Written by Aris David. Follow me on Twitter and StockTwits.
This post was inspired by Michael Bigger’s post: Taking Advantage of an Analyst’s Changed Recommendation.
The biggest mistake I made here was not that I closed half my position @ 76.20 for $1 gain, but that I didn’t stick to plan of letting the other half go to $77 (as I said in the tweet). The reason I closed at 75.20 flat was I thought the market was selling off violently. I didn’t take notice on the fact that there were some good economic data from China and US Jobless claims that could reverse the sell-off in the last few hours of trading. As I write this blog SOHU is trading at $78.