BBL: -0.20 to $80.50 (-0.25%)–bought at $79.369
BIDU: -1.68 to $96.53 (-1.71%)–bought at $99.00 today
INTC: 0.01 to $21.03 (0.05%)–bought at $18.52
JUBAX: NA to $10.86 (NA%)–bought at $10.17
NEWN: 0.01 to $7.73 (0.13%)–bought at $7.25

OVERALL: -0.16%

Since I don’t really expect much out of the markets today, and since I have a lot to do today, I am going to leave you folks with an open thread. If anything interesting happens, I’ll be online later to comment. Otherwise, feel free to leave any questions here, or comment on anything you like.

As usual, I will do my daily summary later today, but I don’t expect much movement.

It was a good day to spend the afternoon shopping with the wife and kids, because the markets were nothing to watch today. Although my portfolio did ok:

BBL: -0.21 to $80.70 (-0.26%)–bought at $79.369
BIDU: -0.79 to $98.21 (-0.80%)–bought at $99.00 today
INTC: 0.08 to $21.02 (0.38%)–bought at $18.52
JUBAX: NA to $10.84 (NA%)–bought at $10.17
NEWN: 0.17 to $7.72 (2.25%)–bought at $7.25

OVERALL: +0.20%

Name the one stock in the world that could grow earnings by double digit percentages even if it did absolutely nothing over the next 5 years? If you named the Chinese search engine company Baidu Inc. (BIDU), give yourself a gold star.

With over 70% market share in China (and that is with only a third of the Chinese population being online, about 450 million people), and advertising rates about a quarter of what Google charges, Baidu has better growth potential than even the 800 pound growth gorilla known as Apple. Don’t believe me? Baidu is projected to grow earnings by 56% over the next 5 years, whereas Apple is only projected for nearly 19%.

Even Jim Jubak likes the stock, and it’s cheaper than when he recommended it (it closed yesterday at $99.11). He even has 0.6% of the Jubak Global Equity Fund (JUBAX) in it.

For those of you more technically-minded, Baidu is also nearly oversold, with an RSI of 37 and Stochastics around 30.

There is nothing I enjoy more than an oversold stock with idiot-proofed growth potential. I am setting my initial limit buy order at $99, although I would happily pay over $100 for it.

UPDATE: The order went through, and I got it for $99.

I have had to raise my limit buy price on Proshares Ultra Silver (AGQ) as the fundamentals keep rising with the price of silver. At the moment, I have it at $145. I still see it dipping within the next week, probably within the next few days.

I must admit, I am starting to get the feeling that the volume is so light this week that the markets will just continue to go up, although not much.

As for my portfolio, it’s all good, even if it isn’t much:
BBL: 1.20 to $80.91 (1.51%)–bought at $79.369
INTC: 0.06 to $20.94 (0.29%)–bought at $18.52
JUBAX: NA to $10.76 (NA%)–bought at $10.17
NEWN: 0.07 to $7.55 (0.94%)–bought at $7.25

OVERALL: +0.37%

“You can give men food and leisure and amusements and good conditions of work, and still they will remain unsatisfied. You can deny them all these things, and they will not complain so long as they feel that they have something to die for.“–Christopher Dawson

It is time to update The Official Ed’s Talking Stock Stock-picking Contest.

Here are our entries so far:

andy-AGQ
Artemus-STP
Trader-ERX
MikeA-TNA
Karl-CU
Gary-DNN
Brian-MCP
Frank DeTrana- LVS
Gondis-F
Marshgerda-SCEI
Ruters78-UWM
plastronneke-GWG.V

Here are the rules/guidelines (with one minor adjustment):
1. Everyone who wants to participate (including yours truly) will pick one stock before the market opens on January 3, 2011. Each stock pick will be “first-come, first-served”, so nobody can pick a stock that someone else picked. Stocks will be added in the comments. I will add my pick last to make this fair (yes, any of you can pick something already in my portfolio and I won’t be able to pick it). Only one stock allowed per person.
2. The goal will be to pick the best performing stock (including dividends) by the end of the contest on Friday, May 27, 2011.
3. I will put set up a portfolio with all of our stock picks on a neutral website (possibly CNNMoney.com, although I haven’t decided this yet).
4. The winner gets…bragging rights! In addition, I will praise them mercilessly.
5. I will re-post this every trading day whenever it falls off the front page of the site, up until December 31st. You are all welcome to add your picks in the comment section on any of these re-posts and have it count.

BBL: 0.80 to $79.71 (1.01%)–bought at $79.369
INTC: 0.04 to $20.88 (0.19%)–bought at $18.52
JUBAX: NA to $10.75 (NA%)–bought at $10.17
NEWN: 0.03 to $7.48 (0.40%)–bought at $7.25

OVERALL: +0.24%

Time to prepare my silver play for the new year. I have my limit buy order on Proshares Ultra Silver (AGQ) set at $142. Although it is over $150 at the moment, remember this is a double long ETF. There are two possibilities based on silver’s recent history: It could shoot up over the next few days, or it could dip a little. I am shooting for the downside.