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So BIDU has put up 7 or 8 bases without undercutting the previous bases. Seems worth a try here.
Just bought the "how to make money shorting stocks" book. In it they mention the best time is the 4th time a stock recovers and tries to stay above the 50 day line. Looks like BIDU is at that point with the 4th time now failing with a high vol break to boot.
I think it could be a bad time. I don't know the first thing about shorting let alone the market but it looks like this 125 level is to obvious and I would think the shorts would get run In. On another note, this could blow up like NFLX.
I am so tickled with the 14% break lower - a rally must be coming soon.
Abe, Good for you. Congrats. Follow the book and watch the emotions. Also, much is gained from the ChartArcade in understanding the move's behavior.
There are a net 90 funds that initiated their position in BIDU in the June quarter. They are almost all underwater here. The funds that entered in March quarter of 2010 are all set up to nail down their 100% gain.
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