Zacks' Voice of the People highlights opportunities with Sina, Baidu, and - Press Releases

By Zacks Equity Research,

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For Immediate Release

Chicago, IL - 03/13/2012 - Zacks highlights commentary from People and Picks Trader " inthemoneystocks " .

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Chinese Internet Stocks Signal Trouble

As of Monday afternoon, many of the leading Chinese internet stocks are coming under some distribution. Last night, China reported some economic data that was below analysts' expectations. This tells us that the world's hottest economy could be cooling off. Any slowdown in China could be problematic for the global economy.

Sina Corp ( SINA ) is a leading Chinese internet stock that started the session very strong. The stock traded as high as $80.80 a share at the open. This afternoon, SINA is trading lower by $2.51 to $74.89 a share. This is a reversal of nearly $6.00 a share from the intra-day high. If the stock closes at this level it will have formed a bearish outside reversal day on the charts.

The volume is also slightly higher than most of the past trading days and this tells us that the sell-off has institutional conviction. The stock will have very good daily chart support around the $61.00 level. Short term traders can watch for intra-day support around the $73.00, and $70.66 levels.

Other leading Chinese internet stocks that are coming under intra-day selling pressure include Baidu Inc ( BIDU ), Inc ( NTES ) and Inc ( SOHU ). These leading Chinese internet stocks should be followed very closely over the next week or so. Further reversal days in the Chinese ADR's could be signal future problems ahead for the Chinese economy.

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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact: Brent Billock
People & Picks Manager

Phone: 312-265-9307

BAIDU INC ( BIDU ): Free Stock Analysis Report
NETEASE.COM-ADR ( NTES ): Free Stock Analysis Report
SINA CORP ( SINA ): Free Stock Analysis Report
SOHU.COM INC ( SOHU ): Free Stock Analysis Report
To read this article on click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Stocks
Referenced Stocks: BIDU , NTES , SINA , SOHU

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