BABA the leader

9-1-2018Baba-life

 

To which direction?  170 is a massive and important line.  I held shorts in $BABA north of 200, covered under 180.  Played the usual bounce through $TCHEY, $MOMO.  Very important 10 point channel here between 170-180.  There could be a rebound, but getting to 200 would mean some serious news or new money, which is hard to grab here.  Short here or above 180, or any other related Chinese stocks with a stop at 190.

BABA has been riding the AMZN wave, so it’s more properly priced around 140.

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