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I swear 364 is haunted. Every time SP goes above it, it always has to come down.
ValueAnalyst
Closed
JRP3
Hyperactive Member
Grabbing popcorn and counting down....
ValueAnalyst
Closed
At 10:30 am every Wednesday morning EIA weekly inventory data is released.
TSLA still has some correlation to oil equities. R squared varies depending on time frame.
I don't place much importance in it, and I don't trade around it, but it's something to keep in mind.
JRP3
Hyperactive Member
Damn..how did you know I finally got fed up with being below 364 and just sank 1 billion dollars into TSLA hence the volatility just now
ValueAnalyst
Closed
What the heck were you expecting? A short squeeze?
bdy0627
Active Member
Last time I nagged about 364 it seemed to have worked. Let me nag about 365.
I swear 365 is haunted. Every time SP goes above it, it always has to come down.
My interpretation of today's trading so far? The shorts or other entities who wish to avoid seeing a TSLA run-up are cutting off upswings at whole numbers and then trying to push the SP down to the next whole number. The dip at 10 am was the mandatory morning dip and wasn't too successful. Overall, the shorts are losing ground today. Their best hope is to do what they did yesterday, which was to slowly decrease the SP during the low volume late afternoon hours of trading. Unless the macros or some credible bad news comes to their rescue, I think they're going to lose this fight this week to contain the run-up that began with the 2Q ER.
edit:
We may see a return to the red/green/red/green scenario where there's pressure for TSLA to rise and the shorts are putting in a strong enough effort to keep TSLA from rising two days in a row.
Between 12:30pm and 1:30pm the NASDAQ slid down fairly quickly, which led to TSLA also losing ground. Now the NASDAQ looks like it has stabilized. On page 382 of the TSLA short-seller's handbook of dirty tricks, we are told the next obvious strategy of the shorts is to extend the TSLA downtrend for a while longer and hopefully avoid any rekindling of optimism within longs today.
Overall, the strategy we've seen today of minimizing the climbs in hopes of a macro decline have proven somewhat successful for the bears today. Without such intervention, TSLA seems ready to climb. It's a game of chance to a large extent at the moment.
Note: Post moved here from General Discussion thread
Overall, the strategy we've seen today of minimizing the climbs in hopes of a macro decline have proven somewhat successful for the bears today. Without such intervention, TSLA seems ready to climb. It's a game of chance to a large extent at the moment.
Note: Post moved here from General Discussion thread
As you, I and others have noted, lower volume days devoid of any new positive news will tend to be neutral/down days.
Positive news could crop up at any time but the next news we know of is the semi reveal.
I hope to be pleasantly surprised with an early Sept date for this reveal but it is more likely to be closer to 6 weeks away.
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