Going to show you guys why I bought DANG today and how I knew it was going to work. As we all know, the chinese stocks have been hot this week. We all had them on our radar and played them wednesday for a big move. This morning the chinese stocks opened up weak in the morning and then moved red to green a few hours later. This is exactly what you are looking for in this type of play. YOKU actually had the exact same pattern but it just occured a little bit earlier than DANG. Seeing the YOKU move red to green is what turned my attention to DANG. I noticed that the stock was bottoming around the 5.8 level on the intraday chart. As soon as the stock popped out of this consolidation range and broke the 20dma intraday I bought it at 5.85.. the stock then drifted higher for half an hour right to 6 bucks, which was the red to green spot. As soon as it went green the stock rocketed and never looked back. Pretty easy trade if you study the pattern and learn exactly what is happening.
Here is a look at the DANG and YOKU intraday charts. The red to green spot is market by the arrow. The entry point is circled! Notice the similarity of the charts and moves.. this is why dang and yoku are sympathy plays of each other! aka Chinese ding dongs. RENN actually looks the exact same intraday as well but i dont feel like charting it, you get the point.