YOKU and DANG Chinese ipo’s Chart Patterns Today

Two Chinese IPO’sToday: Youku.com (YOKU) & E-Commerce Dang Dang Inc.(DANG)

I didn’t play the $YOKU and $DANG ipo’s today but wanted to share with you some interesting intraday patterns

They really were a daytrader’s dream trade – Will look into next ipo’s to see if can use the same pattern

As you can see in the 5 minute charts below you can see an initial pop on both followed by a pull back to or just below the 50% fibonnaci retrace points

Then followed again by another push higher.  Look below the chart for further info on how I’ve played IPO’s in 2009

Click on the chart below (twice) to see it much bigger & you can read my notes

YOKU DANG 50% fibonnaci retrace levels

If you are interested to play IPO’s I found a strategy that worked well for me last year . Read my previous blog on $GM & other IPO’s to see the charts of  $GM $CCM $OPEN $MJN $DGI $TSLA   – Its best to wait 1 week or 2 weeks after the ipo for a selloff , when volume drys up and when the stock settles in a range , then buy it and play it as a swing ( was a pretty consistant strategy with exception of $AONE which sold off further) I’ll be watching these two ipo’s to see if that pattern works again or if we set up a new pattern then can look to apply it to future Chinese IPO’s

Here’s the link : Look to the bottom of the blog

http://stockguy22.com/2010/11/17/gm-general-motors-largest-ipo-in-history-playing-f-ford-stock-into-thursday/

Hope you find this info helpful

Stockguy22

Posted in General Trading