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A lot of effort to close below 250... was like watching a game of tennis!
And looks like the shorts lost
You have to admit that this kind of performance from TSLA on big up days for the broader markets is not uncommon. Both the DOW and the NASDAQ opened way up and climbed slowly as the day progressed, up until close to closing. TSLA also opened nicely up but whether you blame it on short-sellers or traders looking for a better day's return, money left TSLA once a downtrend started in the morning and went to stocks that more-reliably follow the broader indexes. I think there are traders who specifically avoid TSLA on big up days for the broader markets. TSLA rather marches to its own drummer, and once the stock is out of sync with the the direction of the broader markets, it's likely going to be a disappointing day for TSLA, irrespective of news.
@techmaven pointed out that my bellyaching is unfounded since we had an out-of-sync up day yesterday. so for the 2 days we are market performing if you squint.
RoadsterPlease
Member
Yesterday was net shorting day (131k shares), but there were some covering (118k). There were only 97k shares available for borrowing at Fidelity at 8:00am, down to only 14K at 9:29am.which will likely be increased by Fidelity before market open. For almost a month now - since 2/06 - there is generally a daily mixture of both covering and shorting. Prior to that we did not see much covering at all.
I am not able to upload the snap shot file at this point because of TMC error code, will try later.
I am not able to upload the snap shot file at this point because of TMC error code, will try later.
Jonathan Hewitt
Active Member
Do you think it's mostly "smart shorts" getting out and "dumb shorts" getting in? Or maybe shorts who shorted at highs taking profits with new shorts getting in hoping for a drop to $200 again...Which I suppose could also fit the first situation I described
Do you think it's mostly "smart shorts" getting out and "dumb shorts" getting in? Or maybe shorts who shorted at highs taking profits with new shorts getting in hoping for a drop to $200 again...Which I suppose could also fit the first situation I described
It is really hard to read the tea leaves here. What is clear is that almost every day since the 2/6 there is some covering going on, while prior to that date there were only sporadic covering. To me this is an indication of certain cracks in the sentiment among the short sellers. The creepy thought about getting out and likely cutting losses might be taking hold in their minds. To me this is really a morsel of information which we can extract from my observations so far.
racer26
Active Member
The morning pop followed by a dip is becoming a pattern. I couldn't resist trading it with mar-17 calls.... bought towards close yesterday, sell order executed 8 minutes after open today.
Tempted to do it again if today's pattern looks like yesterday, which it does so far. Light volume, morning pop, dip, slow rise to below the morning pop, now will the afternoon trade down again?
Also still trying to sell 262.50 calls for tomorrow but have not managed to convince anyone to buy them yet....
Will the light volume and maxpain at 260 pull the price up a bit tomorrow, be interesting to see.
Tempted to do it again if today's pattern looks like yesterday, which it does so far. Light volume, morning pop, dip, slow rise to below the morning pop, now will the afternoon trade down again?
Also still trying to sell 262.50 calls for tomorrow but have not managed to convince anyone to buy them yet....
Will the light volume and maxpain at 260 pull the price up a bit tomorrow, be interesting to see.
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