GE, Baidu.com Breaking Out

12:30pm (EST)

General Electric (GE, $16.68, up $0.68) is rolling this week. The stock opened Mondayat $14.55 and closed yesterday at $16. Today’s 4% pop is shows the stock’s momentum after passing hitting the $16 level and shares look poised to run to $17 where there is resistance. Volume is thru the roof as 113 million shares have traded thus far.

Lottery players are all over the GE September 16 calls (GEWIQ, $0.75, up $0.49) as they are up nearly 200% for the day. They opened at 40 cents. We went to Apple’s (AAPL, $182.26, up $7.10) October party instead and the option trade I profiled at 11am is up 50% folks! If you got in at 85 cents, lock down some profits as the call options are now at $1.50!

Yes,

Baidu.com (BIDU, $402.80, up $5.27) continues to set new 52-week highs. The stock has made an $80 move since the beginning of the month. Goldman Sachs (GS, $178.33, up $1.67) is the latest cheerleader after making some chippy comments on the company this week and setting a price target of $455. Baidu’s CEO has been quoted as saying he sees users leaving Yahoo Japan to come to Baidu over the next few years.

That’s it for now…Freeport McMoRan (FCX, $72.77, up $1.43) and Imax (IMAX, $10.10, up $0.28) are also putting in good days for us. I may try and do an 11pm update tonight but I’ve got a ton of research I’m doing. If not, I’ll see everyone in the morning by 9am (EST).

Rick@MomentumOptionsTrading.com

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GE, Baidu.com Breaking Out

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