BABA: Good short setupBABA is currently in a downtrend, and it has a good while before price to sales reaches a more sane level, at least until it hits 77.65 or so. There's a 'Time at mode' downtrend signal that got triggered last Thursday, and we shorted on the pullback on Friday. I bought out of the money puts and bought a put spread to reduce costs on my bearish stance. Risk is 1% overall, and aiming for a nice return here.
If you wish to join, you can either trade it with options, in a variety of ways, or simply short the shares using the reccomended stop loss for position size (you don't need to actually place the order).
Good luck,
Ivan Labrie.
