9/27/2010

BIDU goes Parabolic

I think the stock market is topping out. Blogger sentiment is extremely bullish and stock market sentiment is relatively very bullish. In the midst of these sentiment extremes, BIDU is going parabolic. I think this stock is a good short bet, though it could have a bit more upward thrust before reversing.

092710_bidu_daily

You can see in the daily chart above that since consolidating after it’s split in May, 2010, BIDU has rallied in a parabolic trajectory. The fact that 5-waves can be traced out tells me that this rally is near an end. Furthermore, when sentiment is bullish and individual stocks are going parabolic, I believe it’s a safe bet to short.

2 comments:

The Money Paradise said...

your chart shows that it is right time to sell it for those who are not ready take any risk of falls but good bet for those ready to risk. it may go up slightly the edge of your chart is showing up.
nice chart. Keep blogging.
Thanks

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