7/9 Recap $GOOG $BIDU

(Click chart to enlarge)

(Click chart to enlarge)

 

We were long the July 905C from 23.25 coming into today.  Got a decent gap up, but MACD on the 5 min turned bearish, selling pressure came in and GOOG broke the SMA so we decided to take the calls off so this didn’t turn into a losing trade.  Got a fill around 26.30 for +3.00.  We are still bullish on GOOG as it held the lows from yesterday and fought back to close green on the day.  Next entry will be >910.5 and we will be eyeing the 905C once again.

 

(Click chart to enlarge)

(Click chart to enlarge)

 

BIDU was flagging on the 5 min, holding above the SMA with MACD bullish.  BtO the 90C 2.98 and scaled out 3.25/3.55/3.50.  On the daily chart, BIDU closed above the 10MA with MACD starting to curl but not quite bullish yet, and put in a short term double bottom.  It closed above the highs of the last two sessions, so we are putting this back on the watch list for a long tomorrow, >93.00.

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