BAIDU insider sucks (for 06-02-22)

It was Feb 22, 06 (Wednesday). I was a little upset about IB sold my 100 share out of 200 of BIDU after hour in the previous trading day(06-02-22).

At the opening, I still have 100 shares. BIDU was jumping to 62 pre-market. I was so excited to harvest another $800-1000 gain.

It dropped to 58-59. I didn't care much. I thought it would bounce back. Unfortrnately BIDU slide without any strong support which puzzled me. For this shining ER, it slides like skating in winter. Only one answer: insiders had absorbed the news way before ER release date. What a suck BIDU insiders! This is China, isn't it? Anytime playing with CHINA related stocks, you are betting with large number of greedy insiders.

Due to its good ER, I still believe it would bounce back. So I took average down strategy to lower the cost. The ending cost of 1500 BIDU was 56.14.

What a bad day losing to CHINA insiders!!!