% | $
Quotes you view appear here for quick access.

Baidu, Inc. Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • jlivingstone2000 jlivingstone2000 Mar 8, 2010 3:54 PM Flag

    Covered with big loss, longs you win

    you actually have more balls than me. I have lost 1/2 my portfolio since I shorted this the day after last earnings. I am so shot at this point that whatever happens happens. Hopefully, the momo game will end soon and fundementals will matter again. Hopefully before I get wiped out and lose my house and family.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • MM's will soon jump on telecoms and leave this piece of crap rot away until next run

    • Interesting thread. A lot of shorts threw in the towel today(it sounds like)and covered. Also a lot of sympathy from some longs. That's unusual for this thread, as well. Where are the guyus who throw out the Bwaaaaaahs!!!! Morons!!!!! Idiots!!!!!? Might this move be taking a little of their breath away? Taking profits is never a bad thing if you got any. Today was very short squeesy-like.

      I covered my March puts which I had sold and went short the April $500's. I originally had used them to hedge a short position in the stock, but I covered it at $496 and left the puts out there.

      Now I am just short April $500s and some earlier shorted April $460s. I've made back my $22/sh loss on the shorted shares. I'm green. If BIDU stays above $500 by April OE I'm a happy boy. 6 weeks seems like an eternity away.

      I'm always worried. I'm still prepared for that BIDU 10% give back. This is a very dangerous stock to own at this price. Even more dangerous to short. I think there may have been some capitulation today......maybe. Chart still looks like it's going higher, but it's blowing away from the 50 dma...dangerously far away. GLA. We'll see.

    • I am with you here.. I am down 9 k .... Still holding onto my 200 Short shares ... lets see...

      I am getting crushed.. but .. have more than 75 of cash on hand.. so hold till it drops..

      i am not feeling good for some reason.. lol...

      With you on that one

    • Hey J, sorry to hear about the losses. Perhaps a way to recover a little at a time is to sell the BIDU puts about 15% below the current pps. Then nearly every month you can recover some $ and rebuild your asset value. A normal return would be about 1.25 or so and if you can sell just 10 puts, that's $1250 a month recovered. Just a thought. Don't hold me to those #'s because they can change any time. And sometimes the options are two months apart. But good luck.

205.58+3.78(+1.87%)Nov 27 1:00 PMEST