- Joined
- 18 July 2005
- Messages
- 2,636
I hope it is.
How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
I hope it is.
BIADU.com's Poetic Struggle
Baidu.com (BIDU) is an Internet Information Provider, founded in 2000 and based in Beijing, China. The name ‘Baidu’ was derived from a poem written about 800 years ago during the Song Dynasty. ‘Baidu’ means searching for something over and over and over. In the poem though, the search revolves around a beautiful female who lost or abandoned her love. The poet describes the search for her as frantic, making it the goal of his dreams through life's many difficulties. We sense that Mr. Li, the founder and current President expressed more than what's in an average Corporate name when he chose ‘Baidu’. Mr Li deserves great credit for his guts and genius in staring up and operating his company in China: his conviction and spiritedness is reflected in his voice in the conference calls.
Before the analysis begins, we want to give our respects to BIDU's late CFO Mr. Shawn Wang, who tragically passed away only three months ago.
BIDU provides Chinese language internet search services. BIDU's Initial Public Offering (IPO) debut was on the Nasdaq 8-04-2005. The lead underwriters were Goldman Sachs and Credit Suisse (CS First Boston today) and Piper Jaffray was listed as co-underwriter. The initial price range was $21.00-23.00 with 3.7M shares offered, but the deal was over subscribed, "hot" as they say, and ended up pricing 4.04M shares at $27.00. BIDU closed up 354% at $122.54 in its first day of trading! One of our team members placed over 30 IPO's while at Morgan Stanley from 1997-2001, so we called upon him and his expertise to scrutinize the BIDU IPO and the ramifications going forward. http://www.ipo-fund.com/common/ipoprofile.asp?ticker=BIDU
BIDU's shares have a 52 week range of $92.80-$429.19. As of its March 24TH close at $240.00, BIDU's shares are up 159% from their 52 week low and down 44% from their high of $429.19, on November 6, 2007. We labored through many man hours of IPO data, conference call analysis, accounting metrics, competitive advantages & disadvantages, technical analysis, public articles/stories, as well as geo-political issues, both for and against BIDU. We avoided an exhaustive write up of all of the above data points, but we offer enough information to enable you to trade BIDU with greater conviction. After analyzing the fundamental data using our proprietary trading microscopes, we weighed the many intangible components accountants often miss. Here's our Psychological trading Call on BIDU.
The most common statistic quoted by most of the BIDU bulls relates to demographics: 1.3B Chinese, a market that is only 10% penetrated, and BIDU has a 60% commanding market share over its rivals GOOG, SINA, and SOHU. The number of Chinese internet users is tied with the U.S. at 155M, but the bulls argue that when the rest of the 1.3B consumers come online, Baidu looks like it has the ‘green pasture’ that Wall Street dreams of finding. Are bulls correct in going long because of these demographics?
Thomas Malthus would argue against the bulls. His 1798 "Essay on the Principle of Population" is still studied and cited by economists and sociologists. Malthus argued: "The pressure of large populations tends to depress wage rates to subsistence levels and keeps them there, with the excess population being eliminated by war, pestilence, or starvation". (http://en.wikipedia.org/wiki/Malthusian) Could this 210 year old theory apply to modern day China? We hope not, but our readers should be aware of the inherent problems that very large populations could face.
In a piece written on Monday March 24TH, a Motley Fool contributor stated "I am a believer in Chinese growth stocks" and pointed to today's price of only 37X next year’s earnings. We have to question whether the harsh regulatory environment, mounting inflationary pressures, Shanghai Index down over 40%, and recent geo-political tensions with Tibet warrant a 37X forward P/E. How about 30X P/E, which translates into $195/share, or 25X P/E = $162/share. We also question whether the 2008 Beijing Summer Olympics caused advertising revenues to rise to ‘bubble’ levels, and if that's true, what happens if the growth estimates that bulls are using turn out to be too optimistic for 2009?
Yes. Disaster.
