Ba-Ba-Bottom

BABA is one of my 73 short positions right now. I just wanted to offer an important and gentle reminder to everyone, since the bottom of a chart can often trick you into thinking that there is some kind of wall there – – an important bottom. Because, in your mind, that’s the low end of possibilities. That’s the bottom of the chart. That’s as low as it can go. Intellectually, you know this isn’t the case, but your mind can still make you think that the stock is “cheap” here:

But remember firm support can only be relied upon at a much lower level. And I’m honored to have billionaire Jack Ma here on Slope to cite precisely what the absolute firm level of support is for any stock on which you can rely. Thank you, Mr. Ma!

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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