BIDU Update

On the 25th I showed you BIDU as a long with a few unique insights,  first:

I mentioned the market seemed very bifurcated, certain stocks bucking the market trend, BIDU is doing that today as it is up over 2%.

I also said that BIDU looked like a long, but also looked like it would pullback a little bit, that's exactly what BIDU did and opened up a nice opportunity as the charts on the post linked above showed a high probability BIDU would move higher.

 BIDU pulling back a little since the time of the update linked above and heading up from there. A phased in entry was mentioned as a possible way to build a position in BIDU.

 The overall base-like feature of BIDU suggests it should be able to move close to the $130 level eventually after a breakout.

This morning's move has pretty good confirmation, although not perfect. If I were trading BIDU on a very short term basis, I might take some profits here as the price action is getting thin, I'd be looking for the next pullback to enter or add to BIDU long.

If you re in the trade or are interested, feel free to email me and I'll keep yo updated.