While the markets hover around the flat line, Chinese internet stocks continue their surge. After dropping as much as 75% on worries over a Chinese slow down and accounting issues, stocks like Youku.com Inc (NYSE:YOKU) and Renren Inc (NYSE:RENN) and E Commerce China Dangdang Inc (NYSE:DANG) are all up again. The bounces are a combination of being oversold weeks ago but also a continued short squeeze. The move up for these Chinese plays should be coming to an end soon. They are due for a pause and some consolidation before any future upswings. RENN is up 50% off its lows and YOKU has surged almost 50% as well. Truly amazing moves. Eyes should be now focused on small cap Chinese plays. Some of these plays are still at their 52 week lows and could see significant upside in the coming weeks.
Gareth Soloway
InTheMoneyStocks.com
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