Its true bone heads. The Chinese government has capped online platform payments. This is the "death nell" for Alibaba since the company is now severely restricted in how much business it can do over its mobile platform. Maxbeck and Upandowntoday (same person) are Compete Airheads. Might also be Baba shareholders taking a bath now.
and hello high $20's end of next week. Never hold a company stock, where the company is losing money hand over fist in a approaching Bear Market. Its like playing Russian Roulette with bullets in all chambers. You lose every time you pull the trigger just as you lose buying in and holding Feye for the next Big Drop.
Bond investing guru Bill Gross of Janus Capital Group Inc said in a tweet on Wednesday that the U.S. Federal Reserve will hike rates in September as financial market conditions take precedence over economic conditions. Spy headed for double digits and might not stop until it hits $99 a share
suggest longs sell there losing Spy position and go long Uvxy - Tvix for an easy double by end of month if not sooner. Gross not what he used to be but he still can make a call (rate hike in 4 weeks) and set the market on a major sell off.
Only thing Fed can do (45% chance) is push off rate hike until December. Even if that happens markets will sell off know the Fed is one (playing games) and two (out of bullets). China's cratering economy is the "elephant" in the room and its looks more and more like the elephant might roll over and play dead. Of course Chinese govt. will pull out all the stops but I think it too late. Fear and Panic selling are now locked in and volatility will spike going forward. Uvxy over $30 a share by Thursday (if not more).
R/S has no factor in direction of Uwti and in fact might push it higher as more investors want to buy in before R/S to get a "cheap" position. Also we could see a "Big" mover higher in Oil Monday due to a unusually high level of activity in September options contracts. Don't know if Uwti hits $1.30 Monday but it will certainly climb over $1.20.
Because it irrelevant due to the fact that the stock IPO price was $68. Insiders and those who bought prior to IPO price will hold going forward since they know Baba stock will be back over $120 a share within a few months. Big boys will hold their shares for a nice profit come a year from now. And most won't sell then since Baba could some days follow Amazon stock into higher digits.
and I do believe got in Cheap.
Analysts remained overwhelmingly bullish on the company long term, with Wells Fargo reiterating an outperform rating and pointing to Alibaba's improving mobile monetization rates and 31% year-over-year improvement in active buyers. Cantor reiterated a buy rating and said it maintains a positive view on the company on a long-term basis based on its strong position within China's fast-growing e-commerce industry. Pacific Crest reiterated an outperform rating and said it views Alibaba's omni-channel, cloud computing and mobile take-rate progress as positives for the company.
Since the worst is behind Alibaba after today as revenue and profits increase going forward. Stock buy back, New CEO for International business growth and stabilizing China market all point to a higher stock share price going forward. How high - I don't know but I can tell you at $73.50 a POP - she is Dirt Cheap.
Stock is still pegged $80 to $110 range by various analysts so buying here and hold seems like a "No Brainer". Tomorrow we mover over $76 and climb.
Volume was off the charts today but I do believe most of the volume this afternoon were "buyers" flocking in to get Baba on the "cheap". If we hit $76 plus tomorrow look out - because we will know the floor was in (today) and the stock most likely will head back to upper $80's before September stock lock up expiration.
the Bigger you are the faster you fall. (SPLAT)
The China Automobile Dealers Association last week warned that nationwide sales could drop for the first time in more than 17 years, if the country’s stock-market rout continues. The slump in equities hurts buyer sentiment, Luo Lei, deputy secretary-general of the industry trade group, said Friday. On the ground, car dealers like Tao Jinlong are feeling the slowdown and have to work harder than ever to make a sale.
and that the good news since we get (bad0 news this coming week that the Fed can't wait to raise rates in six weeks. Seems the Fed is now forced to raise rates as the rest of the world economies meltdown.s