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Monday, October 26, 2009

Baidu Ending Diagonal

As I shown over the weekend, BIDU wasn't likely to go the way of Apple and AMZN due to the apparent Ending Diagonal formation.

I played this chart today and bought only my second options ever. $300 Nov out-of-the-money puts for $.30. It hit $375 in A/H's and dribbling down. Since I am no option master, I have no idea what they would fetch tomorrow if its does sell under $400.

My first options? AMZN a few weeks back, and that didn't turn out too well heh.

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