CMCM could chasing a Chinese internet stock be profitable? LONG
CMCM is on fire with a 90% gain since the earnings report which was not verified by any
outside forensic accounting auditors. The Ciniese economy may be recovering with it
Cheetah.
The price-volume trend is impressive in the past month as a combination of the price moving
up responding to spikes of buying volume and positive volatility. I will enter this as a small
position chasing the momentum using a trailing ATR stop loss currently $.25 per share.
Since I will risk $25 in the trade for this small position I can take 100 shares as a long position.
I will continue to watch for selected Chinese stocks responding to the economic recovery to
exploit for gain.
outside forensic accounting auditors. The Ciniese economy may be recovering with it
Cheetah.
The price-volume trend is impressive in the past month as a combination of the price moving
up responding to spikes of buying volume and positive volatility. I will enter this as a small
position chasing the momentum using a trailing ATR stop loss currently $.25 per share.
Since I will risk $25 in the trade for this small position I can take 100 shares as a long position.
I will continue to watch for selected Chinese stocks responding to the economic recovery to
exploit for gain.
Trade active:
Price moved higher by more than 8%. Stop loss raised to a trailing 7.5% stop loss. Trade is now risk-free and on auto-pilot.
Comment:
Re-entering CMCM from the swing low
Trade active:
Big move up today. Trade is now risk free with a 5% trialing stop loss. Holding
and watching for more.
and watching for more.