BHP

The most important article I have read yet is BHP earnings. They are siting a slowing of demand in China for raw materials.

The asian markets still show bearish overtones with rallying early in the day with selling in the afternoon. Looking really close at BIDU today and feel this thing is way overppriced. Will intiate a short position if we have a false upside break out.

Hindsight is always 20/20 and buying BIDU puts before earnings was a mistake. One of the things that i did correctly was allocate a small portion of the portfolio so this trade didn't wipe me out. Three years ago i would have bought a huge amount and been out on the street today.