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Friday, September 19, 2014

$baba play

Looks like the market makers did a goodjob holding 90. 

The next few weeks should be interesting. Depending on the trading dynamic, 90 may prove to be the ultimate support. Looking to play the high 80s, but if it rallies then consolidates (before singles day), 90 would be the entry point. 

Considering the hype leading to the ipo, baba needs a consolidation. But a catalyst will most likely be singles day.

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