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Wednesday, October 28, 2009

Baidu Again

BIDU target: About $406. I have it charted as a possible 62% wave [ii] retrace zigzag or double zigzag, take your pick.

BIDU should not be making new highs (under ending diagonal rules it wouldn't make sense) and therefore I have no reason to believe it will close its gap.

Lots of confluence of targets match right around the $405 - $406 area particularly the 20DMA
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