I once had an employee of Greek Decent. She was just getting into investing around the time $BABA was trading at all time lows, around 70. I told her if there was one stock to invest in, it would be BABA right here, right now. She’s said, “What the hell is BABA? Sounds like my grandfather or something.” She explained to me that BABA means father in greek, and because of this she thought it was a good omen to invest.
We had a falling out over the years, and I’m not sure what happened to her, but I hope she still owns $BABA.
$BABA is trying to remount here, reclaiming the 50 day moving average, and aiming for fresh new highs. The ticker is on top of our runner screen this morning, and looks great for a swing. Under today’s low, and I think you have to be on guard for a sell-off, but this might be the start of the move to $200.Comments »