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Social Chat - Short Term TSLA Movements
- Thread starter Jonathan Hewitt
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- TSLA
Curious to learn from others on this forum what are tell-tale signs that this retraction is really just "weak longs" that are selling. I'm debating going "all-in" if it hits the 50 ema in the coming days. Seems to be a pretty solid opportunity for accumulating stocks before Q3 ER. Thoughts?
Mario Kadastik
Active Member
Well I did get in some more today, but reserving some cash in case this slide continues tomorrow. I'm still net positive, but barely, mostly thanks to the fact that I was ca +25% on Friday, am down today ca 18%. Also had to take a loss on the short puts I had today to avoid margin calls. Oh well, been loading up too much and seems the margin requirement doesn't use my options value, just cash and stocks so having ******** of options doesn't help. Then again I noticed that I've managed to somehow balance my portfolio to be ~50% TSLA, 50% solar. So some of the TSLA crap today has been slightly balanced by solar though that sector did take a beating in late hours of trade. So right now I'm looking at a portfolio net liquidation value that is pretty much what I've put in there...
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Chickenlittle
Banned
we wont know. we are all blaming the article that came out about registrations in germany but this could be a major owner selling shares too. its human nature to look for a cause but we freqeuntly blame a coincident issue for a current problem.
CyberDutchie
Active Member
I should have bought more while it was low haha. I was close to doing so but thought I'd wait it out just in case it tested the 168 support.
Mario Kadastik
Active Member
I know what you mean. I had the order created for Nov 190 at $7 and hesitated to press send. The moment I thought ok, I'll do it it had already started to rise and off it was
Damn...And it drops again, so I guess the news was finished digesting and, uh, well, I'm not sure I want to take that analogy further.
Market is up, TSLA is down even with the Munich news having hit.
And the entire solar market is getting crushed this morning. I didn't think today could be worse than yesterday, but it's already close and it's only 8am PST. I'm down about 25% of my entire portfolio in less than 2 days.
Mario Kadastik
Active Member
The Munich news hasn't really hit it I think. The morning rally was a technical one bouncing off the previous resistance levels. There is still no news on Munich so that's still to come. The drop now is most likely due to the NHTSA investigation into a Tesla crash (I'm guessing the fire?)
Mario Kadastik
Active Member
Oh and for me that's the final buying opportunity, picked up Nov $190 and now chasing Dec $190 with a trailing order (already down ~$1.5 from when I started the trail so definitely worth it). The only real question is where do we stop now that we've broken below $169.
My guess would be jobs report/dollar falling:
http://www.nasdaq.com/article/dollar-drops-after-us-nonfarm-payrolls-miss-cm290001
http://www.nasdaq.com/article/dollar-drops-after-us-nonfarm-payrolls-miss-cm290001
Not just Nasdaq but almost everything else was tanking hardcore. I was trying to find the bottom to buy more calls but TSLA jumped from $166 to $170 too quick for me to buy more cheap calls.
mnx
2018 M3P
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