The shares would fall to reflect a completely different denominator/profit; so going long based on a forward P/E in an environment filled with geo-political uncertainty is irresponsible in our opinion. Only rarely should you buy a stock based solely on fundamental analysis. To the credit of the Motley Fool writer, he does point to geo-political tensions in his piece, but his prior write ups missed that component and we’d rather not have to piece together someone's thoughts from several articles to understand how they truly feel.
As always our goal is to give you a look at the entire picture from ‘top down’ to ‘bottom up’. ‘Top down’ analysis refers to researching the macro geo-political and economic environment a corporation finds itself in, and "bottom up" analysis targets specific companies from their core first, not factoring in the macro risks. We strongly believe a ‘top down’ analysis must be understood before committing to buying any Eastern asset, especially in China. Perhaps Jimmy Rogers' argument for the commodities bull market in China makes sense, but every market tops out eventually.
Let's turn to the 46th minute of the Q4 2007 conference call (CC), streamed on February 13th, 2008. (http://ir.baidu.com/phoenix.zhtml?c=188488&p=irol-presentations) Analyst Robert Peck asked what turned out to be the best and hardest question: "What happens if there's a global consumer recession". Mr. Li answered, "I'm not an economist". He later defends BIDU as insulated and with market share leadership. Ironically, Robert Peck was employed at Bear Stearns at the time. We give Robert credit for asking that forward-looking question, and ask our readers to follow Robert's career; we definitely will as forward thinking analysts are rare. Listen to this exchange and you'll detect the relevance of the Psychology of the Call. At the 3 minute 17 second mark Mr. Li attributes BIDU's recent successes to growth in advertising from large "financial services".
The recent 40% pull back in the Shanghai Index cannot help this metric in the current quarter as many large financial Institutions are looking at eroding balance sheets due to stock depreciation, which will likely crimp advertising campaigns. When an Index falls 5% or 10%, or even 15%, that’s considered a "healthy correction." When an Index falls more than 20%, in the Shanghai case 40%, that’s classified as a "bear market."
http://finance.yahoo.com/q/bc?s=000001.SS&t=5y&l=on&z=l&q=c&c=
A bear market ahead of the biggest commercial/advertising event in China's history? Unfortunately that's a fact!
Lastly, at the 15 minute 10 second mark, BIDU guides their revenues down for Q1 2008, citing severe snow storms and the Chinese New Year. Remember the 4th Commandment: never accept excuses from management. What will happen on the next quarterly CC when management must address the bear market as well as recent Tibetan unrest? Will BIDU say the advertisers may tighten their belts because the Chinese government may ban live footage from Tiananmen Square? Have you any idea of the effect this would have on ad revenues? http://www.cbsnews.com/stories/2008/03/22/world/main3959856.shtml So please don't be fooled by Motley's mention of 37X next year’s earnings. In other opinion the Summer Olympic months ahead may well present incredible operating challenges.
Here’s where we see the biggest hurdles for BIDU: 2009 may seem light years away for shareholders if the Chinese government stumbles and falls. Unfortunately, the government still has a lot to say in regard to human rights and freedoms and here's where Mr. Li's genius lies in choosing the name Baidu. "Baidu.com's Poetic Struggle" in China is well documented and cannot be addressed by accounting. Forecasting China is more of an art in our opinion, like a poem perhaps, but definitely not an exact mathematical science like accounting.
In September of 2007, BIDU launched a proprietary online Olympic news site. The shares climbed from $200 to their 52 week high of $429.19 within 2 months. No doubt this was correlated to optimistic anticipation of the Olympics. Most of the Olympic hype and premium has since eroded, but is the erosion complete? Ironically, BIDU's 52 week high of $429.19 was printed the exact month they launched Baidu Finance Online, a site focused on stock prices, market news, and accounting data. But maybe that was just coincidental; maybe our next example is the true reason BIDU has fallen 44%.
Five months ago, the Chinese government was accused of cutting off the ability of U.S. search engines to operate, allegedly redirecting traffic to Baidu. Should any world government be involved the operations of a public corporation? Although this is fundamentally positive for BIDU in the short run, it reveals the lack of freedom in Chinese corporations. Perhaps BIDU's market share would not be at 60% if government allowed true competition. In addition, could the fiery growth rate of BIDU be cooled down in the future by the same government that fans the flames today? That is the type of "top down" analysis we want you to embrace along with the fundamental accounting data. Never trade on growth estimates without weighing the psychology of the geo-political environment. Emerging markets are called "emerging" for good reasons. They differ from ‘developed’ markets in that developed markets exist under more ‘efficient’ democracies, and therefore greater human freedoms and rights.
