I have a small long position I started a year ago at $98. That is my BABA lottery ticket. Maybe someday it will break even or maybe produce a gain.
Recently I have started swing trading at the current bottom. I buy at $71.50 (or lower) & sell at $77 (even if it floats higher). Since Dec 2023 this has produced a short term gain of $5.50 4 times in 3 months. $22 total gains so far. This bottom has proven very solid. I am waiting as it slowly drops for my next buy at $71.50 or lower. I am sure there are others finding ways to turn a profit from this "dead" stock.
As we all know the future can be quite unpredictable but history does tend to repeat itself. I love a predictable pattern in a solid bottom. ;>) Caveat emptor & good hunting all. :>)
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- pixelo·03-26Wah, that's some smart trading you got there!LikeReport