Update: Alibaba's Lion Roars

Alibaba displayed the signs of being King of the Market this whole week. Monday, we made the pick at $98.00 and three days later BABA sits at $112.00. Time to scale out?

On Monday November 3rd at 2:26 pm just 24 hours BEFORE the Alibaba earnings were out, MOJO traders got seated quickly as the show was about to begin. Popcorn and drinks were finished as Mr. Alibaba danced from $98 to $99 and jumped through $100 mark with a power move. 

The Lion Roared and in the After Hours on Tuesday the stock reached $105. Was this a sign of things to come? Now, at $112.50 per share traders should be scaling out of the stock, locking in profits until the stock reverses.

 

Here is the Original Pick Image From 11/3 at 2:26 pm

 

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