Volume Spike Investor

We are seeing a large price gain of over 17% in CTRIP.COM INTERNATIONAL (NASDAQ: CTRP) this morning.  This is after the strong earnings report that showed a 30% revenue rise with a 34% earnings gain.  More importantly, we have seen over 3 million shares trade hands when the average volume on this one is only about 1 million shares per day.

At $51.00 and with a $35.91 to $70.89 range over the last year, volatility is its middle name.  We really want to outline the short interest here.  The short interest grew 38% by Late July from the middle of the month to 5.76 million shares.  That follows a 28% rise in short interest from the end of June.

JON OGG

August 14, 2008