LOCM

Quick update on my holdings.

I sold LOCM on Friday at $5.24. The stock price broke below the all weekly EMA I use. As well, if I changed to use weekly EMA than daily EMA, the 20-week EMA actually failed to break above the 100-week EMA (there is no 200-week EMA for now). So if I used the weekly EMA to enter the signal, I shouldn't enter into the position at all. I took the 25% loss and move on.

BIDU broke through $400 and closed at $409 on Friday. It went up faster than I thought, I wonder should I take profit. If I take the profit it's primarily due to the speed of its move in such a short term, as well as I have capital loss to use to offset my 18% gain on BIDU. Market will still put more focus on subprime ripple-effect on all financials these days, at the end it may affect the sentiment on BIDU. I guess I would like to take the profit by this week as I anticipate BIDU to retreat and it may retreat to as much as low-$300. I will then buy it back.

Remember I mentioned that on a newspaper a columnist paper-traded and sold short BIDU at $180. This guy is still holding his short position..... sitting on a loss of 127%. I don't know what this guy is thinking. Anyhow, this guy hasn't updated his reason for holding the position. How ridiculous.