$BABA $SPY I'm not a big fan of catching falling knives. With that said, this knife may have hit the ground and it may be ready to pick up. No idea what the Chinese government will do in terms of regulation, but I just can't ignore the $74billion they did on singles day. That's extraordinary. And while it may find this bottom for a day or two more (although option buyers are thinking no later than tomorrow), I'm looking to trade from this $255-$256 range back to low $270's. There are very few Chinese companies I'll trade, but BABA is definitely one of them.
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