Shanda Interactive (SNDA): Weak
I've been trying to short Shanda Interactive (
) for a week now but my limit orders appear to be pathetic. I like this setup as the stock has fallen below both the 50 and 20 day moving averages - in a steroid like strong market mind you - and the 20 day has crossed below the 50 (bearish). Since anyone attempting to short has had their teeth knocked out the past month, I wanted to place the limit order around the 50 day moving average so if I was wrong, my losses would be minute. I started this week with a $54 limit order, than went down to $53 Tuesday, and finally today placed the order just below $52. Why this stock could not spike just one day this week during all the rallies is beyond me. I'd be sitting pretty today. I am just highlighting this as a name of weakness... down 4% in a tape like this? Hmm... and it's not the only Chinese stock acting this way.
Always a bear market somewhere.
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