Tesla on queue for its next breakout
Diupdate
Some things I've learned over the years:
1) Being too skeptical prevents you from generating big returns.
2) Do not doubt how long a strong trend could last.
3) It's in your best interest to be optimistic about the future.
One point as it relates to the Tesla controversy - I have ZERO interest in being skeptical of an uptrend. If the chart is in a downtrend I'll happily join the dark side.
Here's my last long term analysis on TSLA (before the split):
Notice NIO's price action recently has been similar:
Last point as it related to the Tesla controversy - I have ZERO interest in being skeptical of an uptrend. If the chart is in a downtrend, the I'll happily join the dark side.
1) Being too skeptical prevents you from generating big returns.
2) Do not doubt how long a strong trend could last.
3) It's in your best interest to be optimistic about the future.
One point as it relates to the Tesla controversy - I have ZERO interest in being skeptical of an uptrend. If the chart is in a downtrend I'll happily join the dark side.
Here's my last long term analysis on TSLA (before the split):
Notice NIO's price action recently has been similar:
Last point as it related to the Tesla controversy - I have ZERO interest in being skeptical of an uptrend. If the chart is in a downtrend, the I'll happily join the dark side.
Catatan
I view the lower trendline I drew as unreliable and have adjusted it (see below). I went long last week at 435 just before it hit 450, and got stopped at breakeven. I am now monitoring for a re-entry but waiting for price to at least get above the 21d MA on the daily chart and get tight above it.Catatan
Today will probably be my second best trading day of the year. I went long a nice chunk of the December 4th 420 calls just before the market closed. The market has been very challenging in the last few months. I don't want to make it look like I print money and avoid losses. I had 2 losses in Tesla before this one. One was a breakeven (435 -> 450 -> 435), the other was a .5% on capital loss (414 -> 4010). I've had some other losses that I haven't published either. A lot of paper cuts could add up. If this is happening to you in a choppy market, the best way to solve or improve this problem is by increasing your time frame/widening your stops/betting a lot less. The good news is huge winners compensate for a lot of paper cuts very quickly.
If Tesla trades above $460 today I will be up about ~15% on capital in a single trading day. For context, I am usually +/- .5% -> 1% on an average day.
Catatan
Took full profit on my options just before the market closed. Didn't like the way Nasdaq and S&P were sliding down. Today was my best trading day of the year.
I bought the 420 calls (dec 4th) at $13 per contract. I sold all at $71 per contract.
Well positioned options can be extremely rewarding if timed well.
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