Baidu.com, Inc. (NASDAQ:BIDU) is showing signs of wanting much lower prices as we are seeing our key moving averages turn down on the daily and the stock is seeing rejection at those levels. From our initial suggestion to short this stock in the low $140’s, we are now seeing signs that BIDU will achieve target #1 (low 120’s) and potentially #2 (110 area).

The SPDR Gold Trust ETF (NYSE:GLD) saw heavy selling along with the entire commodity complex two weeks ago, but we have seen very little follow through from that point. I still believe GLD can go lower but stops need to be kept very tight here as we don’t want our previous pivot high in the mid $148 area get violated. Ideally, this is the spot a trader wants to look to be in a tier 1 initial position with tight stops. Heavy volume selling with light volume retracement is never what you want to see if you are looking long.

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Evan Lazarus
Evan Lazarus is the Chief Knowledge Officer of T3 Live. He leads the company’s strategic vision for trader education and manages all of T3 Live’s intellectual property. Mr. Lazarus employs a technical swing trading strategy. Mr. Lazarus has been in the equity trading business for 11 years. After three years at Freelance Equity Trading, LLC, he took a managing director position at Sperling Enterprises, LLC. At Sperling Enterprises, Mr. Lazarus, along with Scott Redler, managed the firm’s traders and developed its training program. His core competency lies in understanding the difficult psychological aspect of trading, and his ability to mentor other traders. Mr. Lazarus became a partner in Sperling Enterprises in 2006 and stepped into the role of Chief Operating Officer for the company. In 2007, he helped facilitate the merger between Nexis Capital and Sperling Enterprises. Mr. Lazarus now manages all training content at T3 Live. T3LIVE.com is an online financial media network and education platform that provides active traders and investors with market analysis, real-time access to strategies, and in-depth training from real traders, real-time.

*DISCLOSURE: Evan Lazarus is short SLV, GMCR

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