Noting the big selloffs in SINA, SOHU, YOKU, TWTR and others, I took a look at the weekly chart of $SOCL - the ETF for social stocks. Based on volume, it could be forming a right shoulder. I am short YHOO (a component of the ETF) but I invite you to look at this ETF's internal components. Was the TWTR IPO the top? Maybe the rush into social media (and out of) will take them back down to more affordable levels. Since this is a weekly chart, it could take weeks and some back testing for this to occur.......
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