BIDU...due for a downward correction?
- Thread starter blast19
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Yeah I was considering BIDU for a short play. I would do it, but I'm already all-in short on GOOG. If you notice, BIDU is forming a head and shoulders pattern. Actually a lot of stocks in the nasdaq are forming H&S patterns.
Looks like a correction to at least the $100 range in my opinion. Keep that stop loss tight once you get into that range, cause BIDU is long-term bullish and you don't want to be in front of a train when it leaves the station.
I'll probably buy a couple BIDU March 110 puts come Monday, but it might be too late by then
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Looks like a correction to at least the $100 range in my opinion. Keep that stop loss tight once you get into that range, cause BIDU is long-term bullish and you don't want to be in front of a train when it leaves the station.
I'll probably buy a couple BIDU March 110 puts come Monday, but it might be too late by then
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when does goog report earnings--i think their growth slowing could show up this earning`s report from a comparison standpoint---goog/bidu----ran up to 515/128---then sold off---and then a lot of money came in after the new year--thinking they could ride these two high beta stocks back up---but bidu hit 126, faded, will be very interesting week with it being tech week versus earning`s/weather/oil, geo-political/domestic/congress
goog hasn`t faded yet---but i think whatever high it reaches in january will be the high for the year (maybe with the exception of a november/december runnup) of course earnings could send the thing down hard---don`t see it going above 515 though even on good earnings.
Yahoo had tax selling at the end of the year, but it has jumped since the new year, partly undervalued, partly piggy-backing, that company was tied to the economy`s outlook last year (auto/mortgage ad revenue) they sure aren`t a super growth stock anymore under current management---but could benefit from panama in 2nd half of year---but poor economy could cancel these expected monetization gains out---after jan earning`s they could jump up to 30, or back down to 23 a share---they should beat lowered expectations--but they are not going to overwhelm anybody with that management team---look how long it took just to get panama rolled out---they were talking it up last march-may--will probably trade with the (nasdaq) markets from here until earnings.
goog hasn`t faded yet---but i think whatever high it reaches in january will be the high for the year (maybe with the exception of a november/december runnup) of course earnings could send the thing down hard---don`t see it going above 515 though even on good earnings.
Yahoo had tax selling at the end of the year, but it has jumped since the new year, partly undervalued, partly piggy-backing, that company was tied to the economy`s outlook last year (auto/mortgage ad revenue) they sure aren`t a super growth stock anymore under current management---but could benefit from panama in 2nd half of year---but poor economy could cancel these expected monetization gains out---after jan earning`s they could jump up to 30, or back down to 23 a share---they should beat lowered expectations--but they are not going to overwhelm anybody with that management team---look how long it took just to get panama rolled out---they were talking it up last march-may--will probably trade with the (nasdaq) markets from here until earnings.
Anyone else see a downtrend in RSI and volume on a daily chart starting with the November rally to almost $100?
Looks like interest at these prices might be fading. Considering the gap up from the $112 range on the dailies it seems like the stock is potentially finding a top.
No real confirmation yet, but the chart seems very suggestive of a cool down coming its way...volume being my favorite indicator and it's flashing less interest in rallies while RSI is fading could lead to a correction.
The stock is trading at a highly inflated PE, bubble era high at that and is probably due for a correction like the general markets are hinting at.
Looks like interest at these prices might be fading. Considering the gap up from the $112 range on the dailies it seems like the stock is potentially finding a top.
No real confirmation yet, but the chart seems very suggestive of a cool down coming its way...volume being my favorite indicator and it's flashing less interest in rallies while RSI is fading could lead to a correction.
The stock is trading at a highly inflated PE, bubble era high at that and is probably due for a correction like the general markets are hinting at.
Closed @ lows, good job to those who had puts (not me) and who held through today's whipsaw.
It;'s a good old fashioned BIDU rally today