On a purely technical basis I am cutting out a layer of Baidu.com (BIDU) here as it just hit its 200 day moving average of $260, and is up near 9% for the day. My strategy is purely technical; I will buy these shares back either (a) lower - if this is a failed rally or (b) higher - around $280 - if this is the start of a new surge.
I am buying back in the mid $280s , and in scale (75 shares)... another technical breakout of a stock coming off a long base.
This takes my Baidu.com exposure from 0.6% to 2.6% of fund.
I'm seeing a lot of good technical action in quite a few charts for the first time in a long time...also adding Apple (AAPL) near $150.
Long Apple and Baidu.com in fund; long Baidu.com in personal account