China was irked by an award that the U.S. bestowed upon the latest Dalai Lama, a Buddhist spiritual leader, in a succession that coincidentally dates back to the 1300's, the same time as the Song Dynasty and the inspiration for the poetic name Baidu. The poetic struggle in finding freedom comes full circle here, and the Baidu name now takes on more meaning than a simple Corporate name. It is a symbolic name. Baidu represents the search for that ‘beautiful’ freedom (over&over&over&over); we sympathize to a great extent with the brave Chinese people and the obstacles they still face. (http://searchengineland.com/071018-071828.php). No democracy should limit 1st Amendment Rights, but many BIDU bulls continue to offer forward estimates in the face of a dangerously controlling government. Politics in money and banking is a pressing issue even in the U.S (please read our prior piece “One Wounded Bear and Two Gov't Officials Wake Up the Bulls"). But the "politics" in China are of a more dangerous and potentially virulent nature. We refuse to take sides to what is an ancient conflict with Tibet, but we sympathize with the Tibetan Buddhists as well.
BIDU is facing a Shanghai bear market, rising inflation, rising interest rates, a government controlled economy, and an Olympic Games in danger of not being televised. The reason many bulls bought BIDU shares over the last two years had to do with their optimistic view of a successful Beijing 2008 Olympic Games; that optimism is eroding fast. On Tuesday France's Nikolas Sarkozy threatened to boycott China's biggest Olympic moment. Only today the European Union urged China to handle the uprising in Tibet with restraint and to avoid volence, while the Belgian government refused to rule out a boycott.
In considering all of the above it's our opinion BIDU shares have a higher likelihood of trading down to the $150.00 level before breaking through $300.00.
http://finance.yahoo.com/q/ta?s=BIDU&t=5y&l=on&z=l&q=c&p=&a=&c=
We urge our readers to avoid BIDU until we get a sense of how bad the current operating environment actually is. That will be addressed on the next CC, which you know we will cover in great detail for you.
Lastly, Mr. Li's struggle is in the perfect poetic tradition. Wikipedia states that "The poetic tradition is a line of descent of poets who have achieved a sublime state and can surrender themselves to their work in order to create a poem which both builds on existing tradition and stands on its own". We hope BIDU will one day be able to finally achieve "standing on its own", without any help… only the poetic freedom it deserves one hundreds times over ~
Baidu.com (BIDU) is an Internet Information Provider, founded in 2000 and based in Beijing, China. The name ‘Baidu’ was derived from a poem written about 800 years ago during the Song Dynasty. ‘Baidu’ means searching for something over and over and over. In the poem though, the search revolves around a beautiful female who lost or abandoned her love. The poet describes the search for her as frantic, making it the goal of his dreams through life's many difficulties. We sense that Mr. Li, the founder and current President expressed more than what's in an average Corporate name when he chose ‘Baidu’. Mr Li deserves great credit for his guts and genius in staring up and operating his company in China: his conviction and spiritedness is reflected in his voice in the conference calls.
Before the analysis begins, we want to give our respects to BIDU's late CFO Mr. Shawn Wang, who tragically passed away only three months ago.
