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Ha see this is where my plan is so brilliant.
I get a 10percent employee discount on stuff.
Lots of carabiner and rope and ...other stuff.
In other words party is still on...at your place.
This notion - that nothing has fundamentally changed with the company but the macro economic factors are pushing us down, is something I've been thinking about for more than a year (since this Covid thing started). Doesn't mean I was right then or now, but I also continue to see the bias in the shares as down over up.
I've also seen this dynamic - a good company with no changes in fundamentals - have their shares driven down back in 2008 or 09. I found a great company paying a nearly guaranteed dividend that was worth $80/share that was on sale for $40/share. Bought me a 11% dividend that continued expanding every quarter I owned the company.
Or more specifically - even back at 700 - I was expecting 600 before 800 and that is still true (and not nearly as big of a prediction today ).
I'm also starting to think 500 before 800 with low 400s on the table. Low 400s was where we were when the S&P announcement was made. We traded from there up to 700 awfully fast. So one view on this downward move is its a retracement to go fill in that move from low 400s to high 600s that went by so fast.
And more broadly for anybody that is looking to their TSLA holding to provide income (via sales or options), be sure you're positioned for the rest of a 50% move down (low 400s from upper 800s). I've felt like at least one of these over the next decade was inevitable. I didn't really consider the start of 2021 to be one of these, but I also didn't think that it couldn't happen.
I would sure like to be wrong and see the shares start moving back up.
Right? Stock is crashing as of rates became 5% or something. People are expecting rates to recover to pre-Covid levels. IMO it's more of an issue if rates doesn't recover to pre-covid levels(meaning the expected boom in economy as things open up is fake news and the economy is actually a lot weaker than the market suggest).This macro movement is complete in my opinion. Yields have been higher previously in a healthy economy and a re-opening economy is good for Tesla. Even a moderately inflating economy is good.
I bought a 1/22 400 call when we were at 680 for $330.
Been selling weekly covered calls at the highest daily resistance level for $6-7. First it was 750, then 730. Next week its 715.
I have no problem selling my LEAP to close out a weekly because I will win anyway. If it was my core shares, I would pick a much higher strike.
But yes, I can roll the weeklies up and/or out quite easily with Portfolio Margin.
Right? Stock is crashing as of rates became 5% or something. People are expecting rates to recover to pre-Covid levels. IMO it's more of an issue if rates doesn't recover to pre-covid levels(meaning the expected boom in economy as things open up is fake news and the economy is actually a lot weaker than the market suggest).
It's fine to dump bonds on forward looking sentiment, but the yield is not even at pre-covid levels so what is the big deal? They say "well now there's an alternative"..in what way? If everyone shifts back to bonds then it'll drop. If you buy bonds today then the value of your bond may drop if rates go up. Treasury bonds have been a crap alternative for the past 2 decades and all of a sudden it's an alternative at current yield rates? LoL.Essentially, I take this to support how the faith people are putting into the distribution of the vaccine is providing evidence of a broad placebo effect upon how they consider the bigger picture.
Not saying the vaccine is a placebo, only that the tremendous faith in the positive effect of it as being both instantaneous and universal is a placebo effect. The result of this emotional aspect results in a rush back into some investments as if everything is already "back to normal" when that transition will only be achieved over time, rather than overnight. (not to say that there is no benefit in positive thinking)
We are trained to expect instant gratification by the "programming" we've been subjected to over generations of feeding upon advertisement and promotion of goods and services. ("we" being the general populous) This expectation has been instilled into the collective psyche by repetition via successful transactions in common things like consumer shopping. This expectation of instant gratification is realized often enough to establish it as being a somewhat valid baseline to many folks. They make their business decisions by measuring to some degree against this benchmark. Hence, some explanation for part of the current silliness we are seeing.
People, are a problem. Particularly when their lizard brains overrule their more rational grey matter parts.
Just curious why you would need the LEAP for this strategy. You could just simply sell those weekly calls against the long shares in your account correct? What am I missing?
Does everyone REALLY think that at the flip of a switch we all go back to the life before covid? Laughable.
I share your pain.Gotta love losing 5% every day.
Don’t be jealous of these $883 bags I’m holding
I share your pain.
A friend bought at $850.
He sold today at $650.
He’s planning to rebuy in 2 weeks at $500
Work? I thought you all were retired multi-millionaires around here?
Ok. The fat lady has sung or at least tweeted. Should be over. View attachment 642154
More like a field of FUD, amirite guyz?Another field of MUD, it will be a DUD
I share your pain.
A friend bought at $850.
He sold today at $650.
He’s planning to rebuy in 2 weeks at $500
Let them work for their money and let them buy their own TSLA shares with their hard worked money so they know the actual value of those sharesI would be a "retired millionaire", and as I am 65, I really should enjoy the fruits of my patience with TSLA since 2012. But sadly, I am emotionally involved with my shares, I just can't let any of them go. And so, I continue to work my business. I guess it will be my children who will be those to reap the good life.