Many people talk about this going to 350. Sure it could but I think many fail to see that this already had a huge run over the past couple months. It already had a nice run again from 265 to 300 without a down day. Let's see if it really can hold 300 but I really think we are close to being done. The big guys will/are dumping their shares onto the small guys.
I think people forget that this was at 170 not too long ago. Yes, it had a strong run but nothing lasts forever. Volume hasn't been that great lately and how many people are really left to get into the market at this point? We're pretty closet to the same level as last year at this time. That's just not realistic with BIDU at this time. This stock got way ahead of itself and we should see a good correction coming. I think 220 is totally possible within the next couple weeks.
The Shanghai Composite is approaching much resistance at 2950 and closing at 2930 on Friday it already shows signs of losing momentum. I just can't see it going above 3000 level at this time. Sure, Bidu does it's own thing but let's see how it will react with China market pulling back after it's 25%+ run over the past months...
I'm happy with Puts on Bidu at this time. If I had anything long I would sell at least 50% for profits as this is very likely to have a significant pull back.