BIDU Cont.

I still like BIDU for a bear trap, counter trend mov, but I'm still skeptical about this move that is getting pretty parabolic in the very short term. I'd likely use any pullbacks to add to positions or initiate new ones.

 Overall 2 min trend is positive in the areas shown on the last post's charts, including what would be considered a shakeout move.

 However close up on an intraday basis, this move doesn't look that well supported.

 The longer term 3 min chart looks very positive and at the right places.

 Intraday though, it also looks like this move is not well supported.

Overall the 15 min chart takes out the noise and the day to day jitters, it looks very positive for BIDU on a sub-intermediate trend basis. I wouldn't let go of my core BIDU short, but would still play the long side of what looks like a bear trap. Thus any price weakness I want to consider BIDU as a near term long position.