Chinese stocks got slammed today! DIDI stock plunged nearly 20% to 12.49. Actually it wasn't as bad as I thought, but BABA and Tencent got hit hard as well. Maybe American investors are finally wising up? Or maybe they are chickening out. The Chinese gains and growth are tempting, but one must always be cautious of big brother.
WeBull is giving away 4 FREE STOCKS if you sign up and deposit your first $100. That could be a 40% ROI on your money and it is totally free to do so. I highly recommend WeBull as a broker as they have all you need for basic technical analysis, news feed, analysts, price targets, financials, etc. Check them out by using my link to help support all of my free content that I put out daily.
Current Weekly Positions
$NAIL -3.3% (Ongoing)
$TRT +3.8% (Ongoing)
Only one alert went off today and it was for TRT. I ended up just buying commons on it while options are not available for TRT on Webull or Robinhood.
TRT perfectly bounced on the support I had drawn out on Trend Spider and since that key point, ran up about 4%. I'll keep my stock for a few days and see if it can bite into the volume shelf and the red cloud between the 20/50MAs. There is no decay for me now, so I'll cut if the position falls back to break even. I don't have anything to lose here.
The Nasdaq and tech did pretty well and finished up a few points.
TSLA, one of the tech companies that dropped a significant amount, is under pressure, most likely from the growling concerns of Chinese regulators. In China now, there are no recent updates on Tesla, and on the contrary Tesla's sales have been great this year even though there is a lot of negative news coming out of the Middle Kingdom.
Hundreds of cars crash and produce fatalities daily and don't make the news, but when a Tesla crashes for some reason it is front page news globally.
I am a bull on Tesla, and I think this is a decent opportunity to play the volatility and pick up some calls. Of course, I'd go small here, but once it gets closer to the VWAP (volume weighted moving average) I'm a buyer.
It is hard to find new short term plays when everything is at near ATH's and there aren't any apparent bargains (I always buy at supports/resistance). I firmly believe the less you do is the better and less chance for mistakes. I'll keep looking for deals and if anyone wants me to perform TA on a ticker, please DM me on Twitter.
No matter if you are a beginner or an advanced options trader, I have a webinar for you.
This Sunday we are starting a beginner course on Options and Investing and next month an advance one on Fundamental analysis. Email me if you are interested in taking part.
Disclaimer: The comments opinions and analysis expressed herein are for informational and educational purpose only and should not be considered as individual advice or recommendations. Prostockadvice.com is not responsible or liable in any way for opinions expressed here. This is not meant to be financial advice as we are not a licensed financial advisor.