Oh boy!!! you're incorrigible! calling bottoms :) I hope you're right this time richie, I bought pre- market and averaged down 2.5X on my existing position, we shall see, there will be a bounce but I believe we're in long term bear trend now for the market , hopefully not for BABA anymore ...
People who say that it's fake and going much lower are plain ignorants and speculators who have no market insight or experience. I just felt compelled to let you know that promoting a stock so aggressively does not bode well, I believe in this company much more than you do but I don't promote it because it is not my role. I just get perplexed because I know you mean well and you're trying to explain things like they are but people are sheep, they just don't understand, all I am trying to tell you is whether you promote the stock or not , if it is meant to rally or decrease in value it will happen , whether your on the side of the trade or not, nobody cares about richie and betterpeace, just save yourself some aggravation and have a glass of wine. All my best to you :)
Richie, please STOP man, really stop, you're in the red so as we, I've told you since May , stop pumping, the market was set for a major sell off, not related to BABA, you didn't listen, I've been in the markets for 25 years , i worked for the biggest firms on wall street and been an MD on many desks.
You are ridiculing yourself and nobody respects you here, all you do is talk how markets are rigged, and it's the bottom, it's been a pattern since April with you.
I am respectfully asking you to stop posting ridiculous posts because not you or anyone knows where BABA's bottom is, is it cheap here ? indeed it is , was it cheap at $90? of course not, but you know what? it could get cheaper, you have not lived or experienced black holes, trust me, stop your b.s and leave yourself some humility.
All my best to you and to those who listened to you.
Totally agreed thus Chinese valuations had to come down but in perspective , valuations are coming to more adequate levels now although still pricey in certain market sectors, as for BABA since we are on BABA's board, it is a totally Chinese consumer driven company, the level where the stock is now given growth, prospect and the gigantic Chinese consumer market and the company being an Alpha in China, valuations for BABA right now are cheap and attractive.
AGAIN, it's not about BABA, it's about China and all the uncertainties and volatile market! Definitely a buy around these levels, no doubt about it!
of course, BABA in China is the darling company, just like Apple is the darling of the U.S, they proved to be an anchor of the chinese new economy but the ways China is manipulating it's economy affects the outcome " for the moment " of BABA and many other valuable companies. It is a stock to own and being long and losing money was a poor decision I made, I would like to average down but I honestly prefer to wait even if I had to average down at higher prices. One thing for sure and unlike many others here, I do not live in denial and pump and advertise a stock, I've been in the markets for way too many years to understand on very small scale the dynamics. It is indeed very challenging!
GMV my friend , GMV is dropping, people are spending less, that is the main number that is relevant to an e-commerce company!
definitely richard, it is a very central and manipulative government.
The U.S and especially the current administration have been through John Kerry asking China for years to do what China did the past couple of days, but China did it when it was convenient for China not when it was convenient to the U.S.
yes dino, it is a way of devaluing a currency but guess what? it just didn't work as expected, the QE's created a monster, it created a 54 trillion dollar worth of debt worldwide and counting, something has to give, China is one of the catalysts, Greece story is not over, the new and third bail out will not bode well.
All I am saying it is purely artificial and not based on economic fundamentals.
First, currency devaluation never took place in U.S history only artificially through QE's for a while and then big rally because of the safe heaven status the U.S represents worldwide and as a safe reserve currency.
Second: Currency Devaluations are designed to boost exports.
If you looked at the numbers yesterday China's exports have decreased significantly.
Thirdly: BABA is not yet a company that relies too much on foreign e-commerce, their bread and butter are local and mainly in China.
China now is going through a major transformation and reforms since the growth (their GDP) they've had was in double digits and now in the single digits for the past decade thus a very pronounced decrease in consumer spending that will affect (GMV) the volume of transactions on BABA, long term it is a growth company with lots of potential but where is the share bottom share price? it's a 10 million $ question... your guess is as good as mine!
LOL keck LOL (although i'm losing money ) ...first we'll be marching towards $100, the he downgraded the "marching" towards the $90's, now it's towards the 80's , next month he'll be marching towards the 70's ... OMG man, i just can't stop laughing at this idiot!!! too funny!!!!
sorry about that de.john67, at least you have the descency to come forward, we are all losing here and for now, long term it's a sure bet on the upside, nothing worse than a drawdown on your statement but quite frankly the Chinese situation was obvious for weeks now and will still be for a couple of quarters...
well said polo, richie must have his head down in the toilet by now with his "today close at $85 and tuesday above $90, in two weeks above $100, rally imminent, huge buy blocks as of now", all his lies and b.s... what an idiot! can't duplicate him!