Baidu: TraderMark Makes his Move (BIDU)

TraderMark's moves are read by hundreds of thousands of investors every month, his latest trade is on Baidu Inc. (NASDAQ:BIDU) now trading just under $100 per share.

Over the past 12 months Baidu Inc (BIDU) shares have traded between $35.30 and its 52-week high of $107.19.  Baidu shares are now trading with a P/E Ratio of 103.6 and EPS of 0.96.
Baidu (BIDU) shares are trading flat today at $99.45 which is just 7.78% below its 52-week high.

(http://www.fundmymutualfund.com) Finding new names who are not iterations away from any meaningful support, within a good chart, is very difficult.   In the past when I found it so difficult to find new ideas, it marked a near term top, but we are not living in typical conditions anymore.

With that I am forcing myself back into Baidu (BIDU) which has a similar setup to Rovi... a nice run, and a light pullback to the 20 day moving average where it has settled for a few days.  The company should be reporting in a few weeks so I'll cut back before then but for now I threw a 2% exposure on the table to re-open the position.

SOURCE: http://www.fundmymutualfund.com/2010/10/bookkeeping-restarting-baidu-bidu.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+FundMyMutualFund+%28Fund+my+Mutual+Fund%29