Baidu, Inc. (BIDU) and Potash Corp. of Saskatchewan (POT) are among the stocks showing a bias toward put buying today.
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
