$Alibaba(BABA)$ Every year sin

$Alibaba(BABA)$ Every year since 2022 BABA has experienced at least one dead cat bounce from Jan to July. None of those bounces have stuck. A return to a $60/$70 bottom continues right afterward. I have not seen any proof that this time will be different. Longs are eternally hopeful. Swing traders continue to watch for a return to the bottom & new shorts establish positions. History does repeat, often without change.

I have been successfully swing trading BABA & wait for a return to the bottom. I also hold a long $98 long position established more than a year ago. If BABA continues to climb I may escape by breaking even or maybe with a small gain. Any losses at this level will be more than covered by my short term gains.

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Comments

LenaAnne
05-08
LenaAnne
You hope to break even or make a small gain if BABA continues to climb.

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