BIDU provides Chinese language internet search services. BIDU's Initial Public Offering (IPO) debut was on the Nasdaq 8-04-2005. The lead underwriters were Goldman Sachs and Credit Suisse (CS First Boston today) and Piper Jaffray was listed as co-underwriter. The initial price range was $21.00-23.00 with 3.7M shares offered, but the deal was over subscribed, "hot" as they say, and ended up pricing 4.04M shares at $27.00. BIDU closed up 354% at $122.54 in its first day of trading! One of our team members placed over 30 IPO's while at Morgan Stanley from 1997-2001, so we called upon him and his expertise to scrutinize the BIDU IPO and the ramifications going forward. http://www.ipo-fund.com/common/ipoprofile.asp?ticker=BIDU
BIDU's shares have a 52 week range of $92.80-$429.19. As of its March 24TH close at $240.00, BIDU's shares are up 159% from their 52 week low and down 44% from their high of $429.19, on November 6, 2007. We labored through many man hours of IPO data, conference call analysis, accounting metrics, competitive advantages & disadvantages, technical analysis, public articles/stories, as well as geo-political issues, both for and against BIDU. We avoided an exhaustive write up of all of the above data points, but we offer enough information to enable you to trade BIDU with greater conviction. After analyzing the fundamental data using our proprietary trading microscopes, we weighed the many intangible components accountants often miss. Here's our Psychological trading Call on BIDU.
The most common statistic quoted by most of the BIDU bulls relates to demographics: 1.3B Chinese, a market that is only 10% penetrated, and BIDU has a 60% commanding market share over its rivals GOOG, SINA, and SOHU. The number of Chinese internet users is tied with the U.S. at 155M, but the bulls argue that when the rest of the 1.3B consumers come online, Baidu looks like it has the ‘green pasture’ that Wall Street dreams of finding. Are bulls correct in going long because of these demographics?
Thomas Malthus would argue against the bulls. His 1798 "Essay on the Principle of Population" is still studied and cited by economists and sociologists. Malthus argued: "The pressure of large populations tends to depress wage rates to subsistence levels and keeps them there, with the excess population being eliminated by war, pestilence, or starvation". (http://en.wikipedia.org/wiki/Malthusian) Could this 210 year old theory apply to modern day China? We hope not, but our readers should be aware of the inherent problems that very large populations could face.
In a piece written on Monday March 24TH, a Motley Fool contributor stated "I am a believer in Chinese growth stocks" and pointed to today's price of only 37X next year’s earnings. We have to question whether the harsh regulatory environment, mounting inflationary pressures, Shanghai Index down over 40%, and recent geo-political tensions with Tibet warrant a 37X forward P/E. How about 30X P/E, which translates into $195/share, or 25X P/E = $162/share. We also question whether the 2008 Beijing Summer Olympics caused advertising revenues to rise to ‘bubble’ levels, and if that's true, what happens if the growth estimates that bulls are using turn out to be too optimistic for 2009?
Yes. Disaster.
The shares would fall to reflect a completely different denominator/profit; so going long based on a forward P/E in an environment filled with geo-political uncertainty is irresponsible in our opinion. Only rarely should you buy a stock based solely on fundamental analysis. To the credit of the Motley Fool writer, he does point to geo-political tensions in his piece, but his prior write ups missed that component and we’d rather not have to piece together someone's thoughts from several articles to understand how they truly feel.
As always our goal is to give you a look at the entire picture from ‘top down’ to ‘bottom up’. ‘Top down’ analysis refers to researching the macro geo-political and economic environment a corporation finds itself in, and "bottom up" analysis targets specific companies from their core first, not factoring in the macro risks. We strongly believe a ‘top down’ analysis must be understood before committing to buying any Eastern asset, especially in China. Perhaps Jimmy Rogers' argument for the commodities bull market in China makes sense, but every market tops out eventually.
Let's turn to the 46th minute of the Q4 2007 conference call (CC), streamed on February 13th, 2008. (http://ir.baidu.com/phoenix.zhtml?c=188488&p=irol-presentations) Analyst Robert Peck asked what turned out to be the best and hardest question: "What happens if there's a global consumer recession". Mr. Li answered, "I'm not an economist". He later defends BIDU as insulated and with market share leadership. Ironically, Robert Peck was employed at Bear Stearns at the time. We give Robert credit for asking that forward-looking question, and ask our readers to follow Robert's career; we definitely will as forward thinking analysts are rare. Listen to this exchange and you'll detect the relevance of the Psychology of the Call. At the 3 minute 17 second mark Mr. Li attributes BIDU's recent successes to growth in advertising from large "financial services".
