Thursday, November 09, 2006

Sector Watch and BIDU Chart

It will be interesting to see where the money flows over the coming days. I am not going to make any guesses, but will monitor where the "smart money" ends up very closely. Here is a snapshot of nine sectors tracked by the S & P, courtesy of

BIDU (, Inc) has carved out a well defined trading range over the past few weeks. The more aggressive trader will see BIDU's recent tag of resistance as a failed breakout and go short. The more conservative approach would be to wait for a breakout over $97.50 for longs or a breakdown below $82.50 for shorts. Negative divergences in Stochastics and RSI make me bearish on this stock.

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