Trade Update: From Tuesday night’s FM call on Baidu

By Emerging Money>,

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Tuesday night on Fast Money I recommended buying Baidu ( BIDU , quote ) on a break through the 50 day moving average and the 20 day moving average along on their focus on online video acquisitions.

Image courtesy bfishadow:

Baidu recently bought PPStream Inc. for $370 million.  The stock has moved 6% from that point and has little resistance on the chart until $102.56.

Trading Baidu hard however would always be advice I would espouse.

Taking profits or cutting the position here would be prudent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
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