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Quick Pick: Buy Baidu

By Dan Fitzpatrick

 About this article:
 Last week I chatted with James Altucher about Baidu in a short video at the TSC offices in Manhattan. I was pretty bullish on the company. While that hasn't changed, I also differentiate between the underlying company and the proxy for owning that company -- the stock. I know several of you are involved in BIDU (hopefully long). But here is my current technical take on the stock. The July-August channel spanned approximately $50. The ensuing breakout from that channel occurred at approximately $220. (All of this stuff is an approximation. Despite what some of the tea leaf readers will tell you, technical analysis is an inexact science because it is based on the actions of a huge mass of people -- some of whom are psychotic.) Here's how we measure the MINIMUM estimate that this current advance should go. We add $50 to the breakout level....

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