-Put in a buy-stop at 100.52 and it was quickly triggered at 9:31 for a loss.
-Thoughts: Will wait to see if it fails test of the 20 SMA and recent highs at 102.00. Also, this 50 billion facebook valuation might be helping all things internet.
Tuesday, January 4, 2011
$BIDU Stopped Out $study
- Entered the day short $BIDU as per yesterday´s blog entry: http://jpotrading.blogspot.com/2011/01/bidu-not-good-tradefor-now-study.html
-Put in a buy-stop at 100.52 and it was quickly triggered at 9:31 for a loss.
-Thoughts: Will wait to see if it fails test of the 20 SMA and recent highs at 102.00. Also, this 50 billion facebook valuation might be helping all things internet.
-Put in a buy-stop at 100.52 and it was quickly triggered at 9:31 for a loss.
-Thoughts: Will wait to see if it fails test of the 20 SMA and recent highs at 102.00. Also, this 50 billion facebook valuation might be helping all things internet.
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I agree--- but BIDU by itself is a money machine. When you think of all the people in China and BIDU is the 600 lb gorilla of search. The potential is beyond anything we can even imagine. All these "chart/short "people are playing with fire. This stock can turn on a dime with the Big Boys behind it. If you are short, it would be good advice to keep your finger on the trigger 24/7 in case you need to run for the door.
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