Bookkeeping: Continuing to Sell Down Baidu.com (BIDU) and Mercadolibre (MELI)

Parabolic charts make me nervous. I realize these names are hot, but I am going to continue to sell down, just like I have done with the commodity stocks I like, as the charts go at nearly 90 degree angle upwards. There will be a sell off in all these names going ballistic; the question is when and from what price point. I'll let other people chase these up, and buy when the last ones on the ship start panic selling.

I cut both these yesterday worried about an adverse Google (GOOG) reaction (wrong! but at least you see the thought process) [Apr 17: Reducing Baidu.com, Mercadolibre Ahead of Google Earnings], and am taking out another layer from both, to sub 0.5% stakes. No change to fundamentals of course - the froth level is starting to set off my radar. We are now reaching level alert Orange on froth...

Baidu.com is up nearly 9% to mid $330s, MELI is up nearly 6% to near $53. They've come a long way in a short time.

For those of you who follow options; and speaking of speculation ....if you wanted a lottery ticket you could of bought Apr 500 calls yesterday for 55 cents... if you bought 100 calls that would cost you $5500

At today's price of $543 for GOOG, you would have $430,000. Not bad work for 24 hours. :) Now that's a bet on black!

Long Baidu.com, Mercadolibre in fund; no personal position but wish I was smart enough to buy 100 April GOOG 500 calls yesterday at 3:50 PM.