I believe GOOG was about a week after the IPO. There should be news soon on a date for listing them. Too bad you can't short for 30 days. I wonder if there are a lot of accidental "oversells" today......
This thing is crazy. I don't follow stocks usually, but I had to pull up a chart on this thing to see what was up.....I watched it pop about $12 over less than two minutes right before my eyes. It's up well over 100% on the day currently. I'd have to think that, given the fundamental data I saw this morning, this thing will implode sooner or later.
you meant to say up over $100, right? it's up several hundred percent for day, currently. a high price vs fundamentals is not enough to short. timing is key. look at goog. and kkd took a very long time before it imploded. good luck.
I meant 100%. My understanding is the price was $20, but the "opening" price on my chart was $66; since I judge one day at a time, it was up more than 100% on the day. Also, I am not advocating shorting it (though options would be tempting if it started to look weak after a while). You'd have to be either suicidal or a masochist. Google, Taser, and countless others prove it's not smart to short strength. But I do sense some over-enthusiasm a la 1999 here. This thing could drop 50% as easily as it gained 100% today.
got it. sorry, you're right it didn't open at the IPO price. it gapped up. timing is the key on these guys. we have to keep looking at the news and fundamentals if there's significant shifts that could change the direction of the momentum/sentiment. options/puts would be nice when they come out, but still have to time it, correctly. Good Luck and Good Trading.
BIDU is just a play thing for the hedge funds & momo traders. BIDU is not even the actual chinese company but shares of a holding company in the Caymans that owns shares of a diff company in the east which actually holds the shares of Baidu, as it was explained in a different thread. If you own ticker symbol BIDU, you own absolutely nothing and even if BIDU starts earning $10 a share, you may never see any of that money. Complete BS, even a pump & dump artist like Cramer wont get aboard. Leap puts even at this price are like free money, IMO. Even in my limited experience I've noticed that the "legit" pump & dump plays (like KKD, FMD, TZOO, TASR, etc.) do not last very long. Too many traders get in and the action gets strangled so the masterminds simply get out and go on looking for the next scam. BIDU does not even have the legitimacy of KKD, let alone profitable companies like FMD & TZOO so unless some smarta$$es will keep shorting the actual stock, I doubt BIDU can sustain its price let alone go on ripping for more than a couple months.
facts. just facts. of what use are facts to a trader? Now, I thought that there was holding company in the Caymans that owned shares of some shell company in Carribean, who's main stockholder is the second cousin (by blood) of the former CEO of Yukos oil, now jailed in Russia. Anyway, while in jail, some low-level informant told him that he'd heard on a message board that Baidu, which really makes plastic squirt guns for export to western countries, was the next big thing. And then CNBC picked up the story... so what was that about barron's and penny stocks in china? and options? Why, there ought to be options, and futures, and options of futures, and options on futures options, and fowards, and reverse repos, and even a slot on tradesports. it ought to have it's own index.