Here is a weekly chart of Baidu.com. I last commented on this chart here.As you can see BIDU has finally reached my long term target near 270, a target that was ridiculed by many back in 2005 when I first posted it.
As yet there is no sign that the bull market in Baidu is over but the 270 level is very strong resistance. So I think BIDU is going to take a breather here. Support beneath the market is now at 210.
7 comments:
You must admit though that Stalwart was right about it trading under $60. He just didn't see the long term potential of the company.
Great call on BIDU! It looks like your box theory was right on the money on this one. The one mystery about the theory (at least to me), is how did you know the stock would go UP into the next box and to the resistance line of that box as opposed to going DOWN thru support of the current box to the support lines of the box below the current one? (In other words, why did it go up instead of breaking support at 45?)
Greg Kesselring
absolutely correct, as usual Carl forgets that he his first wrong 30%. Why is that that so many blog authors are so hung up on their ego. I hope he bought BIDU at 70 and was not bothered by a drawdown to 44.00 just as I was not bothered and I still own the stock
today.
Ego is good; it's what allows bloggers to get out there everyday. Congrats Carl.
sorry I have to disagree , Ego is is not necessary because you are in this game to make money and not to be right. Mr. Market is right and BTW Carls overall performance in general is unfortunately not that great. We all have our winners where we like to bragg but there are also a bunch of not so great calls.
And yet you keep coming back to my blog.
that's so funny.. the call on BIDU was way ON. keep it up Carl. the guy above is a short term trader and doesn't realize that everyone has their own style of trading.
some here welcome lower prices of a stock they think is going UP longer term. I buy in increments, not wholes. -Nick
ps- if you ever get an urge to take a look at ADBE, I'd appreciate it, but I'm not expecting it. I see this heading much higher and would buy more if it hit 38.
Post a Comment