Obviously the job report is not too bad and things are improving in the job market. The market reacted positively.
Both CHN and LFC went up more than 3%. SOHU closed up at 29.05; Mar 30 C is selling at 2.40 now. ACH went up 9.2% today!
Tag Archives: Sohu
SOHU
Long SOHU Mar 30 C @2.30. This is a play at major support level. If the support around 28 holds up, SOHU will move back into lower 30s.
Tomorrow is the first day BOX opens for trading. I hope the stupid cancellation fees charged by all current option exchanges will be forced to be removed due to increasing competition. There’s another stupid rule in option trading, that is, you can not have 100% electronic transaction. Up to now, all exchanges require at least somewhere during the order entry process, a human involvement must be present.
Waiting to see job reports tomorrow.
China Stocks
The internet stocks SINA, SOHU and NTES are all at or near the major support level. The possible play may be buying slight ITM Jan calls, but they are all richly priced due to their high volatility. Holding SOHU Jan 30 Call. Closed NTES 40 Jan Calls.
Other stocks such as ACH, PTR, SNP and CHA are making big moves at new highs.
SUNW warns …
Sun Microsystems warns on Q1. SUNW dropped 10% in after hour trading. Glad to be stopped out @3.88 last week!
Didn’t get chance to go long on SOHU since it went up 10% today.
Internet Stocks
Here’s the YTD chart for some Internet stocks.