2017 Investor Roundtable: TSLA Market Action

[GoTslaGo]

It's just eating a little into my massive amounts of gains so far. It's scary, yes, but logical.

That said, fingers crossed for an end-of-the-day miracle.

May I suggest you look into a book: McMillan, Options as a Strategic Investment. Look into the section on LEAPS. I don't know how it would work with margins, but the basic premise is you take profits, and buy LEAPS to participate in the future upside, while limiting your downside risk.

IMHO, 280% is just super risky. @Jonathan Hewitt or @Papafox have great posts about trading LEAPS strategies.

 

[luvb2b]

and then nvda dropped another 6 points. basically this was a flash crash.
amzn especially, nearly 100 pts from high to low.
but some of the other tech names look pretty bad too.
the market put up a good bounce of the flash crash low just now but hard to believe this is "the" bottom with the vix at 11.

and um, nvda has dropped another 5 points. wow nasty sell off there.

 

[SBenson]

Nasdaq Megacaps Go Careening Off Course

Provides some commentary and data points on what's going on.

 

[mmd]

At this rate, today could be the highest volume in almost a year, since the SCTY announcement on 6/22 2016, the next highest one was after Q1'17 ER, 14.9 M shares, we're at 14.3M now.

15,501,794 already. Is this the breakdown people talk about? High volume , large price drop.

 

[Runarbt]

15,501,794 already. Is this the breakdown people talk about? High volume , large price drop.

Breakdown? Down 3% from yesterday, a new ATH after weeks of only green is hardly a large pricce drop?

Hardly a breakdown. A long coming consildation imo, helped on by macro.

 

[baudwalk]

Silly NASDAQ. Silly TSLA lemmings heading for cliffs. Scraped together enough for another 100 shares at 358.15 a few minutes ago. Giddyup.

 

[Starno]

Nasdaq Megacaps Go Careening Off Course

Provides some commentary and data points on what's going on.

" Accounts of what spurred it ranged from bearish tweets by a short seller to a cautious note from Goldman Sachs Group Inc. "

Goldman Sachs always f*** everything up

 

[Richgoogol]

All in all a fantastic week, I'm pretty satisfied.

 

[moe.salih]

Short interest updated: TSLA Short Interest

 

[UnknownSoldier]

" Accounts of what spurred it ranged from bearish tweets by a short seller to a cautious note from Goldman Sachs Group Inc. "

Goldman Sachs always f*** everything up

I hate that b*****d Goldman!

LOL

 

[LargeHamCollider]

Highest volume since 6/22/2016.

 

[AlMc]

Perspective: We gave back about $15 in SP after being up only over $100 in the last few months.

I personally blame CITRON with the early day suggestion that NVDA was overvalued (which it may have been). At that time TSLA and NVDA were up. That seems to flip the down switch. Add sector rotation, Goldman comments, Apple putting in a 'slow modem' in the '9' and the NAZ gets beat up a bit.

Next week will be interesting. Consolidation? More pain or back to rising SP.

This seems like nothing new for TSLA. Just when you think you have 'clear sailing', the s**t hits the fan.

EDIT: Oh, and I think someone posted poetry early this AM

Be well, grab a beer, see everyone Monday

 

[Jayjs20]

May I suggest you look into a book: McMillan, Options as a Strategic Investment. Look into the section on LEAPS. I don't know how it would work with margins, but the basic premise is you take profits, and buy LEAPS to participate in the future upside, while limiting your downside risk.

IMHO, 280% is just super risky. @Jonathan Hewitt or @Papafox have great posts about trading LEAPS strategies.

I will look into it, but at the moment, my current broker only allows me to buy and sell actual stock. At the moment, I can't sell the stock and jump to a different broker due to tax reasons. I'll be able to do so maybe a year and a half from now essentially tax free, so I'll switch to a different broker then.

 

[MXWing]

1.) Elon Musk still alive?
2.) Model 3 on track?
3.) Huge short float?
4.) Apple and Amazon shareholders just as miserable as us?

Could be much worse!

 

[Tslynk67]

Hardly a crash, but just remember, you only lose if you sell when you're down...

 

[MikeC]

I will look into it, but at the moment, my current broker only allows me to buy and sell actual stock. At the moment, I can't sell the stock and jump to a different broker due to tax reasons. I'll be able to do so maybe a year and a half from now essentially tax free, so I'll switch to a different broker then.

I think you should be able to transfer your shares from broker to broker and keep the same cost basis. You're not required to sell the shares and transfer cash.

 

[MXWing]

Hardly a crash, but just remember, you only lose if you sell when you're down...

You are technically correct but many here are options and leveraged so pain index is a bit higher unfortunately.

For the past month, Tesla has always bounced off 2% dips even intraday, so a 4% dip is historic for recent memory. Let's see what happens Monday.

Shorts going to pile on some more?
Use the lull in action to escape the siege of Shortville?
Deep pocket longs coming in to buy off the dip?

 

[austinEV]

Well, General Bollinger rules again: Note what today did to the weekly:

Pushed it down to the upper BB. Oh well, still a banner week. We would have killed for a 357.32 close on Tuesday.

 

[winfield100]

Nasdaq Megacaps Go Careening Off Course

Provides some commentary and data points on what's going on.

@SBenson
Short interest out for 5/31 30,960,687 so not horribly off your ~29.879 (and still dropping?).
If you look at A/D line of last 3 days massive cumulative selling of ~2.1 million just today
is that a coordinated bear raid? like 17.2 million traded today.
I go to lunch and am -$7,900+, but in last two weeks up much more than that. equanimity can be challenged at times.
(i calm myself by playing Jeff airplane "Wyld thyme" at 11, w/xtra bass, reverb, and fractional time delay to blue toothies)

today........

 

[Jayjs20]

I think you should be able to transfer your shares from broker to broker and keep the same cost basis. You're not required to sell the shares and transfer cash.

I'm using Robinhood right now for the free transactions. On their site, they say they don't support broker to broker transfers right now, but intend to add it in the future.

If you think this is bonkers, you're not alone, so I do. Luckily, this is all excess money to me. That doesn't mean I want to lose it, but at the moment, I don't see any immediate risk unless the SP somehow falls under 322 and I get hit with a margin call.