$BIDU not a good trade...for now. $study

-Shorted 50% of position in the pre-market at 98.15. That was up 1.70% from Friday; thesis being it is a wounded stock trading below 20 SMA and it is dying to re-test the 95.00 level; it was up merely due to pre-market strength in the stock futures.


-Shorted some more at 97.88 (9:43); had broken down through 90.00 at a time market was reaching new highs.

-At 13:27 removed the 100.20 stop; felt they were simply going to pop the 100.00 stops.

-At 13.36 shorted some more at 100.19; general market seemed like was going nowhere further and felt this was simply a stop popping exercise above 100.00

-13.57 put in a buy-stop at 100.52; felt if the move above 100.00 was simply stop popping , should go no higher than 100.50.

-14.06 high of the day at 100.46

-End of day held position at average price 98.56

Thoughts: why trade in the pre-market? Should have been more patient. Stock showed relative strength after breaking 98.50 at 10:32. On the other hand original plan was held since original stop when entered the trade was 100.20. Let’s see what tomorrow brings.