I was stopped out of my position on Baidu (BIDU) as it first failed to hold above $180 and subsequently broke down below $167 invalidating the inverse head and shoulders pattern. It is set to open a bit higher today, but there is resistance looming above $167.
I’ll wait and see where it ultimately finds support before jumping back in.
BIDU Daily Chart
About Stock Trade Journal
The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders.
This blog is also a way to share my experiences and observations in the market.
