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Time to Sell the9 Limited

Back on December 6th, I recommended The9 Limited (NCTY), a chinese online gaming company. My basis for the recommendation was the strength of Chinese stocks and the hunger that I feel still exists among growth investors. Yesterday, the stock moved up over 7.5% on higher than average volume, but not high enough for me to keep holding the stock. If you bought it at my recommendation under $30, you are up over 28% in a month and a half. I recommend taking profits on this stock. I believe the stock will pull back from these levels and present another opportunity to buy another time. 
 
-- Faisal Laljee
Full Disclosure: I don't own NCTY but my position might change at any time without notice.
Published Thursday, January 25, 2007 6:30 AM by Faisal Laljee
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The above content is provided for educational and informational purposes only, does not constitute a recommendation to enter in any securities transactions or to engage in any of the investment strategies presented in such content, and does not represent the opinions of Zecco or its employees.


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StocksandBlogs.com provides stock tips, equity research and markets commentary. This site will give you investment ideas that you can apply to your financial portfolio. By sharing my money making stock tips and research, I hope I can help you manage your wealth better - whether you are a long-term investor or looking for a quick trade, a bull or a bear. From Wall Street to Walmart, Commodities to Foreign Exchange, you will find it all here. My name is Faisal Laljee and you can email me anytime at flaljee@mail.stocksandblogs.com

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