Last week I listed Rediff.com India Limited (REDF) as a potential buy around $9.50-9.90 for a breakout to all-time highs.
Don’t Forget About India – April 19, 2011
I took most profits that day on the initial pop, then listed it again this morning in the Morning Call (below):
Rediff.com India Limited (REDF) is the hot Indian internet stock we highlighted for a breakout last week. The stock has consolidated in its upper range and once again looks poised for another breakout above $11.90-12.
After listing it last week the stock is now 50% higher! These emerging market internet stocks are heating up, and while I have taken most profits today again on this move after sizing back in, I expect to be trading REDF in and out for the forseeable future. The Chinese Internets have been hot, and now investors are looking at other emerging market internet plays, too.
Here is the chart from April 19.
*DISCLOSURE: Long REDF
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