Putting it to the X

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Hey Brett–Did u see my comments under V short-blog this morning
Its a bit oversold BUT you gotta hold it–I missed it at 171 area this afternoon
But it will come to me again
If you shorted over 171 area just hold on My target 164

I would be careful shorting this stock with all the problems uncovered recently with steel from china. Shortage is driving price up. It could retrace to 165 in short term but long term will most likely exceed 220 by end of year.

I think it all depends on perception. X will calm down after all those talk shows, analysts, etc have done. Yesterday’s action does look bearish, though.

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Watch for breakout tomorrow above 173. If so may form new support level. If not get ready to short on Monday.

I actually have been buying June puts for X as well as a number of the Chinese internet stocks. Curious if you have an opinion about the likes of CTRP or SINA both going into earnings next week.

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