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We have been negative on BIDU since the $315 - $320 area at Supertradetimer.com. Our short, medium and long-term signals are negative. With Google near the $500 support level again, we expect BIDU to test the $300 soon, with $280 being the next major test level.

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We have been negative on BIDU since the $315 - $320 area at Supertradetimer.com. Our short, medium and long-term signals are negative. With Google near the $500 support level again, we expect BIDU to test the $300 soon, with $280 being the next major test level.

We'll have more tonight in our evening newsletter!

Try our free 2 week trial on now,

STT

1. Consistent addition of new customers as advertisers con

Having abandoned its previous practice of accepting paid search listings from unlicensed medical firms, Baidu (BIDU) now faces a new danger: a wave of litigation over its old habits.

In a research note today, Credit Suisse analyst Wallace Cheung laid out a number of legal risks for the China-based Internet search company:

• Potential violation of advertising laws.
• Potential anti-trust lawsuits from some businesses in China who consider the company’s business practices illegal. The Financial Times has a story today that says as many as 100 companies are preparing a mass lawsuit against the compa

Baidu (BIDU) CEO Robin Li has vowed to overhaul the company’s operations following a report from China Central Television on the company’s inclusion of paid listings from unlicensed medical products companies in its search results for some popular health-related keywords.

According to Reuters, Baidu told the official Xinhua news agency that the firm has removed the key words of all four client companies mentioned in the CCTV report, and has begun to double-check the licenses of other hospitals and pharmacies on its client list.

Li also said that the company has already fired employees who fab

• China announced its biggest interest rate cut in 11 years on Wednesday to spur private borrowing and support a multibillion-dollar stimulus package to boost slowing economic growth.
• The 1.08 percentage-point rate cut -- the fourth cut in three months -- reflects the government's urgency about raising private consumption and investment to supplement state spending on the stimulus package.

For you technical traders out there, you know the "fill the gap" theory. I just went back on Baidu.com (BIDU) to see how long it has been since it was this low - it was April 2007. Ironically there was a gap in the chart created at the time, in the $110s, that I assume people thought would never be filled. Well, it has.

This was a $425 stock at the beginning of the year, and $375 as late as May 2008. Heck it was $195 four days ago. Whodda thunk that gap would get filled?