Baidu (BIDU) – 02-22-2010
Baidu doesn’t need much company info since everyone that follows internet stuff already knows them well. BIDU has too crazy of a chart to try to mark up. The interesting thing is that the stock has exploded since the crash when it was at $100, but the P/E has been keeping pace. #1 on the IBD list now, it will probably become even more volatile in the near future. Good for swing trading or as a long term play at the right entry.
Stock Market Analysis – 02-22-2010
The market had some interesting price action today, but the volume was especially weak. Even though the price trend is up, it still feels like an indecisive period to me. I said $1100 was a good price to watch on a strong breakout, but this weak stumble upwards doesn’t feel right, so I’ll keep waiting for short entries until the market proves otherwise.
Stock Market Analysis – 02-18-2010
The price is saying yes, but the volume is saying no. Sliding volume is typically screaming correction. In this case, that would mean an upward correction in the midst of a downward movement. I’m fully expecting to hit resistance soon, but will keep a close eye on bullish options should the opportunity arise.
Stock Market Analysis – 02-16-2010
The little pop in the return from the holidays was nice, but the weak volume says to be wary. We’re close to the last high, so keep that in mind as a pivot. A strong opening over $1100 could be a good short term bullish trading signal right now, as long as it’s strong, but not overextended.
Stock Market Analysis – 02-11-2010
The week’s not quite over yet, but the pause has been a good break. So far most of the downward action of the year has come on 3 big down days. Until I get some confidence that a fourth and fifth aren’t just over the horizon, I’ll still play it fairly conservatively. It’s always tough watching things on your radar, like HEAT, go up 30% in 5 days, but hopefully you have a lot of other options for when the market agrees it’s time to buy stuff.
Having plenty of opportunities is important in times like this so that you don’t make poor choices due to being desperate. Think about your buddy who married the butt ugly girl behind the front desk at his work because she was the only person that talked to him. You don’t want to end up in the same boat with your stock picks now, do you?
Stock Market Analysis – 02-05-2010
A dragonfly doji is normally a bullish reversal signal, but the action was unconvincing to me. Whenever I get conflicting signals, I usually find it best to play it safe. After the first few hours on Monday we should get a better idea of whether Friday’s late bullish run will last, so I’d be inclined to trade the direction of the market at lunchtime if I was looking for overnight trades.