Should I Short Baidu at $318
I thought about a few trades yesterday and today but as I said in my previous post I lost confidence about my judgment lately so I didn’t make the moves. It turned out that if I made the move I would make good profit. I thought about shorting 2000 shares of Bank of America yesterday after market close at $13.40 but I didn’t do it. I thought about buying 2000 shares of BAC this morning when it dropped to 13.04 a couple times but I didn’t do it.
Now I am thinking about shorting 100 shares of Baidu at $318. As you see Google dropped $14 dollars after market close. It is like selling on the earning report. Baidu usually follow Google or the Chinese market. So I kind of think Baidu will drop and will drop $10 at some point tomorrow. I am still thinking about the move. I will have the chance to short it till 5:00PM
I post the same question on Baidu board. http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_B/threadview?m=tm&bn=22855&tid=273994&mid=273994&tof=6&frt=2. Seems like no one really have the same feel. I let go that thought again.,
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Ok…A few comments on this. First, I would never trust the opinion of anyone on a message board. They all are just like the talking heads on the TV. They have their own agenda. Second, when you think you should make a move you need to do it. Your first instinct is normally the one that is correct. Third, I don’t really follow BIDU, dont really like to trade stocks like that with the spread being so wide. I am closely following RIG and V right now. Tomorrow is going to be an interesting day with BAC earnings tomorrow. They could help the market trade either way. Like I said earlier I sold my long position because of M. Whitney ruining my Trade. I don’t really like to be in Trades in which the whole world is in, that is when you know you are late to the party. And I have no clue which way BAC will move on the number tomorrow. I only like to be in trades in which I think I have an edge also. BAC, C, and GE report tomorrow. Should be a fun day. Good luck if you will be trading.