Today will probably go into a small correction and the board will light up like hell with all kinds of negative BS, I cannot believe this market, traders today feel the stock they purchase has to go up everyday on regular session, pre-market and after hours. Bidu is a solid investment in my opinion based on earnings (facts not opinion) I believe bidu will soon be trading above $145 The same traders who sold 2 weeks ago are the same traders that have been buying the last few sessions at discount prices and are waiting for a repeat.
If you noticed at about 0800 hrs. It was up $1.80 and about 0900 hrs. It had turn south - .7 i expected some profit taking considering it has rallied over $10 in the past few days. i think the big players manipulated this stock on a huge sell off creating a massive sell off making bidu drop like a bomb in the 5 negative days in the market. i find it hard to believe that traders will fall for a repeat in this head game created by the wealthy and to benefit the wealthy. they sold of in the $139 range creating panic and a massive sell off, a lot of traders panic and sold off their holdings at a lost only to benefit the big players now picking up millions of shares at discount prices. Baidu has been rated a buy with a target price of $200, regardless how i feel about baidu i believe that to be steep in this market, $168 to $175 more realistic.
My guess last night was the same as yours this morning, that after yesterday's huge jump, we'd probably see some pullback. Don't worry about it; the only guys who are never wrong are those that never play. And we weren't even exactly wrong: the overall market's flat, not up, although China stocks are having a good day.
In my opinion, that's due to the Chinese central bank easing Chinese banks' reserve requirements vs. their loans. While not that dramatic an action by itself, I think it's being given larger importance as symbolic of a general change in Chinese monetary policy from tightening to more aggressive growth.
No WeiGH it's correcting tomorrow. Another run tomorrow to push $140 then it'll settle around $137 and then who NOSE what will happen on Monday. You say correction tomorrow but it was in a bad patch the previous 10 days (before two days ago). Tomorrow will be good and I'm (literally) betting correction on Monday.