9/10/2018 Markets drop from last week with technology stocks dropping the most. MU drops a lot, and BABA continues to struggle.

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. 

MU 9_10_2018.PNG

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 9_10_2018.PNG

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.  

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