$BABA interesting entry on my Mahjong night!A few days after talking about wanting to grab some NYSE:BABA shares, I was chilling on a regular Friday night, playing Mahjong with my pals like we do every week. But this time, I was keeping an eye on NYSE:BABA as the week was coming to an end.
Around 11 pm Singapore time, I vaguely remembered NYSE:BABA taking a dip, maybe around -2%, hitting $66-$67 per share (if my memory is right). First thing that popped into my head was, "Okay, China's not doing great, looks like another bad week."
We played a few more rounds of Mahjong, and when I checked NYSE:BABA again, surprisingly, it had bounced back to $69 per share. That's a 1-2% climb from being down 2%, and it seemed like it might finish the week with a little bullish pin bar thing at the important weekly support levels.
Feeling a bit of FOMO, I jumped in at $68.5, bringing my average price for NYSE:BABA to $70 now. Then, I heard about China thinking about moving 2 trillion yuan ($278 billion), and that got me even more optimistic. I thought, "Finally, China's government is doing something real to help out the stock market."
Thinking of adding more NYSE:BABA as it goes up slowly, keeping an eye on the chart. Sure, there's a risk that the downside isn't totally over, but there are signs that the worst part might be done, and we're in for a big bounce or reversal from here.
For once, I'm feeling positive about China. Not financial advice.
