Going to be patient here. Last time it started dropping, I bought in too early, and kept on buying, and buying, and buying. By the time I got to the 25s, I didn't have a great average cost. Not sure exactly when I am going to try and get in, but definitely not before 27 or lower.
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TSLA Investor Discussions
- Thread starter Fr23shjive
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Going to be patient here. Last time it started dropping, I bought in too early, and kept on buying, and buying, and buying. By the time I got to the 25s, I didn't have a great average cost. Not sure exactly when I am going to try and get in, but definitely not before 27 or lower.
Citizen-T
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Just wondering when that "breakthrough" point will be.. maybe once TSLA reaches 5,000 deliveries, without any issues? Seems like this up and down pattern has been going on for a while. When do you guys predict it will bust through and near some of the price targets we've seen earlier such as $50 by Goldman?
Citizen-T
Active Member
In general (and loosely speaking) technical patterns continue until a news event pushes you in a new direction. For instance, it was news of the production delays that broke us out of the up-trend that was put in place by the first deliveries. It seems GeoregeB's blog and news of Elon's new compensation plan was enough to give us a short-term bump, but not big enough to get us through the resistance at the 50-day.
The only other news on the horizon that I'm aware of is the Supercharger network announcement. Seems like it will have to be a really serious surprise to make something happen here (oh, and not cost a lot of capital, because investors are already nervous about that).
News about improvement in the overall economy, Europe, or more easing by the Fed could set the whole market in Bull mode, which I suspect we would participate in.
Looking at all the "news" in the past year that has contributed to the volatility, I think the breakthrough will be a quarterly report where profits are realized. The other news (5,000 cars delivered, supercharger, beginning fed loan repayment, etc.) will create more volatility as news has in the past.
You sound very much like another poster here.
Yeah. Banned after one post. Must have posted something else.
Or perhaps he had the same IP Address as another poster here
CyberDutchie
Active Member
Question for all you seasoned day traders here, let's say you decide to get in at $27, would you put a limit order now and let it expire in 60 days, or is that too risky?
Just don't know if I'm going to be able to keep an eye on the stock price all the time, and there are some wild swings, even intraday.
Well, the reason you do a limit order is to avoid risk. That is you'll get it if you're the first in line at $27. Of course, the stock could go lower than $27, but if you've decided that $27 is the price you want to buy in at, there isn't any risk (other than the risk posed by holding the stock at all, which most of us don't think is a risk). Of course, you might put in several orders at different prices: $27, $26, $22 so that if it does go down more you'll get some at each price level.
Thing is, that if you're going to day trade seriously, you need one or more of those real-time stock trackers and you need to watch what happens every minute. What placing a limit order and waiting is, is basically investing. If it just happens that you purchase the stock at $27 and it goes to $35 the next day and you sell it--that isn't day trading (at least it's not day trading as I define it).
Citizen-T
Active Member
The type of trading you do needs to be proportional to the amount of time that you can spend watching the stock, news on the company, and doing analysis. If you do not have and appropriate amount of time or inclination, you should take a more medium term view (at least) rather than setup limit orders and let them ride.
The biggest risk with setting a limit order and letting it sit is that if some news event causes a dramatic change in price, and you didn't happen to be watching that day, someone is going to sell you shares at a much higher price than they are worth. Think back to Jan 13th, TSLA was down 20% at one point. If you weren't watching that day and had a limit order open at only 5% below the former close, you would have got killed. On the other hand, if you knew that you wanted to buy if it was down another 5% and checked that day, you would have seen it down 15 or 20% and could have put in an order at those prices (always, always, always, limit order).
Allow me to suggest an alternative. Set a notification. Most brokerages allow you to set a notification for when the price of a stock reaches X. If you think you want TSLA at $27 have your broker email you when that happens, then you can get to a computer and see what the news is, see what the current price is, and make an informed decision about whether you still want it for that price.
I've got to reiterate. If you can't spend some time on TSLA every day, you should not try to capture the daily volatility. If you can't spend time on TSLA once a week, you shouldn't try to capture weekly volatility. If you can't do your homework on TSLA once a month, in my opinion you shouldn't be invested in it at all, buy an index fund or invest in a mutual fund.
CyberDutchie
Active Member
CT, thanks! Great suggestions and advice, I'm learning every day.
I bought my shares last December at $30 with the hope to let it sit for a year and watch it grow, then sell at a nice profit to help pay for some options for the Model S that I otherwise couldn't afford. When it was at $39 I felt really good about the strategy. But after last couple of weeks I thought I may have to buy more to lower my average, so that I can still squeeze out a profit come December.
mnx
2018 M3P
"D" prints most likely. Probably trades they were reported after hours but happened earlier in the day.
Snippiness went to, well, snippiness. -mod
For what it's worth, I think that a closing quote would be appropriate to post on a day with major movements, but perhaps not on a daily basis.
For what it's worth, I think that a closing quote would be appropriate to post on a day with major movements, but perhaps not on a daily basis.
Citizen-T
Active Member
Approaching resistance again. Maybe news of the first Sig being delivered today will get into the mainstream and give us the extra little bump we need to get into a new range.
Might be wishful thinking though...
Might be wishful thinking though...
Not sure what to do here.. I know I'll be mad at myself if I get in and it drops significantly again to the $26 range. Then again, I feel like we haven't seen resistance after a rally like this. Usually it just seems to "plummet" back down again. Ahhh.. decisions, decisions.
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