While it is unusually quiet here today pre market I would like to say something for I usually just observe.
I would like all the key players here, Citizen T, Dave, Kevin, Mario, tesladopt, fluxcap, et al (yes I missed some of you)to know that their posts, opinions, insights etc. are appreciated. Please don't get discouraged and leave, you are appreciated.
Sorry if I wasted anybodies time.
You have nothing to be sorry about. We benefit from the questions, comments, and insights of the newcomers just as much as you benefit from anything we have to say.
I don't like the way that TSLA is behaving right now, but I have to believe that the sellers are getting tired. I think we've lost institutional and momo trader support at this point. Institutions are probably waiting for the quarterly report so that they can re-assess the valuation, and momo traders are probably waiting for the institutions.
Without this support, there aren't enough buyers to offset the huge losses we are taking on things like the fire, debt ceiling, and downgrades. We need to get some momentum going again if we want to recapture the ATH. Right now the 50 day moving average seems to be where the buyers are (about $169.40 today) but they haven't done a spectacular job of holding their ground (i.e. I don't know that there are a lot of them). If we lose the 50 day, I'm not sure where the next group of buyers are hanging out.
Sorry I don't have something more positive to say. Just keep in mind that we need to see $169.40 defended today. If you have cash left, I'd probably sit today out and let things play out a little more.