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Today started out with 115,000 shares being sold in the first minute of regular trading. This selling does not make sense for a long reducing holdings. Nonetheless, after the mandatory morning dip, the stock topped $198.50 about four times in quick succession and then another time about an hour later. Sell orders being triggered do not make sense and therefore this work looks like capping behavior. A slow decline going into the afternoon was followed by a steep dip during the final hour. The NASDAQ did not share the slow decline in the afternoon but the steep dip near end of trading was present on the NASDAQ, too. The steep NASDAQ dip in late trading might carry over into trading on Tuesday.
Overall, I think that if you consider the incredible selling during the first minute of trading, the stock did fairly well in the morning. Buyers continue to come forward. The green plateau in after-hours trading is a purchase of 7200 shares. Again, we are seeing buyers more plentifully than before.
Overall, the shorts appear to be demonstrating morning dip, capping, and afternoon downward sloping selling, but these shares must have come from IB because Vgrinshpun's data from Fidelity shows light covering. A drop in interest rate for shorting at Fidelity also hints at less demand for short shares, which is interesting.. Shorts continue to get less results for the buck, compared to three weeks ago and further out.
Conditions:
* Dow down 54 (0.28%)
* NASDAQ down 30 (0.56%)
* TSLA 196.12, down 0.53 (0.27%)
* TSLA volume 4.4M shares
* Oil 46.7, down 0.38 (0.81%)