Today was a surprise to me. With yesterday's after-hours trading, I suspected the market was ready to bid TSLA up today, not down. Looking at today's pre-market trading, you can see a willingness to push TSLA higher, but there was no strong buying going on and shorts were able to turn a meager green open into a dip in short order. Judging from the clear icicle patterns, I suspect the shorts threw lots of resources at TSLA today. As for the short percentage of TSLA selling, I have a really hard time believing it was a mere 51% when looking at the shape of the trading chart. Just look at all those icicles. The aim of the shorts is clear: to establish a downtrend and throw whatever resources into the endeavor as necessary. Judging from the end of market trading today, however, it looks like they are having a hard time holding onto their dip. Also, looking at after-hours trading, you can see what appears to be an attempt shortly after after-hours begins to suggest that the rise into close was an oddity, but after-hours was turbulent and finally closed at almost exactly market close. Macros were very good today, which also suggests there was more shorting today than the volumebot.com chart suggests.
Shorts did 50.92% of TSLA selling today according to volumebot.com, but personally I believe they did a relatively higher percentage and used non-FINRA exchanges to hide their significant efforts.
Looking at the technical chart, you can see we're still above the mid bollinger-band, and so the upper-bb continues to rise, which is good.
By now, I had expected bullish analysts to begin talking about the very substantial positive cash flow that will be generated in Q3 from these production and delivery numbers. No such report has surfaced yet, which suggests a partial explanation for why the stock price hasn't yet turned around. I'm just grateful that Elon settled with the SEC because there is no outstanding reason for a dread felt by longs and the downward movement should be broken soon enough. I cringe when I think of what the shorts would have had in mind if the SEC settlement was not in place, however. Better days lay ahead.
Conditions:
* Dow up 54 (0.20%)
* NASDAQ up 26 (0.32%)
* TSLA 294.80, down 6.22 (2.07%)
* TSLA volume 7.9M shares
* Oil 76.18, down 0.23 (0.30%)