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ONeil Trader
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I am looking for investment and trading ideas, mostly growth stocks. Stocks of my interest must show substantial earnings and sales growth. After those fundamental screens, I look for technical patterns to make trades and long term investments. My interest in the stock market started with my... More
  • Internet Stocks Consolidating 0 comments
    Nov 26, 2013 11:15 AM | about stocks: QIHU, YY, FB, SFUN, SINA, BIDU, GOOG, YHOO, BITA, YOKU, FENG, WUBA

    Internet stocks are consolidating after their massive run-ups in recent months. This strikes me as needed and healthy, as they moved up almost without pause. The consolidation will enable the stocks to set new buy points as they try to emerge from a consolidation. There are a few pockets of strength in the group, like Google (NASDAQ:GOOG) and Yahoo! (NASDAQ:YHOO) and Bitauto (NYSE:BITA) (my latest article here) as they made new all-time highs recently. There are some stocks in the group that are delivering strong revenue and earnings growth, and that I believe will outperform once again in the next couple of months, as they finish their consolidation periods.

    Google and Yahoo! have broken out recently, and are not far from their buy points.

    These are the stocks that are basing and that I find the most interesting in the group: Bitauto, YY (NASDAQ:YY), Qihoo 360 (NYSE:QIHU) (my latest article here) Sina (NASDAQ:SINA) (my latest article here), Baidu (NASDAQ:BIDU), Facebook (NASDAQ:FB), Yandex (NASDAQ:YNDX), Phoenix New Media (NYSE:FENG), Soufun (NYSE:SFUN), Youku (NYSE:YOKU) and a recent IPO (NYSE:WUBA).

    You can see my technical view on some of these stocks below.

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    Disclosure: I am long QIHU.

    Additional disclosure: I may go long any of the mentioned stocks at any time.

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