Shorting BIDU ?

Quote from spreadem:

BIDU drops from 645 to 605 in two trading days.

Where is support?
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On the daily chart, looks like pretty decent long term support around $400.
 
Stopped out @ 624 for a small quick gain of 20 points ... will look for another opportunity to short.

New support appeared at 603 level ... will watch carefully.
 
Quote from matgallis:

Even with the massive backward looking p/e of 100x, still hard to short the best opportunistic market @ 22b market cap...
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Looking for p/e to come in to less than 100x after report ...

BEIJING, April 20 /PRNewswire-Asia/ -- Baidu, Inc. (Nasdaq:BIDU - News), the leading Chinese language Internet search provider, today announced that it will report its financial results for the first quarter ended March 31, 2010, after the U.S. market closes on April 28, 2010. Baidu's management will hold an earnings conference call at 8:00 PM on April 28, 2010 U.S. Eastern Time (8:00 AM on April 29, 2010 Beijing/Hong Kong time).
 
HONG KONG (MarketWatch) -- Google Inc. (NASDAQ:GOOG) lost ground in its share of the Chinese search market to domestic giant Baidu Inc. (NASDAQ:BIDU) in the first quarter, according to the first set of figures to be released since the U.S. Internet firm's fight with Beijing, reports said Tuesday. Google's share of Chinese Internet search revenue fell to 30.9% in the quarter from 35.6% in the October-December quarter, while Baidu's share rose to 64% from 58.4%, according to a Wall Street Journal report, citing data from Analysys International.
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Bidu shares selling off even on great news ... time to short.

I'm short at 636.
 
Quote from jalee25:

BIDU is extremely overbought... I think... with its indicators... I was trying to get bearish a couple days ago but never got my entry signal as BIDU kept rising...
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too funny
 
Quote from spreadem:


Bidu shares selling off even on great news ... time to short.

I'm short at 636. [/B]
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Now THAT'S a short signal. None of this "too high" crap. :D
 
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