Every time motley fool comes out an pumping article about XIN, XIN will drop significantly from the day the website publishes it. There is something going on with the motley fool. They may have some special relationship with short sellers.
They wait until a stock moves up sharply. Then they pump it. It should come as no surprise that there was profit taking today. Traders should lighten up a little. I will add more if it goes below 2.50. Don't expect it but I'm ready just in case.
Plus the article tried to explain XIN's price movement by saying it was caused by a merger of two chinese video websites? Are you f'ing kidding me? That's the most ridiculous horsesh*t I've ever heard. MAYBE, that would cause a small upward move for chinese stocks across the board, but that's it. Obviously that's the logical reason though as there is "no company-specific news to account for the jump"????? It's not like we're anticipating a quarterly dividend announcement any day now... or that it's looking more and more like XIN is going to have a pretty good quarter. The "fools" writing almost every single one of their articles are the most ignorant fools in the literal sense, who don't do any actual research before publishing.
At least they included wackotrader's comment on XIN, congrats if that's you barnardjohnthird :P
Stan, XIN did not drop significantly today. Vanke dropped 2.7% last night, and it didn't even have a 10% run up the day before. Yuexiu was down over 4%. So XIN's decline was not significant in my book.
You didn't understand my point completely. What I'm saying is XIN normally reversed its uptrend after the fool's pumping. I never say XIN will drop significantly the day they published the article. The correction comes in for days if not months.