From Schaeffers Trading Floor blog:
Baidu Inc. (BIDU), Trina Solar Limited (TSL), and Potash Corp. of Saskatchewan (POT) were among the stocks showing a bias toward put buying Monday.
The activity on Potash Corp just adds to what we saw yesterday and Friday. A look to the current chart shows the stock is still trying to breakout.
All it takes is a quick glance at the daily chart of Baidu Inc to see that the put buys could be considered counter-trend sentiment. The stock has staged a monster rally off its recent lows. The shares are currently showing a near-term pullback from an overbought condition but clearly buyers have been willing to aggressively chase the stock.
This chart of Trina Solar shows the equity recently found a base near 6, pushed through resistance near 10, and then overtook resistance near 15. The shares are up more than 90% in the last 13 weeks yet option buyers on the International Securities Exchange showed little in the way of optimism yesterday....MORE
