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good evening I'm Dan Fitzpatrick at stockmarketmentor.com look right every morning so you can take the stocks that you saw on TV last night okay we're going to start with Alibaba now after the market closed um SoftBank reported that it's selling 7 9 billion worth of um Alibaba stock okay now they own 30% of the company this only takes them down to 28% okay so wow 8 billion bucks knocks him down from 32 to 28% of the company I sure wish I was soft bank anyway so then the question is what's up with this is this the time to sell um Nathan was was yucking it up and I was too actually about how dumb this makes Yahoo look uh cuz they've had big Stakes a big stake in alib bab it's like the one thing that they've done right um this century and uh so what are you going to do with that I don't care about Yahoo what I care about is Alibaba here's the thing to remember they're selling 8 billion bucks worth of stock somebody's buying it and it's not Billy Bob and Jethro um you know portfolio management company okay some big money is buying this stock also not exactly in an uptrend to where you can say soft bank is really taking huge profits I don't know what their cost basis is and don't care they're selling the point is somebody's buying this and this is like big news oh my gosh $8 billion do worth of stock is being sold the stock is down to 80 bucks I think this is a stock that you can be buying here okay then they were also talking on Fast Money about Tesla whether the company's going to be able to to meet its manufacturing goals basically whether they're going to be able to make enough cars to satisfy all the demand it's one thing if everybody wants your product it's quite another if you can actually deliver that product to everybody um so what's up with that I really I mean this honestly I really don't give a rip whether the guy I forget his name um on CNBC says that Tesla can meet their goals or not um Tesla trades the way Tesla trades which is a little bit unpredictable and since this February low it's been kind of one of those by the stock on dips even though the fundamentals stink what I think you got to do with Tesla is look at it in the context of this box or maybe this this one and say no matter which way you cut it this is not a good entry point for the stock if you're a tonian and you want to buy the stock that's great good for you it's above the 200 day moving average I'm just saying from a trend standpoint there is none flat 50-day flat 200 day moving Average stock has been on both sides of the 20-day moving average recently this is a stock where you really have no Edge so if you're going to buy Tesla buy Tesla live and die by the sword now the last thing um Rick Ross or Rich Ross I forget his name um techn technical guy for some company again I forget that too uh was on Fast Money talking about basically he's bullish on financials um the uh the yield curve is flattening um fed's probably going to raise rates and so he's bullish on on financials and was showing you the S&P Financial index so I'm looking at his idea and he was talking about Black Rock and uh finerman noted that like I'm not really sure why you're on to that because it's not really a financial company it's more Market related and so okay that's all all well and good everybody has their opinions uh I'm just looking at the different financials trying to plan my own trade because I don't really care what somebody else thinks I want to know what I think and the only way I can think is by trying to take some independent thought here and I want you to do that I want you to listen to my you know certainly watch my videos hopefully and by the way thank you for doing so because you are now kaua but then I want you to use your own opinion because I don't know everything I get stuff wrong all the time um but I'm doing my best you need to do your best too and this is what you do you go like okay JP Morgan it's a financial company if if the FED starts hiking rates um even one time financials are going to go they're going to go higher JP Morgan not in the best uh not not at the best point to buy you can see the zigzag okay this is really up at the top of the range so what you do is make make your trading setup in advance and that is if the stock falls back to the 50-day moving average you go ahead and consider buying that stock and I'll show you how I do it here on tc2000 and by the I'm I'm showing you this I'm not Hawking tc2000 um I'm just showing you what I do and I get no I have no op no uh Financial upside in this I'm just showing you what I do so I want to be buying this at the 50-day moving average so I'm setting a price alert where the price the moving average in relation to the price history is above basically above um the stock price I want to set that for a month that's it so when the price goes below the 50-day moving average I'm going to get in a little alert and it's going to say buy point then I'm going to look at this and decide whether I want to buy or not that's how I trade this kind of stuff you can use these types of alerts and you're trading software has them to you just have to get in the habit of using them so anyway that's my take on Alibaba esent and JP Morgan um hope it works for you hope you'll try stock market Mentor I'll see you on the other side
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