My total speculation on Baidu
I thought I was so smart – Baidu (NASDAQ: BIDU or here) went public on Friday and there’s lots of hype on how it’s the Chinese Google.
- So yesterday, Monday morning, at the open (6:30am) I bought some shares at $139/share. Surely there is a bigger fool
- A few minutes later are indeed lots of fools and I sell 1/2 my shares at $149.
- The stock then peaks soon after at $153.
- And sinks through the day
- Today, panic! I put in some limit orders to sell and the one at $105 triggers. The one at $95 was almost hit.
- It’s not resolved as I still have shares outstanding, and yes, of course, why didn’t I sell it all at $149 – I thought I was being smart by locking in some gains by selling 1/2 the shares at $149 and surely there was enough froth for it to keep going up. There are some stories that people can start shorting BIDU as early as tomorrow, but there are not amny shares available, so maybe some kind of short squeeze will save me…
This is what has happened so far:
And this is what I expected, the Google trajectory:
