TAKING PARTIAL PROFITS ON ALIBABA AHEAD OF EARNINGS $BABA
This post was just published on ZYX Buy Change Alert.
BABA position is long from $68. 80% of the full core position size is being held. Profits have been taken as high as $110.63. The stock is trading at $80.06 as of this writing.
There is significant risk in the earnings to be reported tomorrow both on the upside and the downside. It is prudent to take profits on a 30% tranche in the zone of $80 to $82.63 before the release of earnings.
After this profit taking 50% of the full core position size will remain.
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May 6, 2015
