After the news hit about Google threatens to leave China, Google stock took a hit and dropped about 2% in the after-hour trading. Conversely, Baidu rallied about $60 or 16% due to the potential for getting even greater market shares in search engine once Google
leaves China. On January 6, 2010, I had posted an article “Baidu At Decision Point... Up or Down?” on Long & Short Investment with my prediction that BIDU will go up. Now that BIDU has gone up considerable amount in a short period, my recommendation is to sell BIDU with this news on Google pulling out of China. Sure, BIDU could continue to go up from here but you never know for sure. So, when you have the chance to take profit, you should go for it.
I also posted "GOOGLE: Is It Time to Go LONG?" on January 7, 2010 on Long & Short Investment. It looks like Google will reach its 50 day moving average today so it presents a good opportunity to buy Google at this time. Good luck everyone!
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