Friday, May 2, 2008

Bookkeeping: Cutting Ctrip.com (CTRP) to Almost Nothing

Posted by TraderMark at 10:07 AM TweetThis
Much like Sohu.com (SOHU) [Apr 28: Sohu.com Crushes Estimates - Up 15%] I truly do not have enough Ctrip.com (CTRP) - the Chinese travel giant. What a move. I don't have much, but I am essentially selling almost all I have and just keeping a measly 5 shares. This move has been epic, but the company now trades at well over 60x forward estimates. Too rich for me (that is why I have not had a large position) but it gone from under 50x earnings to well over 60x in a span of 2 weeks.

Long both names mentioned in fund; no personal position

Posted by TraderMark at 10:07 AM

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