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Baidu.com Slips After Yesterday’s Run

Posted by Blain Reinkensmeyer
December 7, 2006 at 3:07 pm

As quickly as Baidu.com (BIDU) jumped above $120 and ran yesterday to a new high close of $126.57, the stock has retreated giving back most of the gains. Today sahres of Baidu.com are nearly 6%, and as of 3:04 PM entering the last hour of trading have hit a new intraday low of $119.40. Volume today has been heavy, with the stock trading over 5 million shares and extending fast. A close under $120 would raise a bear flag for the big runner, so keep a close eye on it.