Pilobolus Equity Research: Re-iterate Buy: BIDU (257.17) Upward momentum warrants test of 1st Fib ratio 23.60% (270.02)

Friday, February 29, 2008

Re-iterate Buy: BIDU (257.17) Upward momentum warrants test of 1st Fib ratio 23.60% (270.02)

Rationale: After a strong test of support (227), BIDU looks ready to test its upward 1st Fib ratio of (270.02), then a push to the Feb 14th high (280.44). Momentum (MACD) has been rising since the Jan 17th low and has reflected a strong divergence buy setup. Expect a push to 270 promptly. Failure would prompt downward support in 250 range, then 245.

Target: 270.02

Stop: 247

About Pilobolus Research

Seth F. Wolff
A ten year institutional market strategist formerly with IdeaGlobal & Charles Schwab (Cybertrader Corp) advising institutional clients in the equity,commodity and fixed income area, with prior roles in institutional research sales in North America. Seth has also appeared in media coverage including Dow Jones and Bloomberg. A graduate of the University of Arizona with a B.S. in Finance and continuing studies at NYU Graduate Business School, Seth has also been a member of the Market Technicians Association (MTA) since 1990.

Disclaimer: Pilobolus Equity Research obtains information from sources deemed to be reliable; however, Pilobolus Equity Research does not guarantee the accuracy of any of the information or commentary provided. Pilobolus Equity Research makes no warranties, expressed or implied, as to the fitness of the information for any purpose, or to results obtained by individuals using the information. In no event shall Pilobolus Equity Research be liable for direct, indirect, or incidental damages resulting from the use of the information. Pilobolus Equity Research shall be indemnified and held harmless from any actions, claims, proceedings, or liabilities with respect to the information and its use.

Pilobolus Equity Research

Friday, February 29, 2008

Re-iterate Buy: BIDU (257.17) Upward momentum warrants test of 1st Fib ratio 23.60% (270.02)

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