The recent 40% pull back in the Shanghai Index cannot help this metric in the current quarter as many large financial Institutions are looking at eroding balance sheets due to stock depreciation, which will likely crimp advertising campaigns. When an Index falls 5% or 10%, or even 15%, that’s considered a "healthy correction." When an Index falls more than 20%, in the Shanghai case 40%, that’s classified as a "bear market."
http://finance.yahoo.com/q/bc?s=000001.SS&t=5y&l=on&z=l&q=c&c=
A bear market ahead of the biggest commercial/advertising event in China's history? Unfortunately that's a fact!
Lastly, at the 15 minute 10 second mark, BIDU guides their revenues down for Q1 2008, citing severe snow storms and the Chinese New Year. Remember the 4th Commandment: never accept excuses from management. What will happen on the next quarterly CC when management must address the bear market as well as recent Tibetan unrest? Will BIDU say the advertisers may tighten their belts because the Chinese government may ban live footage from Tiananmen Square? Have you any idea of the effect this would have on ad revenues? http://www.cbsnews.com/stories/2008/03/22/world/main3959856.shtml So please don't be fooled by Motley's mention of 37X next year’s earnings. In other opinion the Summer Olympic months ahead may well present incredible operating challenges.
Here’s where we see the biggest hurdles for BIDU: 2009 may seem light years away for shareholders if the Chinese government stumbles and falls. Unfortunately, the government still has a lot to say in regard to human rights and freedoms and here's where Mr. Li's genius lies in choosing the name Baidu. "Baidu.com's Poetic Struggle" in China is well documented and cannot be addressed by accounting. Forecasting China is more of an art in our opinion, like a poem perhaps, but definitely not an exact mathematical science like accounting.
In September of 2007, BIDU launched a proprietary online Olympic news site. The shares climbed from $200 to their 52 week high of $429.19 within 2 months. No doubt this was correlated to optimistic anticipation of the Olympics. Most of the Olympic hype and premium has since eroded, but is the erosion complete? Ironically, BIDU's 52 week high of $429.19 was printed the exact month they launched Baidu Finance Online, a site focused on stock prices, market news, and accounting data. But maybe that was just coincidental; maybe our next example is the true reason BIDU has fallen 44%.
Five months ago, the Chinese government was accused of cutting off the ability of U.S. search engines to operate, allegedly redirecting traffic to Baidu. Should any world government be involved the operations of a public corporation? Although this is fundamentally positive for BIDU in the short run, it reveals the lack of freedom in Chinese corporations. Perhaps BIDU's market share would not be at 60% if government allowed true competition. In addition, could the fiery growth rate of BIDU be cooled down in the future by the same government that fans the flames today? That is the type of "top down" analysis we want you to embrace along with the fundamental accounting data. Never trade on growth estimates without weighing the psychology of the geo-political environment. Emerging markets are called "emerging" for good reasons. They differ from ‘developed’ markets in that developed markets exist under more ‘efficient’ democracies, and therefore greater human freedoms and rights.
China was irked by an award that the U.S. bestowed upon the latest Dalai Lama, a Buddhist spiritual leader, in a succession that coincidentally dates back to the 1300's, the same time as the Song Dynasty and the inspiration for the poetic name Baidu. The poetic struggle in finding freedom comes full circle here, and the Baidu name now takes on more meaning than a simple Corporate name. It is a symbolic name. Baidu represents the search for that ‘beautiful’ freedom (over&over&over&over); we sympathize to a great extent with the brave Chinese people and the obstacles they still face. (http://searchengineland.com/071018-071828.php). No democracy should limit 1st Amendment Rights, but many BIDU bulls continue to offer forward estimates in the face of a dangerously controlling government. Politics in money and banking is a pressing issue even in the U.S (please read our prior piece “One Wounded Bear and Two Gov't Officials Wake Up the Bulls"). But the "politics" in China are of a more dangerous and potentially virulent nature. We refuse to take sides to what is an ancient conflict with Tibet, but we sympathize with the Tibetan Buddhists as well.
