BABA is currently in a downtrend, and it has a good while before price to sales reaches a more sane level, at least until it hits 77.65 or so. There's a 'Time at mode' downtrend signal that got triggered last Thursday, and we shorted on the pullback on Friday. I bought out of the money puts and bought a put spread to reduce costs on my bearish stance. Risk is 1% overall, and aiming for a nice return here. If you wish to join, you can either trade it with options, in a variety of ways, or simply short the shares using the reccomended stop loss for position size (you don't need to actually place the order).
@G13Man, Wouldn't surprise me to see a retest of the low end of the range.
G13Man
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@IvanLabrie, yes , kind of scary when you realize that this is a tracking vehicle for the stock , and not actually a right to own the stock !
G13Man
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its nice to see u mention the $ 77 level as there is a gap in that area
how ever i will wait to see if it breaks below the up trend line in this down trend
what i find very interesting tho
is the wedge terminates at this ipo price area !
hassanalikassam
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Ivan why is BABA climbing on the wake of Italy's referendum?
Kudos bro