With the Chinese celebrating a new year, and their markets getting ready to reopen, I’m looking for strength out of the usual suspects. A few names look ready to run.
First up is a position I took on Wednesday, $SOHU. I love the spot here as it sits on the 50 day MA, giving you your quick exit should the trade go wrong. The action point is above $46.10, you will want to be in at that point:
$SINA – My stock of the year looks ready to make another move higher here. Watch for a breakout on strength:
$QIHU – We looked at this one last night on the daily timeframe, this morning let’s take a look at the 30 minute chart, which clearly shows the action point:
