Hi everyone!
Last week the markets dropped quite a bit off all-time highs, and now we are looking at a possible recovery (at least in the next few days). I think this is the next leg down, so selling your positions, or going short into the next pop up might be a good idea.
Also, I believe that MU is now nearing the end of it’s cyclical cycle, and will continue to drop further in the next 6-12 months.
BABA has also had some bad news, which has lead to it dropping below 160. This may be a good buying opportunity.
Here’s a chart of MU below.
Notice how price has moved below the 200 day moving average, and has stayed below that for a while. This looks extremely bearish to me, and hints at further downside.
BABA is at 156.1 as of this writing. Although I think this is a good price to add for the long term hold, the short term (2-4 weeks) points at more downside. I’m leaning towards buying some here for a long term hold. I will update you if I decide to buy some shares.
Bigfry's Blog 