Chinese Internet Stocks Under Pressure: SOHU, SINA

This morning before the opening bell at the New York Stock Exchange the leading Chinese internet stocks seem to be under some pressure. Sina Corp. (NASDAQ:SINA) is trading lower this morning by $3.43 to $89.91 a share. Yesterday Sina Corp. stock made a new high for the year trading as high as $94.98 a share. Inc. (NASDAQ:SOHU) is also trading lower this morning by $1.33 to $86.21 a share. This leading Chinese internet stock made a new 52 week just three trading days ago at $90.47 a share.

At this time it appears that these stocks are experiencing some profit taking after such a sharp rise. Traders and investors should also take note that this coming Friday is options expiration. Often the institutional money will shake out the short term retail options traders that may have calls on the popular strike price.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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