Baidu.com, Inc. (Nasdaq: BIDU, stock) has a spectacular run today as if it had taken steroid. It’s been about 3 weeks since I last made some money from this stock. Time is bad and the stocks are volatile so it’s not easy to spot an opportunity. Decided to Open position on BIDU APR 270 Call Option today when the stock was trading at about $272 and closed it at about $278. The stock is trying very hard to penetrate every level from $272, $274, $272 and now $280. I’m not going to wait and see my profit wiped out should the stock gives way all of a sudden.
It’s just slightly over 18 percent profit but I just love the challenge of scalping the options to make fast bucks. In actual fact the huge percentage gain today was giving me bad feeling that it might not survive. The Dow has been good to me since the opening bell but the S&P is in red now. Too bad Apple Inc. did not present a good trading opportunity today despite the news that it’s iPod Nano battery could gives the company a slight hiccup.
Can’t be too greedy – one has to run and take the money off the table else you might be punished severely. Trust me, it happened to me many times. Once you’ve locked the profit, just switch off your notebook or close your trading session. This is how I prevent from kicking myself should the stock goes further north (or south if you short it)
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March 12th, 2008 by financetwitter
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