$BIDU has been on quite a tear lately. Early last year, with the stock at $82, I went against all the analysts that said the stock was a sell. I said it was going to rally and break back over triple digits. I also observed that it was going to be "en fuego" ("on fire") again, which is exactly what's happened.
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After $BIDU broke $100 it kept going and going, hitting over $170 a share recently. The analysts that were telling you to sell at the lows are now sheepishly raising their targets as $BIDU keeps going higher.
Here's what I'm looking at for $BIDU short term: the trade is a pullback off the $170 level, which has been a tough nut to crack the last couple weeks. Indeed, once the $170 level breaks $BIDU will see a rapid rise to $200, but until that event occurs I think the trade is for a pullback.
Additionally, I spoke of a possible trade for a pullback this week in the om.com chatroom; the $165 puts at $.59 x $.70.
