This is the day that I started to say short BABA at highs, Oct 28th
Even today, after Chinese tech names rebounded from the lows, still worse than what I expected. I hope its clear enough on my chart.
Just simple research, you will see a lot of analysis saying that "BABA is The Time For Bottom Fishing" or "Alibaba Stock Could Potentially Double In 2023". I never doubt for BABA's efficiency or its fundamental. Something that makes me truly worried about is China's political environment. Even China change its zero-COVID policy, does that will make company like BABA better off in China? I am still question that.
As old says, the market doesn't care who you are, how smart you are, what degrees you are, how much money you have, how highly you are placed socially. The market will do whatever it "wants" to do, rewarding lavishly those who surrender to it, yield to it, and follow it, and punishing severely those who argue with it, fight it, and go against it. There are still a lot of analysts saying to "bottom fishing" BABA, if this is real Bottom for BABA, or risk free area, I will put every single penny in my pocket into this trade. Will they do as what I said? Possibly No.
Therefore, nothing needs be worried about here, I will keep SHORT the highs.
Even today, after Chinese tech names rebounded from the lows, still worse than what I expected. I hope its clear enough on my chart.
Just simple research, you will see a lot of analysis saying that "BABA is The Time For Bottom Fishing" or "Alibaba Stock Could Potentially Double In 2023". I never doubt for BABA's efficiency or its fundamental. Something that makes me truly worried about is China's political environment. Even China change its zero-COVID policy, does that will make company like BABA better off in China? I am still question that.
As old says, the market doesn't care who you are, how smart you are, what degrees you are, how much money you have, how highly you are placed socially. The market will do whatever it "wants" to do, rewarding lavishly those who surrender to it, yield to it, and follow it, and punishing severely those who argue with it, fight it, and go against it. There are still a lot of analysts saying to "bottom fishing" BABA, if this is real Bottom for BABA, or risk free area, I will put every single penny in my pocket into this trade. Will they do as what I said? Possibly No.
Therefore, nothing needs be worried about here, I will keep SHORT the highs.