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Baidu jumps $14.64 to new high

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runShares of Baidu.com jumped $14.66 on Monday to $336.24 amid heavy volume, the fourth best advance in 2009 so far. But if history can be a guide in future performance, be careful on Tuesday because BIDU gives back -$0.18 the next trading day, on average.

We collected the 10 best market days for the Chinese search engine giant where today's $14.64 gain is among top five daily advances. According to the following table, shares of BIDU fall the next day $-0.18, on average. Looking at the top five trading days, chances are high that BIDU will take a break on Tuesday.

 

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Besides Baidu.com, China Life Insurance (LFC), HSBC Plc.(HBC) and NetEase Inc (NTES) are the most overbought Chinese stocks at the moment and thus are subject to short term price correction.

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