It's difficult to imagine sometimes when or where a stock will take you on a journey of possibilities. I found that to be true with BIDU having traded it for a few years, I at times thought it crazy especially in it's IPO days. Ever mistrustful of "wonder" stocks as this was, I mostly stayed away until it was just too difficult to ignore. Then came the downturn and a hard lesson for stops once again burned into my brain.
The drop was severe the shorts made us winners but the calculation of where it would end was the challenge, my last bottom calculation was somewhere around 93 but it finally ceased to drop at 100.50. Since then, BIDU hardly glanced back with a run that is seldom seen, up to current highs. The highs which I have questioned in recent days/weeks but after yesterday's earnings have to recalculate once again.
One thing for certain, you do not bet against a trend and you bail fast if you do. This climber is like an invasive strong vine that clings to house and home walls if need be, and twines around anything in it's way of growth. How high is high? Jack and the Beanstalk comes to mind, but your guess is as good as mine. Watch the video below for earnings trade and future thoughts.
Happy Trading, Living and Dancing
The Daily Pick - BIDU
©DayTrading with Anni 2010 All Rights Reserved
Post a Comment