00:00Even random news coming from China here a be because you got these China stocks all popping up and it looks like maybe finally
00:08The Chinese government's gonna try to help their stocks
00:12Yeah, I mean, I don't know if I would call it random just because we've known that the Chinese economy has had some of these
00:18issues and you know
00:21Certainly in the property in the real estate sector and you know, what do central banks do when the economy is struggling?
00:27Typically, they try to you know, cut rates and and offer some sort of easy monetary policy
00:33So the PBO see the Public Bank of China cut a key interest rate
00:39And plans to reduce the amount of money banks need to hold in reserve in order to boost lending
00:45and then all alongside a
00:47Package of measures to shore up the property sector
00:51So that all these announcements have resulted in Chinese stocks just absolutely ripping overnight
00:56It doesn't matter whether you're looking at the Chinese auto companies whether you're looking at, you know
01:00Your Alibaba's your JD's or even some American stocks that have exposure exposure to China. So if you're long the China trade
01:09You know, you woke up this morning and your portfolio was very very green
01:13We're a little bit long to China trade I thought yeah work the Baba the Bobster a be there to where'd you buy the Bobster
01:21So I bought it a few different times
01:24My price my total, you know average cost is probably around like $75. I want to say it's nice
01:30I'm looking good on it right now. But the thing is is that like
01:33$95 like I don't it's still pretty much just as cheap as when I bought it at so when you look at the chart
01:40You know, it doesn't look like we've made that much progress even though we've gone from you know, 60 a low of like what $67 up to 95
01:48So that's a pretty good move there. But if you zoom out and you look at the long-term Baba still really hasn't gone anywhere
01:55That's a pretty good average price
01:57That's better than probably 99% of the investors out there at the average price. I know 81. My average is 81
02:05So and I've been up down and all around in this thing
02:07I was at one point time I was up 10 bucks and then I was down 10 bucks now back up 13 bucks and like
02:13You know why you probably should just take the money and run. I say this on the China stocks
02:17I said it when I was up 10 and I didn't do it and I'm said my long-term portfolio and I'm trying to say
02:21Oh, well, eventually, you know China's gonna get behind their stock. So it's a good headline
02:26It's a good headline if the government's gonna start supporting the stocks a little bit more
02:30It's a good headline if the government's gonna start supporting the stocks a little bit more here
02:35But we've just seen every time these things seem to rally and you think this is the time
02:40It's the time to sell. So I don't know Joel tell us the technicals. We're gonna
02:45What man I was thinking I mean the only way to really put the hexamona on this stock is if I jumped into it
02:55I don't think there's a single stock. We're all three
02:59I'm sure I mean some of them. Is there one? I haven't I've overlapped in Joel on a couple
03:04I got for sure. I mean it was like Intel. Did you ever buy Intel by AB? I don't know
03:11I don't think so. Oh, you know, I
03:13Interrupted Joel Joel. Give us I just want to say look at this chart. Okay the monthly and I made it bigger, right?
03:20And what do you what do you see here for the first time?
03:25that maybe I'm going back all the way to
03:292016 here. What do you what are you seeing for the first time?
03:34higher high
03:36I'm looking more like to support, you know, like this. Are you looking at the one of the right at the monthly?
03:43I'm just looking at this huge stock
03:48Under 80 dot look at this these monthly lows here
03:52Buyers you you're founding buyers work. This is how Institute how stocks move
03:58Institutions they can pick a price. Okay, and then they say I want as much as I could get it
04:03You know, finally after all this mishmash they decided they wanted to be in at 70
04:08All right
04:08and they tried that for a couple months right and
04:12It got away from them a little bit and then they started up their price so that that 70 was great support
04:18They bumped it up to like the higher 70s, right and now you're busted above 80
04:24So it's like if this and now you're 15 bucks away from 80
04:28I don't know if anyone's gonna be chasing it here
04:31But I don't see a period of as many monthly lows in the same area
04:36Really at any point here you only had three here. You had three here
04:41You had four you're talking, you know, at least six seven monthly lows like in the same area
04:46So, oh, I like I like it. I love the chart you get over a hundred you clear a hundred you said
04:53You know a bit at a hundred the most important things for this is like to establish a bidder
04:58Underneath the market and continue to move higher on a shorter term basis
05:03If you're looking for a short-term target, which I know you guys aren't that's 95 40
05:09Really on the monthlies. I mean you got to be thinking about triple digits right now if the momentum continues here in Babel
05:16You
Comments