That's true about the rule. But with the huge rebound today there may be more short covering tomorrow than short selling, at least during the early trading. The resumption of significant short selling after a Rule 201 interruption typically occurs only with a stock that did not rebound much during the restriction.
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Short-Term TSLA Price Movements - 2013
- Thread starter Robert.Boston
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That's true about the rule. But with the huge rebound today there may be more short covering tomorrow than short selling, at least during the early trading. The resumption of significant short selling after a Rule 201 interruption typically occurs only with a stock that did not rebound much during the restriction.
Thanks, Curt, that post had me a little worried but I was hoping you would comment on it.
Bonnie, I do see what you are saying, and part of me saw it that way too.
I'm just being honest, I really think given the amount of money at stake, there is risk for Elon Musk. I'd want him to follow a protocol with these sorts of gifts a President would. It has nothing to do with the person who gave the gift. You guys did a fantastic job with TESLIVE, but I see risk in any precedent of Elon publicly drinking, eating these kinds of gifts (it seems the annual meeting has created a precedent with people asking Elon about a job). Beyond the oil and auto industry, having read absolutely disingenuous reporting designed for personal gain (quite possibly bought by hedge funds), I don't think it unrealistic that someone with destructive motives could have someone registered at this kind of event.
Citizen-T
Active Member
Shorts still could have covered today right? Just not add to their position (I'm not familiar with the details of the rule so let me know if I'm wrong on that). As such, I wouldn't expect a lot more covering tomorrow than there was today.
Indeed, the shorts could cover today. However many of them who shorted at lower levels yesterday before the interruption will be getting margin calls overnight. Others will throw in the towel voluntarily, if the the price continues to rise.
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Indeed, that is always wise for those who have risk concerns. For many it's better to buy insurance with puts (or by selling covered calls) than to pay the IRS the large tax on short term gains.
deonb
Active Member
What an awesome week so far!
Changed most of my TSLA stock to options yesterday (while it was at 112) and back to TSLA stock today. Now I have 50% more stock than I used to have - and I still have a bunch of options left.
Tesla shorts are truly the gift that keeps on giving.
It's so much easier to make money on dips like this than on a price that constantly rises. Best case scenario is to have one of these every week. Who knows - maybe selloff Tuesdays are back!
Changed most of my TSLA stock to options yesterday (while it was at 112) and back to TSLA stock today. Now I have 50% more stock than I used to have - and I still have a bunch of options left.
Tesla shorts are truly the gift that keeps on giving.
It's so much easier to make money on dips like this than on a price that constantly rises. Best case scenario is to have one of these every week. Who knows - maybe selloff Tuesdays are back!
Norse
Active Member
Post and repost of the week.
Thanks once again to Johan and for the 7th time to sleepyhead for making me change my mind on selling alot on 106. That made a hugh impact, and u two guys saved my day!
Exciting time hopefully still Ahead of us.
callmesam
Member
Elon downing wine given to him by unknown person at talk was not my favorite TESLIVE moment
If you notice, they both drank. "Me from my glass, and you from yours."
Arghh, I was just thinking that. Changing all my stock to options when it was 110 and then switching back to stock after Q2 earnings. But all my holdings are in a regular account so I would need to pay crazy taxes. If they were in a tax-deferred account, I could have added a lot of overall shares. As it stands, I'm glad I got in with Jan15 leaps while it was low, but had to use margin as all my cash is already in.
The wine bottle was cleared before he got on stage. I spoke with the lady who was responsible for my favorite moment of the event
as I wanted to thank her for that. Now Elon drinking early in the afternoon is a whole other concern :0
deonb
Active Member
You haven't met many South Africans, have you?
It's common in South Africa to have wine during lunch. When you go to your company cafeteria you can buy wine (or sometimes can get it free), you're expected to cater it for lunch meetings etc. If you go out for a team event, it's a given that the company will pick up the check for wine as well. That goes even for multinationals with corporate offices over there.
I was quite a culture shock for me when I moved to the U.S... thought I somehow ended up in Saudi Arabia at first. :tongue:
kevin99
Member
What a day again! I try not to play the short term, however big swing like this got me hooked. It turns out the long will come out victorious.
My account is ahead what it used to be at the same price level. Can't be more pleased with that!
My account is ahead what it used to be at the same price level. Can't be more pleased with that!
Acmykguy
Member
bonnie
I play a nice person on twitter.
Acmykguy
Member
That could actually make it go substantially higher.
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Mine too!
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LOVE IT!
Jouler
Member
Clearly the wine thingy is off topic here.... Personally I think there is something to be said for not living life cowering in fear, and regardless of any potential threat (however likely or unlikely in such a controlled environment, with registered guests) I think it exemplified both Elon's 'down to earth' character and the good will of the participants. It was a community building moment and if one can't see the positive energy that interaction cultivated, that's kind off a shame....
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