PPR - Follow-up on BIDU into Earnings
We would not advise being heavily in BIDU going into earnings unless one has a significant profit cushion. The recent pocket pivot buy point on Monday has shown little follow-through mostly due to yesterday's market reversal. Also, BIDU can gap up or down 10% on earnings hence we consider holding BIDU into earnings as simply a spin of the roulette wheel. With tech-stocks getting hurt the last couple of weeks, and general weakness in the group, we would consider the risk of holding a large position in BIDU very carefully. For the record, we have no position in BIDU currently.
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