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Sina Corp - SINA - close: 28.52 chg: -0.91 stop: 30.51

Company Description:
SINA Corporation is a leading online media company and value-added information service (VAS) provider for China and for global Chinese communities. With a branded network of localized web sites targeting Greater China and overseas Chinese, SINA provides services through five major business lines including SINA.com (online news and content), SINA Mobile (mobile value-added services), SINA Online (community-based services and games), SINA.net (search and enterprise services) and SINA E-Commerce (online shopping and travel). Together these provide an array of services including region-focused online portals, mobile value-added services, search and directory, interest-based and community-building channels, free and premium email, online games, virtual ISP, classified listings, fee-based services, e- commerce and enterprise e-solutions. (source: company press release)

Why We Like It:
Ever since peaking back in January 2004 the trend for SINA, while very volatile, has been one of lower highs. It appears the stock just put in another peak back in early March and now after several weeks of trying to consolidate sideways above the $30.00 level and its simple 200-dma the stock is now breaking down again. The recent drop has also produced another sell signal in an already very bearish P&F chart, which currently points to a $2.00 target. We like today's failed rally at the $30.00 mark (and its 40-dma) combined with the close under the 50-dma and 200-dma. Due to SINA's history of volatility we would classify this as a more aggressive higher-risk play but we're going to try and keep our risk to a minimum with a stop loss at $30.51. Our target is the $25.00 level before SINA's May 5th earnings report.

Picked on April 13 at $28.52
Change since picked: - 0.00
Earnings Date 05/05/05 (confirmed)
Average Daily Volume: 3.5 million

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