JD.com Trading China's 618 eCommerce shopping day
Updated
15 June JD.com had risen along side all major technology stocks including the NDXT. The Dow Jones however had dropped and this lead me to believe that people were exiting other categories and entering into technology as a safe haven. This could also be because of the trade wars chatter between US & CN that has lead to people leaving categories that had a reliance on commodities.
I also found out that the 618 Festival that ends on the 18 June. This festival in 2017 lead to JD to achieving a record US17.6Billion in sales. A report of the 2018 sales results i'm sure would be released after the 18 June and this will drive JD's stock price up.
16 June saw the enter Technology index dropping and JD stock saw a huge drop within the first trading hour. I quickly entered as it was a better price that what I was looking at and I believe the drop was a market reaction and given that both the 15 June and 16 June were aligned with the market. I made the assumption that the potential 2018 618 result had no been factored in the existing price.
Let's see how next week goes! super excited
I also found out that the 618 Festival that ends on the 18 June. This festival in 2017 lead to JD to achieving a record US17.6Billion in sales. A report of the 2018 sales results i'm sure would be released after the 18 June and this will drive JD's stock price up.
16 June saw the enter Technology index dropping and JD stock saw a huge drop within the first trading hour. I quickly entered as it was a better price that what I was looking at and I believe the drop was a market reaction and given that both the 15 June and 16 June were aligned with the market. I made the assumption that the potential 2018 618 result had no been factored in the existing price.
Let's see how next week goes! super excited
Note
18 JuneGoogle is investing $550 million in JD.com, China’s second-largest online retailer.
The strategic partnership will see Google’s investment rewarded with 27 million newly-added class A ordinary shares in JD.com, a less than 1% stake in the company. Beyond the cash investment, the deal will include the promotion of JD goods on Google’s shopping service and a mutually beneficial combination of Google’s market reach and analytical capabilities with JD.com’s expertise in logistics and inventory management.
fortune.com/2018/06/18/google-jdcom-deal-investment-partnership/
Note
Even though JD hit a Record Sales at RMB 127.5 Billion for JD.com’s 618 Shopping Festival. Reactions to the stock price was lacking and not what I expected. I wonder if it was already priced in or was it's news overshadowed by the trade wars... Maybe a little bit of both I thinkTrade closed manually
I lost a bulk of my account from a moment of lapse of discipline. The agenda that I had based my initial analysis was not longer valid and I should have exited. Instead I was stubborn and let my emotions take over by removing my SL point and holding on to JD as I believed that their news releases would turn things around, but it did not. When I finally realised my mistake, it was a much bigger loss than my initial SL. At least I did not wipe myself out and I still can fight another day.
Trade closed: stop reached
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