Today the price was quite close to the $170 level I mentioned yesterday (Yellow PivotBreak line). We can see thatthe buying energy is accumulating quite fast. I'm afraid from one thing though - that tomorrow the stock will already open on a gap up...That's why I considered loading up a little at the session end, bu being a day trader, I could not violate the...
The 30 min chart is almost as good as a butterfly roll. Needs to hold $169.50 for 30 to confirm
Don't take your eyes off BIDU, as it looks very Bullish, especially if it trades above 170. Notice the nice PivotBreak line that extends its effect one month back. Also, the price "sits" well above the middle SmartPoint band, I know I will watch it close...
Will add to L posn > $169.75 for IHS continuation pattern. MM = $195. Support $165.50
Long today at 157, stop w/ close under 156.11. Looking for bounce at cluster of support.
Watch for move out of falling wedge and double bottom support. Nice setup next week
What's bouncing around in my mind is Staged Shorting and I'll use BIDU as an example: Normally I'd short the entire amount of my contracts the moment I think it's going against me. If it doesn't I have 100% of my short going against me and it can quickly lose me more than I've been protecting. I think on Saturday morning it was about $160 when I sold 10 x $150...
Bearish Harmonic Pattern Nice MACD divergence Stoch is showing overbought status RSI is a downtrend We are reaching major resistance zone. The R:R here is 3:1.
Baidu Inc (NASDAQ:BIDU) continues to surge higher today. The stock is trading at $157.56, +2.38 (1.53%). Baidu Inc is up from the $88.00 level since July 2013. This is a massive gain of 80% in just three months. While the bulls are cheering, smart investors may have an amazing opportunity to short it. The 2011 high on Baidu is $165-$166. This is also a max move...