mazdaki

BABA short term short and a long term buy.

NYSE:BABA   Alibaba Group Holdings Ltd
63 0 0
Nice run up but as noted previously it will be under pressure at this level. The weak holders of the stock that purchased around a $100/share will have a chance to sell to break even and the buyers in the 80's and low 90's get a chance to take some short term profit. my guess is that it will settle around the $92 mark. If the earning are good which I think it will, it will take off like a rocket to new high on a cup and handle formation.

So, I will be short with a stop at 105 (at +3 Stdev) and a buyer at 92 (the average uptrend).
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