I'm putting on a long play with SINA looks like a good oppurtunity.
1% of capital allocated to this my stop is 41.41 my limit is $46 for take profit.
Entry price was 42.77.
Max loss will be $1.36 max gain will be $3.23
Holding time will be 2 weeks.
Bearish on $BABA:
I believe the recent equity rally is long in the tooth and were bound to see a selloff, possibly to new lows on the S&P.
If you're bearish equities like me, BABA looks like a good short here.
Looking to see a confirmation close down to indicate a reversal of direction.
Shares of Sina Corp ($SINA) are holding green today after President Trump announced a new round of tariffs on Chinese goods and the Chinese responded with tariffs of their own. Most would expect Chinese companies to drop sharply, but Sina Corp is not. This tells us that the stock is seeing little impact from the latest round of tariffs or the negativity of the...