Another Chinese Internet Day: PWRD, DANG, QIHU, SOHU, CYOU, SINA, YOKU

By Apr 19, 2011, 10:29 AM Author's Blog  

More of the same as the hot money goes into the same group of stocks – this has been the “go to” area the past month.

Perfect World (PWRD) +10%
E-Commerce China Dangdang (DANG) +8%
Qihoo 360 Technology (QIHU) +7% [recent IPO] (SOHU) +6% (CYOU) +5%
Sina (SINA) +4% (YOKU) +4%

The valuation on some of these such as YOKU and QIHU has moved from ridiculous to absurd, but it doesn’t matter in a “momo” world.


As for the greater market we’ve drift back up to the 50 day exponential moving average.   Buy the dip still wins as yesterday’s dip buyers should be congratulated for the Pavlov dog response.  At this time, a break of S&P 1295 is needed for bears to continue their recent winning streak.

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SPY201.42  chart+0.21  chart +0.10%
GOOG642.70  chart+3.54  chart +0.55%
AAPL112.0868  chart+2.5868  chart +2.36%
TSLA221.58  chart-5.14  chart -2.27%
TWTR30.87  chart+0.55  chart +1.81%
BBRY7.42  chart+0.13  chart +1.78%
NFLX113.7999  chart-1.1301  chart -0.98%
FB93.40  chart+0.93  chart +1.01%

Nikkei18438.67  chart+297.50  chart +1.64%
UK6416.16  chart+41.34  chart +0.65%
France4701.39  chart+25.48  chart +0.54%
Germany10096.60  chart+103.53  chart +1.04%

EUR / USD1.1358  chart+0.0079  chart +0.70%
GBP / USD1.5320  chart-0.0031  chart -0.20%
CAD / USD0.7727  chart+0.0042  chart +0.55%
AUD / USD0.7326  chart+0.0073  chart +1.01%

Gold Fut1133.20  chart+1.20  chart +0.11%
Oil Fut40.94  chart-0.20  chart -0.49%