Short this sub $100.
Current fundamental issues that impact share price of BABA ADR:
Trade War
Intellectual Property Rights
"Spy Chips"
Declining China Growth
Overall Market Weakness in Tech
List goes on...
$POLY/BTC is worth a look at these levels, considering Coinbase's recent move into supporting security tokens sometime in the future. ERC20 tokens working compliantly and dilligently, such as $POLY will be able to brush off short-term risk of ERC20 tokens being classified as "securities" by the SEC.
Seems like we will continue to the downside prior to earnings, then a quick jump before. I'm expecting stop losses to get cleared at $14. Unless we get a clean $15 break over the next few trading days, expect this to drop.
