Strategic Deal Sends Ctrip.com Into Orbit

'' Ctrip.com Intl. Ltd.

shares are trading higher by $12.90 at $84.89 in Friday's session. The catalyst for the rally to new all time highs is the announcement that the company has formed a "strategic" investment in eLong

. The 37.6 percent equity stake will be acquired from current shareholders, one of them being Expedia

. The news instigated a sharply higher opening of $77.95 versus Thursday's close of $71.99 and after only a dime retreat to resmed its stellar rally. The issue has followed through all the way $86.18 before falling back under $85. The former all time high in the issue stood at $76 and the all time closing high was at Tuesday's close of $72.49. Today's trading action is taking place on much higher than average volume. So far, it has traded 12M shares compared with its 20 day average of 3.45M shares with two hours to go in the session.