Today is 2006/11/02 12:20 at noon time, take a look at 3 recent Chinese ERs. Sohu, bad ER, but only down slightly BIDU, big move before ER, holding strong, and looking to go up slightly. If SINA get so so numbers, the worst case will be like SOHU's move which is not too bad. In today's trading, it is very much like BIDU's pre earning movement, however, if you take a look at last 10Q, there was no movement until after market is closed. SINA was up 15%. I would say, 75% change SINA will have a super earnings with 20% stock price up movement. 15% change SINA got a soso earning, and move 5% higher. 10% odd SINA will be as bad as SOHU and stock price only down 2%. So I think it is a great bet to long SINA before market close! Good luck guys.
According to my chart SINA has a couple of double tops in the past 10 mos, I think this one might be down.
my bet is ok now. i bought at open, now i got 6% overnight. i will see how strong the open is after the earning. could be $30, could be $27. i got $1 profit to pretect this trade now.
Sina upgraded by Citigroup and Piper Jaffray Briefing.com (Fri 6:50am) Price target is increased from $24 to $34. Looks like this one could reach $30 next week. Today is mainly profit taking from tomorrow.