BIDU is facing a Shanghai bear market, rising inflation, rising interest rates, a government controlled economy, and an Olympic Games in danger of not being televised. The reason many bulls bought BIDU shares over the last two years had to do with their optimistic view of a successful Beijing 2008 Olympic Games; that optimism is eroding fast. On Tuesday France's Nikolas Sarkozy threatened to boycott China's biggest Olympic moment. Only today the European Union urged China to handle the uprising in Tibet with restraint and to avoid volence, while the Belgian government refused to rule out a boycott.
In considering all of the above it's our opinion BIDU shares have a higher likelihood of trading down to the $150.00 level before breaking through $300.00.
http://finance.yahoo.com/q/ta?s=BIDU&t=5y&l=on&z=l&q=c&p=&a=&c=
We urge our readers to avoid BIDU until we get a sense of how bad the current operating environment actually is. That will be addressed on the next CC, which you know we will cover in great detail for you.
Lastly, Mr. Li's struggle is in the perfect poetic tradition. Wikipedia states that "The poetic tradition is a line of descent of poets who have achieved a sublime state and can surrender themselves to their work in order to create a poem which both builds on existing tradition and stands on its own". We hope BIDU will one day be able to finally achieve "standing on its own", without any help… only the poetic freedom it deserves one hundreds times over ~
Okay maybe it has changed then, on Forex with a broker account you can get 0 spreads and pay a comm or very low. Sounds like you have the best that you can get. I just see people all the time put in market orders and get raped.
I get 7 dollar trades and I trade a lot. I thought it was worth switching over but now I can not use the option strategies I use to be able to use. Scottrade has been promising over and over that they are going to make all option trading available but they have not done a damn thing!
I keep complaining and they keep giving me free trades :biggrin:
I transfered some cash over to my zecco account since I finally sold one of my sport bikes. I think I'm going to wait until steven is going bezerk with bidu 350 then I'll go short right before he sells for extra momentum.
Seriously though I'm a close watcher of the asian markets, the Hang Seng for instance hasn't had a real pull back [minor at 23k] since 21k and it's at ~24k now. The last time it had this kind of run was in Dec from 26k to 30k. It fell hard and long from there.
If you run BIDU against the ^HSI there is an exaggerated relationship with BIDU running wide from the ^HSI's movements. Before it was to the upside, recently [3 months] it's been exaggerating it to the downside. I predict it'll have a fat drop as soon as there is a little correction over there.
Seriously though I'm a close watcher of the asian markets, the Hang Seng for instance hasn't had a real pull back [minor at 23k] since 21k and it's at ~24k now. The last time it had this kind of run was in Dec from 26k to 30k. It fell hard and long from there.
If you run BIDU against the ^HSI there is an exaggerated relationship with BIDU running wide from the ^HSI's movements. Before it was to the upside, recently [3 months] it's been exaggerating it to the downside. I predict it'll have a fat drop as soon as there is a little correction over there.
- Joined
- 18 July 2005
- Messages
- 2,636
If you're looking...Ameritrade is the best trading platform I've seen. IB is damn decent, but when you trade in lot sizes like we do, Ameritrade is cheaper. I'll send you an invite, and you can get a $50 gift card to fill up your Ferrari. :biggrin:
I-Zone is Ameritrade's unknown DEEP discount broker. If I used that platform I could get $5 trades. However, I'm addicted to the free Level II quotes and streaming news I get with Ameritrade Apex status. They give you a direct number to a rep, and you can even speak directly with the bond trading department. Customer service is second to none. They've eaten trades and dished out free ones for me.
Steve, I'm long AAPL. I suggest you build a position.
- Joined
- 18 July 2005
- Messages
- 2,636
It's always been that way with equities. That's the whole point of a limit order.
FWIW.....I very rarely use them....but a market order on the NASDAQ is not nearly as dangerous as a market order on the NYSE. A NYSE specialist sees a market order come in and just licks his lips. Bastards.
Well the market sure is not acting rational to the numbers out this morning.
If BIDU gets past 292 I would guess 300 plus is coming. I guess I got all wrapped up in the big drop when I should have been taking the little 4k profits I saw pop up 4 or 5 times.
Thinking about covering here and shorting at 300 rather then cost averaging at 300.
