Fun Fact #50
Xiaomi, a popular Chinese phone company, recently filed for an IPO (they haven’t gone public yet). Xiaomi made a loss of 43.9 billion yuan in 2017, but will still be valued at 100 billion. Read more about Xiaomi’s IPO filing here.
I’ve updated my targets for June 1st, 2018. As you can see, I’m still bullish since we didn’t close down today. If stocks were to fall, I think they will go down a lot. From my “If Wrong” targets, you can see that I would not be a buyer of any of the above stocks (other than WB) due to the relatively low potential upside and large potential downside. In sum, I am not buying any of the FAANG stocks unless they drop a bit lower, like 5% for example.
I still like WB at current price levels because the stock is in an uptrend and offers a low risk, high reward trade.
The SPY didn’t close down today, so I am still bullish. The other indexes also went up quite a bit. Although I am not buying or adding long positions at these levels, I will continue holding.
Nvidia (NVDA) is getting to a price level where it might bounce upwards and hit a new all time high. Although I’m tempted to buy right now, the current price doesn’t offer a good risk to reward. Thus, I’m waiting patiently for the price to drop to the 220-230 zone before buying. I don’t think NVDA will drop that far, but if it does, I’ll be buying with both hands. 🙂
