I shorted 1,000 BIDU at $258.75, it took a couple minutes because of pre-hours, but I am feeling pretty good about this one. I just wanted to get something up early for people that was this blog like a play-by-play. I’ll play a loose stop, probably risking up to $5k on this deal.

The slow activity doesn’t give me much hope and since I’m not able to put a stop at $2.00 above my entry price because it would get taken out too quickly, I’m going to just sell with the profit I can get and be satisfied that I didn’t lose money on this slow move. Is there more room for profit on this trade…

The market isn’t moving upward or downward, more sideways for now. I’m good with that, as long as BIDU doesn’t lose any ground. Pre-hours I bought 1,000 shares of BIDU because I thought that I would take advantage of a quick jump that I thought was going to happen. While I have a semi-loose stop, I also put in a sell $5.00 above where I entered. Well …

The market was heading downward today, it was pretty obvious from the opening bell the direction. I knew that I was on the right side of GOOG and BIDU today when I shorted, I just didn’t know how far I could have taken GOOG and BIDU dow before they leveled or came back up. Turns out I was really far off, but since I made profit and was able to not watch the market all day (which drives me crazy), it was good for me.

The market isn’t going upwards today folks, so with a wide stop allowing playing room, I should be alright for making some profits. The best part about today’s trade for me is that I’m not just betting against one stock, but two different stocks. I don’t usually go against GOOG but that’s only because BIDU has been doing well for me.

I covered. Probably a little earlier than I should but I’m not interested in wathing potential profits slip away and the market is too much of a distraction today. I moved my stop after entering this morning, then I moved it to $312.78, which would have been a $10k loss, but thankfully it never went that far! Instead I profited $10,430 on today’s trade.

It wasn’t meat to rhyme, but it does. This is a pretty big position based on my financial position. I had $50k in cash and slowly grew it to around $87k, and with a 4:1 margin, I’m just flush with stupidity and the wanting to use that. Ya, consider this a moronic move. It’s too early to find a trend in the market for today and go with it, so I’m just going with a coin flip. Only I didn’t flip the actual quarter that I’ve used in the past.

$10 is plenty of money for me to profit on a share of stock. The fact that I had multiple shares of the stock just makes the multiple that much better. So I made a decent profit and now I’m curious if I should switch directions and go long. Since the stock dropped another dollar plus after I got out, I wondered if I just missed the bottom area…

I took a big chance here.. I went against the usual trading style that I’ve been using of followng the trend and figured that today’s closing time would be a good time for me to short BIDU. At closing.. not the brightest move. But I figured that if the stop gets close to keeping me from losing money, I’ll be alright. Would you short like this?

Well, the second trade of BIDU for the day seemed to be the one that was worth sitting on until later. I was quite pleased with the exit I had and believe that it was a good choice. With the DJI going up 290 points but the NASD not showing anywhere near that strength, being in BIDU was just like printing money.