12-12-07 : BIDU failed to break above 400

Break above 400 has been the aim for last few days, and it consistently failed. Last nite it broke 400 and went on to 410, only to find itself dropping below 380 box btm support. MACD cross 0 down sharply. The selling force is strong at 400 level. I think its bearish for now. May go for a put tonite if cont to be bearish. May drop to 350.

Trade setup
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Option : Jan08 $370 Put
Price : $25.00
Cut : $23.00
Profit : $29.00
Duration : 3 days
Risk:Reward : 1:2

Daily
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15min
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