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Word is coming out that Comey has been asked to testify to Congress next Wednesday, and the indices took a pretty big nosedive after this news broke.
Comey invited to testify in House on Wednesday
Comey invited to testify in House on Wednesday
The market (and TSLA) are down because of uncertainty about a possible Trump impeachment. Getting emotional and bailing out now is more likely to be an emotional move than a rational one, unless you know some more detail about the political situation than we all do
.Yes, it could get worse. But at this point the market is pricing in more uncertainty, and it's nothing to do with TSLA. Maybe tomorrow they'll start impeachment proceedings, and (believe it or not) that could even rally the stock price. Or maybe Tesla/Elon will announce/tweet something and TSLA will move against the market. So sucking up your loss now might not be the right thing to do. As of now, they will still expire worthless on Friday, which is your desired outcome, unless TSLA falls further.
This is not meant to be trading advice since I'd probably do what you're contemplating too... that's why I don't get into these situations.
ValueAnalyst
Closed
I'm sure most people here already know this, but on days like this, it's important to set aside political views and keep in mind the distinction between market price (what you check online every 5 seconds) vs. intrinsic value (present value of discounted cash flows). The former is a lot more volatile than the latter, and this can be used to a long-term investor's advantage.
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I just dumped the rest of my tax return into this stock.
In the long run, if we're expecting TSLA to hit Apple/Amazon/Google-levels, I don't think it'll matter if I buy in at 305, 315 or 325.
In the long run, if we're expecting TSLA to hit Apple/Amazon/Google-levels, I don't think it'll matter if I buy in at 305, 315 or 325.
yeah, im holding tight, but if it doesnt settle down tomorrow, ill have to bail simply cause i cant afford the puts be exercised at close friday.The market (and TSLA) are down because of uncertainty about a possible Trump impeachment. Getting emotional and bailing out now is more likely to be an emotional move than a rational one, unless you know some more detail about the political situation than we all do
Yes, it could get worse. But at this point the market is pricing in more uncertainty, and it's nothing to do with TSLA. Maybe tomorrow they'll start impeachment proceedings, and (believe it or not) that could even rally the stock price. Or maybe Tesla/Elon will announce/tweet something and TSLA will move against the market. So sucking up your loss now might not be the right thing to do. As of now, they will still expire worthless on Friday, which is your desired outcome, unless TSLA falls further.
This is not meant to be trading advice since I'd probably do what you're contemplating too... that's why I don't get into these situations.
Remember the days following 9/11? I do. Luckily I was too involved dealing with client crises so I ignored my own rampant fears. My smart colleague bought three apartments in Battery Park City during the following weeks.
Today is mild, the sort of modest overreaction that hits every indeterminate bad news. The mistake will be seeing this through any given political lens; that will make it worse! I quit looking just to avoid overreacting myself.
if this follows 1973/74 there will be more great buying opportunities (watergate)
AntronX
Member
I always keep a little bit of cash for that kind of occasions.
Don't know what happens tomorrow (rally?), but as a high beta stock TSLA did just fine today. Should have been down more. It did track the indices almost perfectly so this is all macro in the end.
Reciprocity
Active Member
GM and FCAU didn't do much better either. (F was better)
I'm dollar cost averaging this dip. Spent half my money on DIM LEAPS today. If it is dropping again tomorrow morning, I will try to wait a little, and then buy more when it looks like the bottom. If it looks stable and starts to go up, then I will jump in with the rest. I love buying opportunities, regardless of whether they come from misguided analysts, or macro events like the Dems going after Trump.
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