Chinese Internet stocks have mostly corrected since the beginning of the year, but the big dog Baidu is up nicely for 2014. After a sharp 15% correction in April, the stock moved higher. Its chart now showed a beautiful cup/handle pattern on June 24, and the next day the stock really blasted higher on better volume. Given the fact we have earnings season on the horizon, this stock is poised to hit new highs; I think $200 is next. On top of that, the MACD just produced a massive buy signal, and turnover is brisk. We added the call Monday, and it is now up 50% in just one day.
