Buy or Sell: Sell
Short into Week 45 – AAPL, BIDU
Add to watchlist as initial or secondary pivots:
BECN – 30.90 to 32.45
CHUY – 28.49 to 29.91
CTRX – 48.74 to 51.18
DDD – 40.69 to 42.72, 44.90 to 47.15
ISRG – 552.03 to 579.63, 570.05 to 598.55
KORS – 57.45 to 60.32
LL – 54.10 to 56.81
PNRA – 162.10 to 172.31
PRLB – 36.60 to 38.43
SLW – 40.60 to 42.63
VRX – 61.21 to 64.27
Add to watchlist as secondary pivots only (or higher risk initial pivots):
CHUY – bounce from 50-day
DVA – 113.58
EBAY – bounce from 50-day
ESRX – bounce from 50-day
GOLD – bounce from 50-day
GPS – bounce from 50-day
KORS – bounce from 50-day
RMD – bounce from 50-day
VRX – bounce from 50-day
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Dangerous to short Baidu here. Use tight stops. It can move up 3-4 pts in one day. Once it makes its move it will move back to 115 fast. Then level off until after Qihoo 360 earnings. Then from there it will start back up based on its domination in the Chinese market, the fact Qihoo is no real threat to their market share, the updates that will occur on monetization of mobile, the rapidly improving Chinese economy and the stabilization brought about by regime change and possible additional stimulus.
I always use stops for my trades, and especially tight stops for shorts in times like these. BIDU is under the 200-day moving average and was just rejected by its 50-day, clearly a bearish intermediate term signal.