8/1/2021 Markets mostly flat this week with QQQ slightly down due to Amazon drop. Chinese stocks look very good for a long term entry (BABA and JD).

Hi everyone, welcome back. I’m still holding M and WBA in my swing trading account, along with my biotechs (PRLD and TLIS) and DIDI in my Roth IRA. No changes to those positions.

Chinese stocks, especially BABA, look very good for a longer term entry (1+ year hold). I don’t think there’s any bankruptcy risk. Delisting risk is very low too. Because of these reasons, I’m willing to risk up to 30% of my account on BABA.

BABA daily chart below. I will be buying 25% of my total position on Monday at market open in my Roth IRA, and 25% more at 170, 150, and 130 in my swing trading account. Total combined risk will be 30% of my total account value. My minimal holding period is 1 year, but I might hold up to 2-5+ years.

BABA weekly chart below showing levels for my 3 other limit orders.

Please enjoy your week and stay safe. Good luck trading.

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