Heavy Put Activity Seen on Potash (POT) and Baidu (BIDU)
05/12/2009 1:01 pm EST
The activity on Potash Corp. just adds to what we saw yesterday and Friday. A look to the current chart shows the stock is still trying to break out.
All it takes is a quick glance at the daily chart of Baidu, Inc. to see that the put buys could be considered counter-trend sentiment.
The stock has staged a monster rally off its recent lows. The shares are currently showing a near-term pullback from an overbought condition, but clearly, buyers have been willing to aggressively chase the stock.
By Nick Perry of Schaeffer’s Trading Floor Blog
Related Articles on STOCKS
We hold three biotech stocks in our growth portfolio — Biogen (BIIB), Bioverativ (BIVV), and R...
Under the guise of clamping down on “widespread corruption,” Prince Mohammed bin Salman ...
Leading value investor and money manager John Buckingham sees upside potential in two banking stocks...