BIDU Follow Up

 This is the BIDU head fake move out of what is almost certainly a large triangle top. I've been using leveraged positions to play the volatility and chop nimbly in the model portfolios, but as I made clear the last 2 weeks, I want to move away from those type of positions and more in to pure equity shorts. I had already established a short position in BIDU stock (not options) and will loo to add to that position now that this head fake area is breaking down, as usual though, a mortally wounded animal is at is most dangerous and being it is a May put (the expiration is not long enough for a longer term position that I'm looking for in BIDU) and with that profit and the charts below, it was time to take it.

Look at the leading positive 1 min chart in BIDU, even if this is just a gap fill attempt, there's no reason to let that profit slide as time decay starts to become an issue.

The 1 min chart strength is bleeding over to the 2 min chart.

I'll be looking to add to the established BIDU short position in the model equities portfolio.