True. I added that as #7:
6) No competition to speak of (high end or long-range pure EV)
7) Have built-in price support of wealthy individuals (owners), and built-in price support from shorters (people who are close-minded to the idea of EV's)
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True. I added that as #7:
6) No competition to speak of (high end or long-range pure EV)
7) Have built-in price support of wealthy individuals (owners), and built-in price support from shorters (people who are close-minded to the idea of EV's)
Chickenlittle
Banned
Mario Kadastik
Active Member
Btw didn't notice it mentioned, but I see on my IB news feed that TSLA got upgraded by JP Morgan, they rose the price target from $137 to $164 
But that was pre-open so probably part of some strength at open.
And nice to see TSLA cross $251 again The UVXY calls that I bought today and TSLA together have lifted my portfolio 2% today
But that was pre-open so probably part of some strength at open. And nice to see TSLA cross $251 again
The UVXY calls that I bought today and TSLA together have lifted my portfolio 2% today 
Doug Kass tweeted this afternoon that this morning he covered some of his TSLA short position at $236: Twitter / DougKass: @edjohnson6969 time ...
He had previously announced initiation of short positions at $205, $217 & $232.
Johan
Ex got M3 in the divorce, waiting for EU Model Y!
Aren't you supposed to go short at the higher price and then cover at a lower price??? Maybe I'm confused? After all I'm just an amateur investor, not a hot shot tweeting fund manager, what do I know?
Well, yeah, if you want to make a profit. If you see that you're getting hurt, and want to stop getting hurt, you might want to cover at a loss anyway, before it gets worse.
It means that he took a loss and doesn't believe that the share price will be going down any time soon.
Jonathan Hewitt
Active Member
chickensevil
Active Member
He has money, why didn't he just buy more at the higher price? I would have thought that another short started at 260ish would have pushed into the positive with it hitting the 240s.
Probably has been schooled in TSLA, maybe he 'a going long to try and recoup his losses
Of course he'll never admit it.
pz1975
Active Member
I would guess the same reason I (and I presume most of us) didn't sell everything at 260-265 - no one knew it would drop back to the 240s (and 235 today - damn why didn't I buy more?) and thought it might continue to go up at the time.
similar to mitch's comment:
I think it means he no longer believes in the fundamentally premise of his original short, as it was clearly proven wrong (but he won't admit that of course).
Remember he actually did double down on the way up; now alas, he's doubling over instead
chickensevil
Active Member
No I get that, but he clearly bought two times on the way up. I have done the inverse of that where the price keeps going down even though you think it should be going up (FB I'm looking at you), the only solution is to keep buying and praying... Or eat the loss. While I too expected it to go up a bit more, at some point there is always a minor drop off so if you kept buying on the way up, you might be able to make it work...
Is it too soon to start averaging in new purchases?
I have to start listening to this guy's instincts... I should have bought stuff instead of posting how tempting it is. This was right around the daily low.
Guess that was it for that 10% GS correction.
Just to clarify, I do not expect a straight line to $360 but probably TSLA on route to establishing a new ATH somewhere mildly north of $265.
One speculative reason might be short covering. I've noticed that TSLA often doesn't follow the market, and I'm curious if it's because when the overall market goes down, people's portfolio values go down overall, which can trigger margin calls on short positions even if nothing is happening to TSLA itself. OTOH, TSLA going up by itself may not trigger a short squeeze if the market is overall higher as well allowing shorts to maintain their margin requirements.
Someone would have to have access to daily or preferably real-time short position data to see if it correlates this way, and I certainly don't have that type of access. But I'm curious to see if anyone else thinks this may be a real phenomenon with a stock like TSLA with such a high percentage of its float being short...
gg_got_a_tesla
Model S: VIN 65513, Model 3: VIN 1913
Boo... setup a stop-limit order at 235-225 for a small lot a few days ago (the day it hit the ATH, I think). Got triggered this morning when it opened at 234.99 and sold at 236.75
Oh well, you win some big and win some small, I guess
Oh well, you win some big and win some small, I guess
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