Baidu Gaps Above The Channel

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If you recall my post from last week on the Baidu (BIDU) bear flag, I was against picking up BIDU unless the downward channel was broken. Well, today the stock gapped above our $115 resistance, and traded as low as $115 exactly before taking off. The stock is now trading above $120 and is up […]

Market Runs to Start 2007

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Let's take a look at the NASDAQ and S&P500, thus far today they have had a very nice run, with the NASDAQ up some 1.4% and the S&P up just over .7%. You can see by the chart that the 50 DMA ended up acting as good support for the NASDAQ. Now, I was pretty […]

Daily market commentary for Wednesday, January 3, 2007

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Written By: Teresa Appleton Stock Forum ID: Teresa Friday closed the year with a sell off across the broader markets. Closing on the lows and red for the day, but still managed to close the week green. NYSE had a higher volume day on Friday while the Nasdaq was lower. However, the year had a […]

Daily Commentary for Friday, December 29th, 2006

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Written By: Teresa Appleton Stock Forum ID: Teresa Thursday mixed market on volume, but across the broaders markets we closed red. The Nasdaq put in higher volume today to leave a distribution day. The NYSE lighter volume to leave a light volume drop. Was a very narrow range across the board to keep the market […]

Baidu Bear Flag

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Take a look at this chart of Baidu.com (BIDU) and you can see what I am speaking of. Now, please note straight off that this is not a triangular pattern as for instance shares of Intercontinentalexchange (ICE) have setup. The reason it isn't is because BIDU is trading under its support line, not above it. […]