3SOF

Nothing new on BIDU, I'll continue holding it short for as long as it is set to close below trendline 2, which for today is standing at $103.28.

BIDU broke down to a new short term low and everything looks set for the continuation of the bear trend. Actually I'm not all that bearish on the Chinese economy (because Consumption is still just 35% of GDP), so the plan is to buy to cover BIDU at the 200 days moving average support, today standing at $96.08.

Specifically, BIDU's trading plan is:

1) Buy to cover with a nice profit at $96.08;
2) Buy to cover with a small profit if the stock is set to close above TL2 on the chart below, today standing at $102.43.

I covered per plan but wow, BIDU is in free fall below the 200sma!

BIDU is up over 20% in AH after reporting EPS $0.32... I cant believe it... PE over 100.. David, would you still recommend shorting it or do you have any idea why market seems to love BIDU so much?

Baidu.com quarterly profit, revenue more than double
SAN FRANCISCO (MarketWatch) -- Baidu.com Inc. (BIDU :
BIDU109.37, +4.69, +4.5% ) late Thursday reported first-quarter net earnings of 85.5 million yuan ($11.1 million), or 2.47 yuan per share (32 cents), up from 35.2 million yuan, or 1.02 yuan a share, in the year-ago period. Excluding share-based compensation expenses, earnings for the 2007 first quarter came in at 2.82 yuan per share (37 cents). Revenue rose to 275.6 million yuan ($35.7 million) from 135.6 million yuan last year. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 33 cents on revenue of $34.4 million. The Beijing-based Internet search provider forecast second-quarter revenue of 378 million yuan to 388 million yuan ($48.9 million to $50.2 million).