1. As noted in recent live meetings Qihoo has given early indications for an advance from current prices (current price, $60.86) to $73/$74 (or higher) into March 2015 (plus 1 month).
2. Therefore, Qihoo is now in a ‘Buy’ position for higher prices into March 2015.
3. An initial protective stop should be placed at $58.20. The stop will be moved higher as the market continues to confirm. Will update.
Qihoo 360, QIHU:
1. As noted in recent live meetings Qihoo was in a ‘Buy’ position for higher prices into March 2015.
2. However, Qihoo declined today, hitting our protective sell stop at $58.20. This resulted in a loss on the entire position.
3. How Qihoo handles the $56.00 level remains important and may prompt re-entry. Will message any further entry or indication for Qihoo.