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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (46966)	12/17/2021 1:57:11 PM
From: Sun Tzu	1 Recommendation Recommended By ajtj99 Read Replies (1) \| Respond to of 96694

I initiated my long position in late November (around 21/22) while the daily chart still looked ugly. My reasoning was that it was at historic low valuations (yes, I actually do pay attention to the fundamentals <g>) and if you looked at the weekly chart, it often should bounce off long term MA at such levels (so the technicals also aligned). I posted to you a few days later when the stock bounced but the MA was still pointing downwards. And my point was that the chart will begin to make this decision look obvious, should the stock keep going up or maintain its position. It didn't happen exactly that way because it retested a higher low and then bounced up. But that is not unusual. The bigger context for this was our discussion about BABA. As I said then, and I still maintain, BABA and most Chinese stocks are not worth the risk yet. However, should it hit 5 year lows and then show upward pointing MA, then they may be worthy of the risks. Upward pointing MA is not just about price action. It is also about allowing time to pass to confirm your thinking.