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I have a name for today's trading of TSLA: a work of fiction. Notice how there was a line drawn at 209 and shorts made a point of keeping TSLA below 209 after the frightening excursion to 210 earlier in the day. My guess is that shorts believe more shares to short are forthcoming and the availability of these shares will cause a SP decline. Just as longs don't like to catch falling knives and buy in while the SP is declining and relatively high, shorts are reluctant to sell in when the SP is relatively low and the SP is rising. Unfortunately for the shorts, TSLA was quite buoyant and would have risen above 209 if they hadn't intervened today, and that was in a very negative macro environment.
For shorts to succeed in depressing the SP and getting other shorts to join in the selling frenzy, substantial numbers of shares to short are needed, because it is the immediate availability of substantial numbers of shares at reasonable rates that not only enables the decline through shorting but it also provides the catalyst to get the ball started rolling downhill. If Tesla busts upward through 210 and accelerates its rate of climb this week, it's game over for the shorts this week. I wouldn't be surprised to see a selling flurry right at open tomorrow for the purpose of getting the ball rolling downhill. If the descent is broken and TSLA starts climbing above 210, things will look bright for the longs. If lots of shares come available and longs get spooked by a short-selling induced drop, then things look good for the shorts, at least temporarily. At some point, appetite by longs for shares before this weekend will prevail, I believe.