I closed half my -C190 for next week on this dip.
Hopefully that was a smart move....
Market just isn't paying attention. We are 4 weeks from the IRA kicking in for US sales.
Setting massive records in Europe and China.
I'm in the Twilight zone....
Playing devil's advocate, maybe the market is trying to price in a lower P/E because of the China price cuts and production cut rumors. Yes we are setting record sales but if you think about this objectively we reduced prices in China and US, there's rumors about a potential production cut(I trust Rob so wouldn't put it here if it did not come from his source).
Again this is short term noise and long term we will be fine but it's also important to look at the negatives since we use this information to trade short term.
IMO we will continue to drift lower or be range bound until Jan 2nd or 3rd when we expect to see P&D numbers. Even great numbers might not save us as the market will be worried about ASP and impact to margins. So really the earnings report could be the real catalyst if TSLA can show good margins despite the price cuts. I don't see any other catalyst on the near horizon.
BTW Dan thinks 183(10 day SMA) is a key level and if that breaks we could be looking at low 170s this week. I'm hedged with CCs and long puts.