Listen: Patrick, Streep Fitzpatrick, Jay Pal discussed on MAD MONEY W/ JIM CRAMER
"Which is where I blog for the Streep Fitzpatrick is a really interesting thesis. He thinks the current week. This is already priced into any of the largest highest profile Chinese stocks look at the charts. He believes they've already bought them not gonna take that bottom out, which means dips like the one we had today, which I you could call it a clip dip should be treated as buying opportunities to get this very against the grade before we get into specific examples. Let me explain his. Hi, dear. How can the stocks of the big Chinese companies turnaround? Even when China's economy seems to be deteriorating. Simple. That's bottoms, actually work. It's always how they work. The stock market is a forecast he machine it's always trying to predict the future usually about six to nine months out casually gets it wall. But that's what it's job is somebody then Tom we get the latest data out of the Chinese economy economy. I think well, it should already be baked into most stock prices that means if you just look at your screen and tells you nothing we saw the flip side of this phenomenon the fourth quarter here in the US the big picture economic data like the unemployment rate was downright fad. But the whole market got obliterated because investors were worried about the future after fed chief Jay pal promises series of lockstep rate hikes in October's model said he had to do it palace defenders seemed baffled the stock market plunge because the data they were look at remains so positive no homework beyond that data market will almost always peop-. For the economy piece. It will almost always bought him for the economy. That's what fits Patrick predicting with some of the better Chinese stocks in these are stocks that I have disdained I admit I've been pretty right? I mean, I could this much. This what you kind of wanted to avoid right? All right. Consider. This is the daily charter JD dot com. If the big Chinese commerce play with his talk to got questions seven percent despite this week this when we went back to him back his Patrick thinks that JD dot com just completed totally bible double bottom at twenty dollars per share twenty dollars limit. Is there you twenty dollars bottom and that stole still holding up with the stock at twenty one dollars and sixty eight cents. It didn't get taken out today. He put those very important now early this month, TD dot com broke out above it's fifty day moving average and that floor held even during today's hit yourself to bits, Patrick this is that JD to come is ready to run, but the real straight. Here's in the moving. Average convergence divergence where the MAC, okay, look at this. Cousens use that to detect changes instruction chicory before they happen. Not coincidental. Fits points out that this thing has been surging higher since September. Okay. Look at this. It's actually been going on even as this has been going down. That's not so big. That's what technicians. Call a positive divergence. It means the MAC, do you see that you need a calm has a lot more upside here. It is certainly bottomed. There's no doubt about it. Okay. Still photographer says that the stock is kind of quitting middle no-man's-land right now JD dot com has four support around twenty one right below where it's currently trading, but also had a SU twenty four where the stock Pete Rose month. But it's Patrick thinks that JD dot com. Could be stuck in this no man's land for a while. And at the."