CHINA

[David Randolph]

Again, not so sure today as I was yesterday. General market was pretty weak today, altough it rose a bit. But at least CHINA is not falling, I can't conclude anything from the chart, I need some kind of bearish confirmation to take action and sell. Nothing conclusive on CHINA, yet.

[puerz]

Should we still hold china?

[David Randolph]

Actually I'm going to give CHINA some room to work out. You see, the stock made, without a doubt, a powerful trend reversal, from bearish to bullish. Now the stock is making a normal pullback from such a strong advance. Maybe it will retest the descending trendline which today will be at $3.08 ... but I think the stock will hold at the 50% Fibonacci retracement level which is $3.08/$3.09 (hold on close, I don't rely on intraday moves).

After this correction is made CHINA should advance to new highs above $3.79. But I don't want to see CHINA closing below $3.08 ...

[David Randolph]

I still don't know if CHINA will close above or below $3.08. The situation is too close to call at this time so I'll keep the stock and wait for a more definitive day.

[David Randolph]

I still think CHINA just made a retest to the broken descending trendline. Perhaps yesterday was the last day of a considerable correction. We'll see, but I'm keeping the stock a bit longer.

[David Randolph]

I was right in giving a little more room to CHINA, the stock today had a perfect technical and bullish behavior. Opened lower at support and then rebounded all day to close near the highs. We've had a millimetrical retest to the descending trendline (previous resistance, now support), and now CHINA is ready to resume its uptrend and zoom to new highs.

[David Randolph]

It seems CHINA wasn't ready to bull yet. Give it a little more room to build up pressure for another leg up. I sure wouldn't like to see the stock closing below the 61.8% retracement level.

[David Randolph]

CHINA needs more time for consolidation. I'm going to give it. Keeping the stock.

[David Randolph]

CHINA went up yesterday on higher volume. Nice market action. I don't know if CHINA will suffer from the coming short term sell off in the general market but I guess not.

[David Randolph]

CHINA is still consolidated. We got some minor news after the close: Liverpool Football Club and China.com Inc. Announce Exclusive Partnership

$3.08 is an important level for CHINA, I wouldn't want to see it close below that level again. I'm a bit afraid that CHINA won't be able to held this support and advance as the general market is due for a pullback, I believe.

But there was no new technical information from today's session, I will continue to hold CHINA.

[David Randolph]

It's over for CHINA. The stock closed decisively below the 50% retracement with a red marubozu. Without a doubt the stock is bearish now. Besides, the correction in the general market probably just began, and CHINA was one the weak spots.

I have nothing else to do than to sell this stock at tomorrow's open.

[David Randolph]

CHINA sold @ $2.94

[bob839usa]

David, did you send out email recs today. This is two days now I have not seen any???

[seadog]

I am back into china again

[macaddictsg01]

CHINA tried to push higher on Friday but it seems it wasn't ready yet. Still consolidating the bullish move it had. I have little doubt the next leg for this stock will be up, we have a recent ascending trend confirmed by volume. Anytime a big white candle should develop.

Hi David,

I'm back on the board. Just want to kno wif this is about time to buy again this CHINA.Now it breaks the 3.00 barrier and seems to be ready for fire!

Cheers!

Still in Taipei