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Update: Chinese Internet Trade
By: Emerging Money
Chinese Internet names pause today on poor (disappointing) growth at Sina ( SINA , quote ) and broader China fears.
These pullbacks have been to buy in the last 2 months and this is far from a big pullback (-1.3%).
Baidu ( BIDU , quote ) is resting today on the 20mda at $169.50 and this has been a key level to hold historically.
BIDU reports after the bell tomorrow.
Be forewarned that this is a company that trades on the news.
The average % price change on the release over the last 10qtrs has been arount 6%+/-.