Wow, can you believe that investors are driving the price of $YOKU higher?
It would appear that some people have been living under a rock and have not noticed that lately at least one stock a week has been getting slammed by accounting fraud allegations. This of course makes investors leery of any Chinese Stock with good reason. YOKU has not profits and appears to be about a perfect setup for the next Chinese stock that may be targeted. I will be following up with more but at best it appears that the full valuation is built in and if any negative news comes out next week by any Chinese stock will likely produce more headwind. If someone uncovers anything with this one it is likely to see a very large drop in price. Because of the headline risk I started to fade the move higher and sold call options.
I also sold some $DTG options and stock as it appears ready to retrace its move back from its huge runup in price.
Lastly, I shorted a very small amount of $SIRI so I could put my money were my keyboard is as I am about to release a bearish article on SIRI.
Have a great weekend