2017 Investor Roundtable: TSLA Market Action

[T3slaTulips]

It's funny to me how little value is placed on TSLA due to Spacex's wild success

Spacex is crushing the competition even before reused boosters are factored in.

Spacex is quickly becoming stunningly successful and dramatically bolstering Elon's net worth. Last I saw, it's $17B. It's clear to me he's gonna be the richest guy on the planet.

TSLA has Spacex and Elon as a backstop against any funding concerns

I think you mean SpaceX has Elon and Tesla as a backstop against funding concerns for ITS.

 

[brshoemak]

I think you mean SpaceX has Elon and Tesla as a backstop against funding concerns for ITS.

Part of me wishes SpaceX had an IPO and was traded (the part of me that wanted a piece of it), but the other part of me knows that they didn't need the public funding, nor would they want public pressure and scrutiny that comes along with being open to investor whims.

 

[sunhelm]

Sucks, but I just sold half my shares at 367, so I'm down to around 140%. Can't sell the rest for tax reasons. At least I made some profit off of those sold.

Edit: And up we go. This brings back memories.

Any particular reason to sell? Indeed, brings back memories of you selling at dips. Not trying to be rude but would like to know your reason. Me, I'm not doing anything, have some Sep calls that were 100% up but now are in the negative, but holding as I'm hoping for upcoming catalysts in next few weeks.

 

[GoTslaGo]

Any particular reason to sell? Indeed, brings back memories of you selling at dips. Not trying to be rude but would like to know your reason. Me, I'm not doing anything, have some Sep calls that were 100% up but now are in the negative, but holding as I'm hoping for upcoming catalysts in next few weeks.

He was at 280% holdings for TSLA. Getting it down to 140% is much more reasonable IMHO. He's not loaded with cash like TT007, at least from my understanding of their posts (they both could be BS-ing their positions on this forum, who knows).

Edit: FWIW, Hirsch in his Almanac indicates that the summer months are historically weak for NASDAQ related stock.

 

[Waiting4M3]

He was at 280% holdings for TSLA. Getting it down to 140% is much more reasonable IMHO. He's not loaded with cash like TT007, at least from my understanding of their posts (they both could be BS-ing their positions on this forum, who knows).

Edit: FWIW, Hirsch in his Almanac indicates that the summer months are historically weak for NASDAQ related stock.

and he's back in at $366.45

 

[Jayjs20]

and he's back in at $366.45

Indeed. Sold because I thought it was going to get worst before it got better (and I was right, though I should have been more patient). The anxiety of loss was getting to me. After I sold though, the anxiety of "missing out" outweighed the anxiety of seeing your money go down the pooper, so I jumped back in.

Not that I need to tell anyone here, but if it drops, it sucks, it always has the potential to rebound, so it's not permanent loss. If it drops and you miss out on the rebound, it's permanent loss.

 

[1kEE]

Not that I need to tell anyone here, but if it drops, it sucks, it always has the potential to rebound, so it's not permanent loss. If it drops and you miss out on the rebound, it's permanent loss.

And getting in and out constantly only makes profit for your broker.... sometimes it's better to sit and watch rather than keep changing positions.

Tsla is in an up trend, but it is a bumpy ride.

 

[Waiting4M3]

And getting in and out constantly only makes profit for your broker.... sometimes it's better to sit and watch rather than keep changing positions.

Tsla is in an up trend, but it is a bumpy ride.

As much as TSLA has gone up, I think there is a chance it could go down to ~$300 by late Aug. If Q2 MS/MX # is weak, and Tesla somehow doesn't make too much noise while it roll out M3s to only employees, the market could construe it as M3 ramp not going well. I'm not predicting that it will or rooting for it to happen, but just to prepare myself if it does happen so I don't panic sell.

 

[Jayjs20]

And getting in and out constantly only makes profit for your broker.... sometimes it's better to sit and watch rather than keep changing positions.

Tsla is in an up trend, but it is a bumpy ride.

Still on Robinhood, so there are no transaction fees. I haven't sold any shares since January.


By the way, for tax purposes, when selling stocks, is it fifo or lilo? If it's fifo, I may have screwed myself pretty hard just now.

 

[Waiting4M3]

Still on Robinhood, so there are no transaction fees. I haven't sold any shares since January.


By the way, for tax purposes, when selling stocks, is it fifo or lilo? If it's fifo, I may have screwed myself pretty hard just now.

On Ameritrade I can set a default tax lot method, choosing based on purchasing time or price (earliest or latest, highest or lowest). After each transaction, before it's closed, I can change the tax lot method on the particular transaction. Not sure how your broker handles this.

 

[geneclean55]

I think the default is usually fifo. You should be able to specify lots to sell if you prefer.

 

[GoTslaGo]

Still on Robinhood, so there are no transaction fees. I haven't sold any shares since January.


By the way, for tax purposes, when selling stocks, is it fifo or lilo? If it's fifo, I may have screwed myself pretty hard just now.

You could see if they allow you to sell specific lots, not just FIFO or LILO. @geneclean55 beat me to it.

 

[Tenable]

Technicals are pretty well setup for a fall. Its not that unlikely we see the low 350s. If anyone is thinking about us breaking 400 this week, I'd be a little careful about betting the farm on short term calls. I'm obviously still quite bullish, July is right around the corner, etc etc.

"Not an advice"

I hate being right since my accounts are taking a massive beating. But the flush to the low 350s is seeming more and more likely. Lower is possible as well.

Not an advice.

 

[Jonathan Hewitt]

I hate being right since my accounts are taking a massive beating. But the flush to the low 350s is seeming more and more likely. Lower is possible as well.

Not and advice.

Are you seeing that as a general support area or are you looking at a Fibonacci level? I see 50 day SMA at $333.8 and lower BB on the daily at $336.8 as possible strong supports.

 

[Tenable]

Are you seeing that as a general support area or are you looking at a Fibonacci level? I see 50 day SMA at $333.8 and lower BB on the daily at $336.8 as possible strong supports.

350s may be the support from the lows we had a few weeks ago. Otherwise, you're right on the money looking at $333. Which is why I said lower is possible. Just hoping it doesn't happen.

 

[Starno]

The thing is this pullback has nothing to do with Tesla, it's purely macro. All the tech stocks have took a nasty beating, Netflix is at -4% right now, Google -2,5 ...

So I'd say it depends of what will the Nasdaq do in the next couple of days.

 

[Tenable]

Are you seeing that as a general support area or are you looking at a Fibonacci level? I see 50 day SMA at $333.8 and lower BB on the daily at $336.8 as possible strong supports.

Miss having you in the CC, though I've stopped trading weeklies as well.

 

[FredTMC]

I think you mean SpaceX has Elon and Tesla as a backstop against funding concerns for ITS.

Yeah. I think the Govt would be wise to partially fund ITS. After all Elon is an extremely efficient use of funding compared to existing incumbent Aerospace contractors

 

[Richgoogol]

Damn it, I knew I swoop in way too early

 

[neroden]

Still on Robinhood, so there are no transaction fees. I haven't sold any shares since January.


By the way, for tax purposes, when selling stocks, is it fifo or lilo? If it's fifo, I may have screwed myself pretty hard just now.

It's FIFO, Jay. Unless you use "specified lots" (you'd know if you did).

Seriously, man, you are in over your head. Do more research (into stuff like tax law, margin rules, etc.) before trading.