2:57 PM Don't worry too much about the Department of Justice joining a probe of U.S.-listed Chinese Internet firms, S&P Scott Kessler says in raising his rating on Baidu (BIDU -2.1%) to Strong Buy. Keep your eyes on the prize: China's 500M-plus users, he says, and Baidu is well positioned given its big search market share and emerging digital offerings.
9:56 AM Chinese Internet stocks continue to plummet following yesterday's reports of DOJ, SEC, and FBI investigations into alleged accounting fraud. BIDU -6.2%. SINA -5.1%. SOHU -6.3%. SNDA -3.7%. YOKU -4.4%. TUDO -8%. RENN -7.5%. MOBI -5.3%. (also)
This market gaped down and this made a run to the upside, however, this was short lived and proceed to move back down, with Chop-fest in mind. As, you can see this company is in the news and is in the process of been investigated. This morning the underlying stock gap down, then made a turnaround. The BIDU 100 SEP C and BIDU 105 C were on the order list.
Also, a shout out @Sangluccitrades Chat room, make a killing this thing.
2nd Play
Late Afternoon the BIDU 105 SEP P were on the order list. Until the late session around 2:30PM ET; this is when the Bond Market closed. And 3rd Qtr end on a down note.
