Tuesday, January 12, 2010


BIDU is up 7% in after hours trading on Google news (possibility of pulling out of China)

The two trendlines and the 50 SMA meet at 418. I might try some Jan puts for a quick scalp.

EDIT (7 AM on Jan 13th): BIDU is trading at 430 in premarket. It could run up to the double top area of 440.

Support: 424-426 and 418

Resistance: 440-442 and NONE above 440-442

A Jan strangle might be a good idea.

blog comments powered by Disqus