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racer26
Active Member
Agreed. Dunno why, but QQQ and .IXIC are both matching profiles to TSLA's dive, so its not TSLA, its everything.
Mike Smith
Active Member
What happened is TSLA just went up about 35% in two weeks. A pullback to the mid 280's shouldn't be too unexpected.
JRP3
Hyperactive Member
JRP3
Hyperactive Member
You're that excited by the drop to 294? I know you prefer to buy when the price is higher...
T3slaTulips
Member
Jonathan Hewitt
Active Member
This seems like a likely reason?
The Fed now appears to think that Trump won't boost the economy until 2018
The Fed now appears to think that Trump won't boost the economy until 2018
well, this is not the first time TSLA has been down 3% and certainly won't be the last,
erthquake
Active Member
And is unwinding its balance sheet in response.
Stocks turn negative as Fed prepares to shrink massive balance sheet
The Blue Owl
Endangerous Herbivore
Also, from the WSJ:
U.S. stocks slipped Wednesday, giving back the day’s gains late in the session.
The Dow Jones Industrial Average was up nearly 200 points early on, but retreated after the Federal Reserve released minutes from its March policy meeting that showed officials agreed that they would likely begin reducing the central bank’s balance sheet later this year.
The Dow Jones Industrial Average fell 16 points, or 0.1%, to 20674 Wednesday. The S&P 500 lost 0.2%, and the Nasdaq Co mposite fell 0.5%.
According to the minutes, some Fed officials said stock prices looked high relative to some valuation measures, citing the possibility of a correction in financial markets as a risk to their economic forecasts.
The Dow Jones Industrial Average was up nearly 200 points early on, but retreated after the Federal Reserve released minutes from its March policy meeting that showed officials agreed that they would likely begin reducing the central bank’s balance sheet later this year.
The Dow Jones Industrial Average fell 16 points, or 0.1%, to 20674 Wednesday. The S&P 500 lost 0.2%, and the Nasdaq Co mposite fell 0.5%.
According to the minutes, some Fed officials said stock prices looked high relative to some valuation measures, citing the possibility of a correction in financial markets as a risk to their economic forecasts.
Yup between the Fed and profit taking. That's what is driving things down. Welcome to the roller coaster.
More beyond what already had been posted here regarding the Fed minutes. This from MarketWatch:
"There also was a lengthy discussion of the stock market, which some Fed officials described as “quite high” by standard valuation measures. Financial conditions were seen as a doubled-edged sword, either potentially providing greater stimulus from consumer spending or downside risks from a significant correction."
Also a half hour ago Paul Ryan discussing the difficulty of tax reform as reported by Reuters:
"U.S. House of Representatives Speaker Paul Ryan said on Wednesday that tax reform will take longer to accomplish than repealing and replacing Obamacare would, saying Congress and the White House were initially closer to agreement on healthcare legislation than on tax policy."
A double whammy from the government during the final hour of trading to trash the market averages and bring TSLA down with them.
"There also was a lengthy discussion of the stock market, which some Fed officials described as “quite high” by standard valuation measures. Financial conditions were seen as a doubled-edged sword, either potentially providing greater stimulus from consumer spending or downside risks from a significant correction."
Also a half hour ago Paul Ryan discussing the difficulty of tax reform as reported by Reuters:
"U.S. House of Representatives Speaker Paul Ryan said on Wednesday that tax reform will take longer to accomplish than repealing and replacing Obamacare would, saying Congress and the White House were initially closer to agreement on healthcare legislation than on tax policy."
A double whammy from the government during the final hour of trading to trash the market averages and bring TSLA down with them.
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Though guys I think we should really be happy about what happened the last couple of days : if the stock wouldn't have moved too much, what happens today might have marked an other 20+ points fall turning point.
well, i hope we have a return to 300 tomorrow. very disappointing end to a stressful day for me.
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