CTRP

I am glad I made the right call yesterday. VIX indeed is a very valuable indicator.

Bought several May SPY 140 put this morning at 0.85, sold them at 1.9 this afternoon. And then bought some May SPY 138 puts with half of the profit! Nice day.

Out the KLAC short postion. 43.5 seems a local support in hourly chart.




Something about CTRP from IBD today!

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Ctrip.com (CTRP) gapped down and lost 2.70 to 64.12 in nearly double its typical turnover. Piper Jaffray cut the Chinese provider of online travel services to neutral from buy, citing valuation concerns.

Valuation downgrades are a staple of any market rally. When stocks rack up big gains, eventually analysts will put out cautionary notes, warning investors that these stocks can't keep up their hot pace.

Those downgrades often prove wrong. Stocks with the best fundamental growth and technical action tend to rack up the biggest gains. Many of the biggest winners in market history shrugged off numerous downgrades on their way to massive returns.

With that said, you should keep a close eye on your own stocks to see how they're faring, and be ready to react if selling persists.