Wednesday, February 19, 2014

BIDU Core/Trend Short Update

I like to see what some of the popular stocks are doing, BIDU seems to be seeing rapid deterioration, not a good sign for the market.

 I have a BIDU core short position, it's down -2.9% which isn't bad, I'm going to fill this out although I don't think I have much room left for it, whatever there is, it's going to full size.


 The 15 min chart is where the divergences were for BIDU's move, they are turning here as you can see. Longer term charts are already in trouble so this swing type move seems to be wrapping up which means I want to enter my short in the area or fill it out.

The 30 min chart is a good example of the damage in BIDU, the divergences and confirmation on the 15 min chart are different than a 30 min chart, for a positive divegrence to show up on a 30 min chart it has to be significantly bigger than what is on a 15 min chart, they were not that big and I expect it is because this was always intended to be a move just like this, a strong swing trade, but it's like a wave rolling up the beach and getting ready to roll back down while the longer term charts are akin to the tide going out.

 Intraday we've seen a lot of damage, especially since the minutes- 2 min

And that is migrating, that means the divegrence is strengthening since the minutes were released, you can see that in 3C at the far right.

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