Tuesday, July 24, 2012

BIDU-Tempted to take profits

This is what we've been expecting and waiting for in BIDU...
 A counter trend move and a bear trap to get it started.

This is why we expected it...

Positive 3C divergences from 15 min to 4 hour charts.

Some members have already emailed me this morning that they've doubled their money in calls bought just yesterday, my own call position in the options model portfolio is up about 55% in $110 August calls, I probably should take some off the table here, but I'm expecting more of a counter trend move so I think I may just hold a bit longer and see how the position fares.

On the overnight doubles, I would have taken the profit too, congratulations.

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