Just last week, I noted the odd buying of BIDU puts... deep in the money March 125 puts. BIDU today is down over $5. I am dumping my BIDU March100 puts which I have held at times with great, great discomfort, bought at $1.50 with an order to sell at $6.30. After earnings my original call was for the stock to drop to the $92 area or its 200 day moving average, but taking profits now just a few days before expiration is the wise thing to do.
http://buttonwood1792.blogspot.com/2007/02/baiducom-bidu-gets-hammered.html
http://www.streetinsider.com/Analyst+Comments/Citigroup+Comments+on+Baidu.com+(BIDU)/1830859.html
http://www.breitbart.com/article.php?id=070313174848.0l86ko5y&show_article=1
NEVER trust an internet company that, 1) uses a tax benefit to beef up EPS, and 2) fails to grow sequential revenue.
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