` Gary Investing Blog: 05/03: APP, SINA, YOKU, DDD, SNE, RENN


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Friday, May 3, 2013


 3D System Corp (NYSE: DDD) has been showing signs of recovery since last week. The stock found support from 200SMA and crossed above 50SMA. Last post, I suggest my followers to buy DDD when it crosses above $36.50 speculating that I will reach $40.00 in two weeks. The buying power in the market indeed is much stronger than I thought. DDD is already trading at $39.50 right now, approaching overbought level. Consider selling some proportion of your positions because DDD is rising with decreasing volume. There might be a pullback around the corner.

Renren, Inc. (NYSE: RENN), so called China-Facebook, is having a hard time crossing above 50SMA 3 times this year. Avoid this stock and if you are really bearish on Chinese telecom for any reasons, such as accounting tricks and scandals, by all means, RENN is also a good candidate for shorts.

Sina.com (NASDAQ: SINA) has jumped more than 20% this Monday and steadily going up after pulling back to $55.00 level. I think SINA crossing above 200SMA with a gap and huge volume signals a very strong buy signal. I think the possibility that SINA crossing below 200SMA in the coming quarter is very small. In fact, I think SINA could reach $62 by the end of this month.

Sony Corp. (NYSE: SNE) When SNE reaching $16.09 this April, I wrote a blog entry that I would rebounce and uptrend would continue in no time. However, rebounce never shows up. We have, now, a bearish MACD crossover on chart with RSI oscillate around 50 level for month. I think SNE might cross below 50SMA. I have already sold my shares in SNE.

YOKU has pulled back from $20.64 high for two days, closing at $19.74. Note that YOKU is falling in a decreasing volume and MACD is still very strong. If YOKU pulled back to 200SMA level, $18.63, it would be a very sweet level for entry. I suggest a stop just below 50SMA, just to prevent we are experiencing a Elliot Wave B instead of a trend reversal. 

American Apparel, Inc. (AMEX: APP) Possible MACD crossover of APP is around the corner. 50SMA has been a very strong support since 2013. I have no reason to believe it would be different this time. Therefore, I think once APP closes above $2.00 again, it will head to $2.40 level again. At least for now, APP will steadily rises along with 50SMA before a breakout.

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