BIDU Update

This week I closed 2 PUTs in BIDU, 1 for 1 102% gain and the second for a nearly 90% gain, the first one made that in 3 days, some members made 250%, but it's because we were patient, we waited for the trade to come to us, we/I added when the signals were there.

There's a bus every 30 minutes, so what if you miss a trade, there's another one coming. I'd much rather miss a trade than be greedy of fearful and enter a trade that I don't feel has strong probabilities. The market is weak, yes it could break at any moment on a comment out of Germany, this is why I have been spending the last several weeks realigning positions, now I'm just looking for the cherry trades and BIDU will be one once again, but I don't think it's there yet.

 Remember what I say about head fake moves? They tend to be fast and deep moves. This head fake in BIDU lost over 14% in 4 days on a closing basis, on an intraday basis it lost over 18%. Also note the note quite bullish candle yesterday, but it did reject lower prices combined with high volume, this is the VERY typical reversal candle we see on tops and bottoms and in every timeframe. There's no time/length for the reversal, it could be a day, it could be a month, it just tells us we hit a brick wall for the moment.

 BIDU 2 min looks like it ha more to go, that's great because I want to enter another put position at much better prices.

 3 min agrees

 5 min agrees

 even the 15 min agrees, that's an important timeframe, but don't get nervous that BIDU is suddenly turning in to a bullish stock.

 The 30 min divergence is really nasty here and right at the head fake area.

 This 60 min chart should convince you that BIDU is a lost cause, it's in big trouble, but if that doesn't do it...

How about a daily chart that is leading negative below the 2009 lows?

Just be patient, we'll get a chance.