Another long drought in posts, apologies for that. Vacation + work is keeping me busy.
We had quite the flush on the markets this week which gave some great opportunities to buy into oversold names. More on that in a bit…
I’ve been eyeing $DJSH for awhile now - dow jones shanghai index. this past week it finally hit the 2016 low line (went slightly lower, briefly). i count 5 waves down so it fulfilled what i was thinking. perhaps the china bear is nearing an end? time will tell… perhaps a trade deal will get it going upward again, but consider this - china has over 6% GDP growth. Yes they slowed from 6.4 to 6.2 (i believe), but thats still almost double the US growth. China isn’t going anywhere, it’s one of the biggest economies in the world (if not the biggest). Baba probably will be $1000 in 10 years.
Anyway, charts below, and yes - i bought baba this week!