deonb
Active Member
I have a limit in for $55. Let's see if it fills. The last hour on Tuesday's are generally brutal.
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Short-Term TSLA Price Movements - 2013
- Thread starter Robert.Boston
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I have a limit in for $55. Let's see if it fills. The last hour on Tuesday's are generally brutal.
Investopedia explains 'Outside Reversal'
An outside reversal is a price pattern used by technical analysts to help identify potential bearish or bullish price movement in a particular market. It occurs where a price bar falls "outside" of the previous price bar, where its high is greater than the previous bar's high and where its low is lower than the previous bar's low. In general, if the outside reversal occurs at a resistance level, it is viewed as a bearish signal; if it occurs at the support level, it is viewed as a bullish signal.Yesterdays low was $55.50
deonb
Active Member
Both Highs and Lows exceed that of the previous day. (So yes, it is an outside reversal today).
jeffro01
Active Member
Citizen-T
Active Member
Johann Koeber
Happy Owner
My fuses blew out: sold 20% and then another 20%, so now I'm down to my core holdings of TSLA. No more overweight.
I will stock up more if the price goes down much more. Exaggerations usually go both ways. 55 Is just a bit too high for me, right now.
I hope you don't have the limit at 55.00. Here is why: 55.00 is a typical resistance level. What TSLA will do now is either break through it (bad sign) or bounce off it (good sign). People knowing this and expecting it to bounce off will place their bids slightly higher (say 55.03) to get filled before everyone who put in 55.00. Now, this turns into something of a bidding war, so someone will be waiting at 55.11, someone at 55.14 and so forth. These people will get their orders filled in both the good scenario (bounce) and bad scenario (break through 55). Someone with a limit order on 55.00 only gets filled in the bad scenario. So that is not a good bid.
Sorry if this was known, obvious and otherwise insulting.
PS: I expected the stock to bounce really hard, so I put in 55.34 to be on the safe side. Even though that looks like the bottom on the Google Finance chart, I believe I saw orders fill as low as 55.16 for a few seconds there.
ShortSlaver
Member
Yup! It's a healthy bounce back and who knows where it ends up. I'd like to see as much potential upside as possible going into the call and have used today to fortify some positions as things were cheap today.
It's hilarious to read how many people are doing the classic sell low, buy hi thing. It never fails to amaze me when people bail out when things are headed the wrong way, especially when the news is insanely good.
It's an over reaction to and over reaction yesterday and we've seen this with TSLA often lately - especially on Tuesday.
Anyone who sold while it was riding into the early $60 I could understand - it was breaking new all-time highs and not always a bad place to get out (heck, I sold a small holding of May 60 C's and rebought new calls a bit later, pocketing a nice profit). But selling after it has bounced off? This is why most people lose money.
This is a buying opportunity today.
I used this little drawback to increase shares in TSLA
cost averaging to 42 and will stay long
Following TSLA over the last few months, I am beginning to recognize a masterful choreography behind this procession of announcements.
Every week brings more evidence of the skill in timing, planning, and execution, that TM continues to show (even in adapting to and responding to mistakes).
Tesla is always in the news and public awareness grows without advertising. Even taking advantage of adversaries such as Broder or JP!
1Q earnings and conf call will look better than the preview offered in early April.
Coming up will be Supercharger announcement, and then what's "right under your nose."
Summer will really open up the playbook, IMO. Then European deliveries begin, then in Asia.
And if the Consumer Reports review in the July issue really proclaims the Model S as "the best vehicle we have ever tested," then its likely going to get very interesting indeed!
cost averaging to 42 and will stay long
Following TSLA over the last few months, I am beginning to recognize a masterful choreography behind this procession of announcements.
Every week brings more evidence of the skill in timing, planning, and execution, that TM continues to show (even in adapting to and responding to mistakes).
Tesla is always in the news and public awareness grows without advertising. Even taking advantage of adversaries such as Broder or JP!
1Q earnings and conf call will look better than the preview offered in early April.
Coming up will be Supercharger announcement, and then what's "right under your nose."
Summer will really open up the playbook, IMO. Then European deliveries begin, then in Asia.
And if the Consumer Reports review in the July issue really proclaims the Model S as "the best vehicle we have ever tested," then its likely going to get very interesting indeed!
I don't think we ever had one. The massive run up in the last hour yesterday and then the high start we had this morning made me wonder if something big was kicking in, but it's just some sort of oddball blip I guess.
Norbert
TSLA will win
Doesn't look like the shorts are gone yet. Maybe that was a bit of a squeeze yesterday, but the grand short-covering hasn't happened yet. Still upcoming.
Once there will be signs of continued demand (soon), their next "defense" will be the claim that Tesla won't make enough profits to finance Gen III. However that sounds like a much weaker position than the demand claim. So unless the shorts are in it just to "fight" the idea (as opposed to making profit), I'd think that something much larger than yesterday will happen, to the degree that assurance of continued demand is established on verifiable facts.
Once there will be signs of continued demand (soon), their next "defense" will be the claim that Tesla won't make enough profits to finance Gen III. However that sounds like a much weaker position than the demand claim. So unless the shorts are in it just to "fight" the idea (as opposed to making profit), I'd think that something much larger than yesterday will happen, to the degree that assurance of continued demand is established on verifiable facts.
Mostly I'm a buy and hold kind of guy and hate worrying about timing. But with the huge jump at the end of the day yesterday I couldn't resist selling some about 30 seconds before the close (first time I've sold any since I acquired it last October). I just bought it all back and more at 55.6. I do my own taxes and manually enter all my stock transactions to keep me from trading too often. :smile:
ShortSlaver
Member
Right, but this exact same pattern happened last week too, as it would happen from Monday to Tuesday.
Last Monday the stock opened at $51.76 and closed at $54.94, essentially the high. It opened the next day at $56.00 and jumped to $58.18 before crashing hard to $53.99, on really high volume.
It's volatile and there are a lot of forces. I'm OK with a pullback after yesterdays move and with the EC tomorrow after close.
ShortSlaver
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