We have often spoken about BIDU to our subscribers in our newsletter. It has held remarkably well for this market. Let's take a look at the Nasdaq and BIDU over the last 3 months to illustrate this point.
This is the reason why we say that BIDU should be on your lists every day. Every year there are a new crop of winners --for example in the last two years there was great action in stocks such as TASR TZOO GOOG AAPL SNDK. All these stocks, with possibly the exception of GOOG, are completely broken now (even though TZOO has found some renewed momentum these last few weeks). Often great winners of last year who could do no wrong, like AAPL SNDK, now could not possibly act any worse. The torch has been passed this year to the new crop of momentum winners, stocks like BIDU GRMN HANS; even though we cannot forget this is bear market action in which we find ourselves, and thus upside momentum has been somewhat absent recently.
Always watch the winners and have a place for them on your list every day. Watch how they act relative to the market. And never get married to previous winners. We are great believers in loyalty -- loyalty to our families, friends, and to our nations; but this great quality in life has absolutely no place in trading. By next year we will have new winner stocks to watch every day and most likely have short positions on this year's winners. The only loyalty we have in trading are to chart patterns and to our own rules of engagement. Everything else is just a ticker -- 4 letters that can represent a profit or a loss.