2017 Investor Roundtable: TSLA Market Action

[TrendTrader007]

It's ran so much that it's incredibly risky to buy at these levels.

Really! I just bought $130k worth at $297 at open plus another few at $302 as well as a bunch of calls on TSLA. I'm glad you think it's incredibly risky to buy at these levels. I'm buying with both hands and for the first time since November 2016 my stock holdings in TSLA are at an all time high. Maybe I'm delusional but I totally believe that buying TSLA at $300 is actually safer than buying it at $182. But it's just me and I tend to get a bit carried away at times

 

[1kEE]

TSLA at $300 is actually safer than buying it at $182. But it's just me and I tend to get a bit carried away at times

Some people are more value traders, some more momentum... I prefer buying at $180 but I bought this morning as well.

 

[Bobbyducati]

back in at a better price with the same options. couldnt stay away for long! gota pay for that new AP2 model S somehow.

 

[neroden]

To get to a somewhat reasonable (although still quite high) short interest of 10M, about 20M shares need to be bought. This is probably more that the total current share float. I don't understand how this is going to work. Please, nobody else try to buy shares or you could cause a real problem.

Nah, it's not that high. Days to cover is only 7 or 8... (which is still ridiculous). I do expect to see some margin calls on the shorters...

 

[neroden]

True but why buy at a price that may take a while for the stock to reach again. Us long term investors have to manage risk, too.

Well, for various reasons my choices in my IRA were "buy stock, let it sit for years", or "leave it in cash, hope there's a better opportunity to buy later". Which there might not be.

With the money *outside* my IRA, you know, I can, like, spend it... so there's more value to having it liquid...

 

[geneclean55]

Nice little post-lunch bump

 

[FredTMC]

Nice little post-lunch bump

Ya. Love to see a $304 retest

 

[GoTslaGo]

For the real Elliot Wave theorists out there (I'm a tourist), if we assume that the first run up from 180 to 280 is motive wave 1, and the recent pullback from 280 to 240 is wave 2. Then we are beginning wave 3.

Points about wave 3.

My understanding is that typically it is the strongest motive wave and will almost always be longer than wave 1. Thus we will likely see SP exceeding 340 (240 to 340) with this wave.

Also wave 4 (down wave) cannot be below the upper peak of wave 1 (with rare exceptions). Thus the lowest point wave 4 will go down to will be 280-290 (new support).

After that... not sure.

Is this correct?

And yes, I apologize, haven't been able to finish my Elliot wave theory books, yet.

 

[Starno]

For the real Elliot Wave theorists out there (I'm a tourist), if we assume that the first run up from 180 to 280 is motive wave 1, and the recent pullback from 280 to 240 is wave 2. Then we are beginning wave 3.

Points about wave 3.

My understanding is that typically it is the strongest motive wave and will almost always be longer than wave 1. Thus we will likely see SP exceeding 340 (240 to 340) with this wave.

Also wave 4 (down wave) cannot be below the upper peak of wave 1 (with rare exceptions). Thus the lowest point wave 4 will go down to will be 280-290 (new support).

After that... not sure.

Is this correct?

And yes, I apologize, haven't been able to finish my Elliot wave theory books, yet.

After that there is M3 coming in which won't be a wave but a huge tsunami that's gonna destroy everything on its way.

 

[FredTMC]

Retest of $304.

Everyone buy 100 shares on the count of three. Here we go. 1, 2, 3. Buy NOW!

 

[TheMrX]

Am I seeing a nice short term (end of day) sup and hadle here?

 

[FredTMC]

Retest of $304.

Everyone buy 100 shares on the count of three. Here we go. 1, 2, 3. Buy NOW!

Thanks everyone. That worked!

 

[geneclean55]

Thanks everyone. That worked!

Did you have 007 on speed dial?

 

[Tslynk67]

Kith my ATH!

 

[Papafox]

Here's hoping vgrinshpun or someone can share with us the short drawdown/covering for the full trading day. I wouldn't be surprised if we're seeing this afternoon the first real wave of shorts throwing in the towel after the recent run up.

 

[Bobbyducati]

closed everything out, made a few day trades. 1122% portfolio increase since friday. wow.

 

[FredTMC]

I'm in favor of another EOD HOD melt-up. Short-covering chaotic frenzy please..

 

[Starno]

Everyone just keep buying please. Buy buy buy. ALL THE WAY UP.

We need to keep pressure on the shorts, until they crack, which will skyrocket the stock to 350 in no time

 

[1kEE]

Come on, we gotta get 305 hahahah.... 304.81 so far!

 

[1kEE]

closed everything out, made a few day trades. 1122% portfolio increase since friday. wow.

What was your poison of choice? Apr13-300C was mine and I only did 6 contracts but had a blast with it anyways.