BABA is seeing some wrath of the CCP. It's a clear COVID winner like
AMZN, but since the failed IPO of Ants Financial from Jack Ma's less-than-flattering speech on the eve of the biggest IPO ever, CCP pulled the plug on the parade.Last night, there was a crash of
BABA's price in HK market, then the US market followed. My plans are to wait for the price to come down to test today's low ($211.50) perhaps a few times before starting to go into the gap as we get closer to the earnings.
Maybe the sentiment may change in China after the Lunar New Year...?
#tradeidea
- wait for the price to test the lows
- sell credit put spreads
- When in the gap, buy calls if the sentiment in China has changed.
#MAMBA MENTALITY
We don't quit. We don't cower. We don't run.
We endure and conquer.
- RIP Kobe Bryant
We don't quit. We don't cower. We don't run.
We endure and conquer.
- RIP Kobe Bryant
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
#MAMBA MENTALITY
We don't quit. We don't cower. We don't run.
We endure and conquer.
- RIP Kobe Bryant
We don't quit. We don't cower. We don't run.
We endure and conquer.
- RIP Kobe Bryant
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.