BIDU Update

This is one of the shorts we stalked on a head fake move, were patient with and got excellent positioning, very low risk and high probability.

I've been hoping for a move higher in BIDU to short in to so I can add the rest of the intended position, it is performing beautifully today.

 PATIENCE PAYS, AT LEAST WHEN YOU HAVE AN EDGE! BIDU was looking like it was going to make a head fake breakout, the longer term underlying action was very negative so this breakout higher was a golden opportunity to short BIDU in to price strength and the trade has worked exactly as planned. We waited for the breakout which was a head fake move in the orange box and shorted BIDU in that area. Since then it's fallen quite a bit, I'm holding my short there for reasons explained last night, but would love a chance to fill out the short position in to strength. BIDU is up almost 6% today. The two areas I'm looking at to add are in yellow, the higher area is a gap that is unfilled, that would be the ideal spot.

 BIDU 1 min saw some weakness with the rest of the market in 3C as I believe retail has been shorting heavy in to today's move, that will only add more upside momentum in a short squeeze, since like the rest of the market, BIDU has clawed back up in to confirmation.

 The damage from earlier that reached the 5 min chart is starting to be repaired and BIDU looks good for more upside.

 The 15 min chart in BIDU today (reflecting institutional activity (retail action never reaches this far out) is not only in a positive divergence from the lows, but in total confirmation.

Even the 30 min chart has shown the accumulation in BIDU that is in part powering this move today, note the large positive divergence, like I said, it takes time and this divergence is nearly leading in the near term.

Be patient, let this one come to you.