The SINA (Sina Corp) short trade hit the final target, T3 at 65.05, back on Jan 31st for a gain of roughly 16.5%. SINA is one of several trade ideas that has already hit a final target or stopped out. For all intents & purposes, I consider this a failed trade as the trendline backtest on SINA following the breakdown likely exceeded the majority of traders' stops (including mine) although some traders may have held, added or initiated a short position on the backtest. Previous & updated daily charts on the SINA trade are below. I'm working on updating the [...]
SINA daily Jan 27th The SINA (Sina Corp) Active Short Trade has now hit & exceeded the first profit target & with the stock currently trading about 11% below the original entry price. Although the profit target levels remain the same, the suggested buy-to-cover levels have been added to this updated chart (profit targets on shorts are typically placed slightly above the actual support level where a reaction is likely). T3 at 65.05 remains my final & preferred target at this time.
As discussed in the Nov 19th Social Media stocks video, SINA could be shorted on a break below the orange uptrend line (which occurred today) or on a break below the broadening top pattern, of which prices currently sit just above the bottom of the pattern. A break below the pattern will trigger the next add-on or objective entry. Price targets have been added to this updated daily chart with the exact suggested profit taking levels to follow. Regarding the trade ideas, I have been on the lookout for long trade ideas offering objective risk/return ratios but don't see many candidates [...]
This video discussed the charts of various social media related stocks (and ETF) discussed in the following order: SOCL, LNKD, SINA, FB, P, ZNGA, YELP, GRPN, YNDX, GOOG, & TWTR.