Jack Ma is 2 out of 2 in nailing the exact top of the market. Maybe once BABA plunges again, he will repeat his past success by, once more, buying up all the stock cheaply and taking it public for a third time in about a decade.
What a terrific day! And, on days like this, when I suspect readers of my blog are making money left and right, I whip out the beggar’s bowl and ask you to show your appreciation for my hard work (Slope Plus folks have already done so, of course, by way of their subscription – – and you can join them, remember, with coupon code trickortreat and get a free month to try the service).
In any case, if you’d like to make a donation to the blog, now is your golden opportunity. This is pretty much my full-time job (for better or worse), and I’ll just push aside your local NPR station for a moment and tug on the same guilty strings that they do. Congratulations to Slopers for a great day, and I look forward to an awesome month of October. If you use Paypal, you can donate by clicking here. If you don’t have Paypal but still have the urge to donate – – donate $0 by trying out Slope Plus for a month!
I mentioned the social media ETF (symbol SOCL) being a good short based on its Fibonacci retracement. Yep. See, this chart stuff actually does work from time to time.
I keep a small options account for more speculative, devil-may-care trades. Someone asked me for an update on those positions. I’m going to be lazy (and a bit too T.M.I.) by just showing you my current P/L screen. I’ve only got one dud – Hershey – but I still think it’s going to work out just fine. These are all conservative plays (e.g. several months out, and all in the money).
Here’s a fun little video I put together about Apple’s history as a public company; be sure to subscribe to my YouTube channel to get automatic notifications when I create items like this, which I plan to do regularly.