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Oversold SOHU up, but CTRP plunges

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rotation April 15, 2014 (Chinavestor) As the earnings season comes to a full swing, investors tend to act randomly. Volatility is certainly up and this is good news for large cap, boring stocks like IBM. But volatile Chinese stocks suffer as investors rotate out of risky assets.

This is the reason why volatile, good trading stocks like Ctrip.com Intl. (NASDAQ:CTRP) plunged today. China's number one online travel agent fell as much as $3.30 or 6.03%, the most among major Chinese listings on the NASDAQ. Unfortunately for CTRP longs, trading volume is two times over average, a bad omen going forward. Also, investors have to realize that CTRP is the only NASDAQ listed China play among the ten worst Chinese ADRs of the day. All other significant decliners are NYSE listed.

Besides Ctrip.com International (NASDAQ:CTRP), Chinese oil stocks suffered the most. CNOOC Ltd. (NYSE:CEO), Petrochina Co. Ltd. (NYSE:PTR), Sinopec (NYSE:SNP) and Sinopec Shanghai Petrochemical (NYSE:SHI) all fell more than any other China play.

Safer Chinese telecommunication stocks, China Mobile (NYSE:CHL) and China Telecom (NYSE:CHA), suffered on Tuesday.

China Life Insurance (NYSE:LFC), the largest life insurer in China, slipped $1.43 today. The stock fell for the fourth day in a row, giving back 6.7% since April 10. LFC was as high as $44 intra day and is trading at $40.68 today...

Surprisingly, Sohu.com Inc. (NASDAQ:SOHU) is up today. As a matter of fact, SOHU rose $1.67 or 2.81%, the most among major Chinese ADRs. The oversold monitor picked up SOHU as an extreme case two days ago and has finally caught fire. There is a lot of ground left to make up for SOHU though. Sohu.com Inc. (NASDAQ:SOHU) has lost 16.5% of its market cap since March 17.

Selected oversold Chinese solar stocks found some support lately. Trina Solar (NYSE:TSL) bounced back up today but the sector is under weather after LDK's meltdown.

See best and worst Chinese stocks today, April 15 @ 3:00 P.M. Size of bubble indicates market capitalization.

 

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