Monday, May 4, 2015 4:23 PM EDT
BABA is one of my 73 short positions right now. I just wanted to offer an important and gentle reminder to everyone, since the bottom of a chart can often trick you into thinking that there is some kind of wall there – – an important bottom. Because, in your mind, that’s the low end of possibilities. That’s the bottom of the chart. That’s as low as it can go. Intellectually, you know this isn’t the case, but your mind can still make you think that the stock is “cheap” here:
But remember firm support can only be relied upon at a much lower level. And I’m honored to have billionaire Jack Ma here on Slope to cite precisely what the absolute firm level of support is for any stock on which you can rely. Thank you, Mr. Ma!
This blog is not, and have never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural ...
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This blog is not, and have never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural observations or other odds and ends strike me as worth writing about. So I take absolutely no responsibility for the losses – or any credit for the gains – you may or may not make from reading this forum. Whether you lose your life savings or make a fortune is entirely up to you and your own skills/luck/fate.
Please note I am the principal of Tim Knight Organization, LLC, a California-registered investment adviser. The content of the postings and investment strategies and discussions provided herein do not necessarily reflect the views, opinions or policies of Tim Knight Organization, LLC and Tim Knight Organization, LLC makes no warranties regarding the accuracy of their content or their completeness.
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