BIDU Short
Posted on Thu 29th Nov, 2007 01:04:03 PM
Shorted 4500 shares of BIDU at 380.79. The shares have surged significantly on low volume from 328. Because the market is up nearly 590 points since Monday, a pullback will take BIDU with it. As always, I have a pyramid in mind in case the shares decide to go further north.
Jack can you explain to the readers what a pyramid is and how it works?
A pyramid can really be a multiplicity of things. In sum, it’s a quantitative strategy of a particular stock and/or stock option bought and sold at the proper pivatol points. Pivot points are infliction moments when the change in either direction is about to occur.
In the case of BIDU, my initial stake could be a scalp (intraday trade)or a core holding. If I don’t cover my shares before the close today, then i will establish a position.
Are you still short and if so did you add to your position?
I’m still short and have not added to my position. As always, I will inform of any changes.