Drift North

• Posted by Adam Warner
• on March 9th, 2010

If you charted Vampire Weekend, I think it would look like BIDU. Especially on the PnF, not sure I’ve seen quite that many X’x in a row.

But hey, I think both met their price objectives. Shorting some BIDU call spreads, not sure how to play the other other than not hunting them down from SNL.

And that VIX? Unless we get a market dip, it looks like that streak of positive closes will end at 1. And you can make a strong case that the 1 lift yesterday was merely the standard Monday statistical quirk. VXX closed lower. Of course it’s never news to see VXX down. Unless things change, today will mark the 19th decline in the last 20 trading sessions. That’s actually an entire expiration cycle, plus 1 day for good luck.

Apparently they can reverse split VXX 1:4 in order to get it back near 100. Why they’d want to do that I don’t know, but so far, not going to happen.

Anyway, if you made it this far, here’s BIDU in PnF form.

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