Baidu Likes to Follow Either Google or the Chinese Market, Stock Traders Blog

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Baidu Likes to Follow Either Google or the Chinese Market

Posted on 14 July 2009 by BloggingTrader Tags: Stock Trading Diary

I covered my short position on Bank of America and brought some Baidu Jul 290 puts. I felt I took the wrong side. I felt the market turn bullish after Intel report better than expected earning. Technology stocks may go up tomorrow and so will Baidu. Baidu likes to follow Google or the Chinese stock market as far as my observation goes. Looks like it is not going to go down either way. Google will report earning on 16th. My put option will expire on 17th. Looks like the chance I make profit on this put is low.