Bookkeeping: Cutting Baidu.com (BIDU) on Gap Up

After so much hemorrhaging the past week and a half I am going to take profits when offered and with Baidu.com (BIDU) up nearly 17% I am going to cut most of the position and wait for a pullback. If no pullback, that is fine - I am harvesting cash as I wait out this worst of breed rally. If you haven’t noticed this is not a buy and hold market… that said, stocks that have gapped up like this have a tendency to run, but in terms of portfolio management and desire to raise cash until I can figure out this “new paradigm” of selling stocks that beat earnings and buying stocks that miss, I am culling winners. Any market led by junk is not a market I trust….
Original Source:

  24 July, 2008| Fundamental Analysis | @ 6:59

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