Sell into strength and buy into weakness. Never go broke taking a profit. All the best players on Wall STreet employ this strategy..
according to cnzz, qihu's search share started to grow again in Jan, and at the meantime bidu's share started to sink again.
could this be a real breakout this time? I am really confused and afraid to get burnt if I re-enter now.
yes but all this back and forth is a little unsettling. Two rumors were spread on QIHU in less than one month. Sounds like an inside job to me. I hate rumors = spells deperation. I'm still trading the stock with covered and uncovered options for a hedge. I think I will get very long again if she can break the highs of $96 as a momentum trade. You will be much better to wait and lose $3.30 ($92.70 last to $96) then to load here. I would be selling in here and look to buy her cheaper or like I said risk paying $3.30 moore but be more certain that this is a real attempt to break the highs and hold the level. This is how the momentum traders work... Or just buy farther out calls. You can buy the Feb 7 $100's for a little over $1...They will be cheaper when using strike's past its high (less probability) and of course because its farther out..I stil think QIHU can see $125 this year as a low TP...That's $29 of upside if she breaks $96..
If you understand Chinese, you should search the news about Qihu's annual rewards for their employees this year. No other company in China can beat Qihu. I guess Qihu must have a very good year. I think it is safe to hold the stock till ER. MM may sell on the good news come out then.
Sentiment: Strong Buy