Bookkeeping: Closing Baidu.com (BIDU)

We've made a couple of very good trades on Baidu.com (BIDU) since we've jumped back in the past month - despite a poor chart; similar charts in Apple and Research in Motion - none of these stocks are really acting well during this period of calm in the market. (Apple acting very poorly in fact, RIMM saved by an earnings report but still nothing to get excited about)

I want to focus our energy on stocks that have used this type of calm in the market to regain key moving averages and cut out names that have not. Baidu.com is one of the latter - we sold most of it last week hoping that perhaps it was building a large base that would lead to an upside resolution; but hope only works for Obama stocks it appears. We'll return at a later date to this name; in a bull market we'd almost never own a chart this bad. We want to focus on relative strength, and on the next correction load up on those type of names. Apple, Baidu, Research in Motion have charts that look no different than oil producers or mall based retailers - all poor; just "a little less poor" than a month ago.

All we had left was our 0.1% stake (holding position) so we are exiting that tiny piece in the $125s

No position