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There is so much unexpected movement in the stock I have no idea what to make of it.
What a nice re-entry point this morning.. got me a few more...
The Bloomberg TV interview today prolly didn't hurt bump the stock.
http://www.bloomberg.com/video/musk-half-priced-tesla-model-s-in-3-4-years-traZG~gUQK6qXi~QQHNoIw.html
but even more so this part:
http://www.bloomberg.com/video/tesl...nts-affordability-jVvVhuchQuGkYJeyp4RSDw.html
Seriously. I've been slowly buying back in and had a limit set to $85 today to pick a small bit more, but it decided to rise, which is fine by me too. There's got to be plenty of us who sold out mainly and have begun buying back positions for the long term.
I really thought we'd be down into the mid-70's by now and stable but it looks like there is an absolute hunger for this stock. I'm still going to keep my position relatively small and wait to see if I can get something at $85, then more at $80.
With Japan going Lehman on us today, having cash isn't the worse thing either...
this is about my position as well- holding a smallish core stock position; watching for adding long ops Also agree that the market in general in clearly overbought and has been leveling lately- TSLA is now tracking more with the market- for the time being the short squeeze is done, etc. - They do have a challenging quarter coming from a reporting standpoint- as clearly reporting a loss or even a reduced gain will be a challenge for the market at these levels. On the other side, there is a big demand for the stock and that will continue- so my take is we'll see some bouncing around in the low $80s-to low $90s- with some occasional market induced whips outside that. If that's true- then adding in steps on those dips would make sense
IMO the real shorts have just started covering from the short term tsla price movement followers that sold stock.
I follow a broker that posts available shares. A day or so ago they had finally gone above 1M available to short, now down to 450K. Many are still betting on a fall!
Right, but these new shorts are not being squeezed really. They aren't being forced to cover as they've recently gotten in as shorts. Perhaps there's a bunch of weak handed shorts who are covering now that it didn't fall has $85 today or something. But I think the epic Tsunami of Hurt we've been discussing here for months has come and taken its victims and their families for now.
It's funny, we've all been discussing this short squeeze to the point where I don't think anyone really thought it would happen. It was by far the most obvious thing ever.
Norse: re my prediction of a dip into the $70s, thought a combo of low volume & zero news for a while (and the market turns its gaze temporarily to some other shiny object) might quickly, briefly take the wind out of TSLA sails. Should have known Elon was not about to let THAT happen. Up 6.5%. Again. ML
I disagree on the squeeze being over.
IMO the real shorts have just started covering from the short term tsla price movement followers that sold stock.
I follow a broker that posts available shares. A day or so ago they had finally gone above 1M available to short, now down to 450K. Many are still betting on a fall!
We can hang out here for a while, need a catalyst to move up down much. Perhaps that catalyst occurs after a few more of you sell out for small gains, then the price can go up another 50-100% for more profit taking.
Sleep well.
This is why I stated several posts back that when TSLA moves up enough, there will be "round 2" of pain for the new shorts, and they will further fuel the upward momentum of the stock as these "smarter" shorts run to cover . It's a pain feedback loop
goodness gracious Elon needs to sleep. It would be beneficial for EVERYONE