If it goes to zero I am going to buy this....
http://cgi.ebay.com/ebaymotors/Mave...ryZ63678QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
If BIDU gets past 292 I would guess 300 plus is coming. I guess I got all wrapped up in the big drop when I should have been taking the little 4k profits I saw pop up 4 or 5 times.
Thinking about covering here and shorting at 300 rather then cost averaging at 300.
If it goes to zero I am going to buy this....
http://cgi.ebay.com/ebaymotors/Mave...ryZ63678QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
- Joined
- 18 July 2005
- Messages
- 2,636
Man....this BIDU is ridiculous....keeps going. Buy some aapl. If aapl goes back to 200, i'm paying off my mortgage. :wink:
Man....this BIDU is ridiculous....keeps going. Buy some aapl. If aapl goes back to 200, i'm paying off my mortgage. :wink:
Did the whole market just slow down?
I was trading aaple this morning, up 1200 so far. waiting for a pull back to buy big and go long.
I think a lot of this is shorts from 200-250 area on bidu
It's on the seesaw. Looks like it's losing steam around 290.
CHL has made a strong move since I got it at 74 and change on monday, I'm taking profits now.
I did the same yesterday, took a lot of my profits off the table. Looking to get back in on a pull back.
I agree it is losing steam, I may have to sit on it over the weekend but I really don't want to. I would like to just get a buy stop in when I am green 10k.
i'm in the whole along with you guys... -110/per.
i mismanaged a trade that cost me 150/per in profit, which pisses me off. Not much life or oppritunity in the tapes. I thought we would have good trading today once we cleared the econ news this morning.
Looks like the market makers had something else in mind.
Good luck with the rest of the session gents.
i mismanaged a trade that cost me 150/per in profit, which pisses me off. Not much life or oppritunity in the tapes. I thought we would have good trading today once we cleared the econ news this morning.
Looks like the market makers had something else in mind.
Good luck with the rest of the session gents.
I usually just trade CME but I've been going over their merger and am wondering how much value it will add. Very little of any added value has already been worked in to the share price if there is any. Market is getting a tiny bit of steam but it's not getting me excited.
manipulation if you ask me.
If I had to guess I would say the only reason BIDU is up so far and holding is so the MM's can unload what they bought higher not lower. I figure they pushed it down to 207 cost averaged it and are unloaded their 207 shares with their 350+ shares and getting out even.
I know they can't be buying a stock with a 110+ PE.
Still in and down 6218.
If I had to guess I would say the only reason BIDU is up so far and holding is so the MM's can unload what they bought higher not lower. I figure they pushed it down to 207 cost averaged it and are unloaded their 207 shares with their 350+ shares and getting out even.
I know they can't be buying a stock with a 110+ PE.
Still in and down 6218.
Bold man. I understand FSLR's market position, their technologies, market advantages, but I don't know what justifies its valuation. I was considering going long if it got beat down enough but the chance never came.
I'm watching bidu like a hawk though, I expect I'll be pounding that one in to the ground sometime this week. AAPL has had a hell of run recently as well.
The market lost 100 pts today and no one is mentioning it because we finished up 3 pts. Alcoa's earnings were actually a little better than I expected. Just wait til the rest of the players come up to bad, there are going to be some nasty strike outs.
I'm watching bidu like a hawk though, I expect I'll be pounding that one in to the ground sometime this week. AAPL has had a hell of run recently as well.
The market lost 100 pts today and no one is mentioning it because we finished up 3 pts. Alcoa's earnings were actually a little better than I expected. Just wait til the rest of the players come up to bad, there are going to be some nasty strike outs.
If it were liquid I would just wait till the drop starts and ten jump in but there are any short shares to grab quick and when it falls it is going to be quick.
- Joined
- 18 July 2005
- Messages
- 2,636
Still long AAPL. I should have sold yesterday @ 159. 
Damn analysts.
Damn analysts.
Still long AAPL. I should have sold yesterday @ 159.
Damn analysts.
I am long too at 157.53
Long goog too at 482.20
Edit, trading BIDU all day and getting my ass kicked, I have lost 20k on bidu in the last 2 days.
Similar threads
