Rob Looks At BIDU Tonight

Welcome back everyone!  We are going to switch gears tonight.  We are going to take a look at BIDU today.  A lot of people in last night’s special event were asking about this one.

BIDU is kind of a hold at the moment.  There is a lot of potential opportunity with this one.  We have resistance in the back drop that is currently still holding us down.  We used up a lot of rocket fuel just to get back to the previous resistance.  This this has been coiling up for well over a year and a half.  It has been getting tighter and tighter over that time.  You will see a lot of distribution going on.  For those that came to my special class last night you know that this is a big deal.  Each one of those have held us down from there.

I want to break above those recent highs, then take back off.  Yes, we will have some challenge points along the way here.  As long as this break out point becomes support, this could lead off to some huge momentum based moves to the upside.  It is the same to the downside.

There has been other markets that were just like this year.  When they finally broke, they usually broke big.  Let’s keep out powder dry on this one, rather than be a hero for a couple of bucks.  Let’s see if we can get a real trend on this one.  Even if we miss a few bucks on the initial move, we are part of a bigger move.

Those are my thoughts and I hope you all have a great night.  I looking forward to seeing everyone in tomorrow’s Live Trading Room or in tomorrow night’s videos!

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