The bears think it's rigged when it goes up. The bulls think it's rigged when it goes down. And the beat goes on.
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The bears think it's rigged when it goes up. The bulls think it's rigged when it goes down. And the beat goes on.
racer26
Active Member
Isn't this sort of TSLA's cyclical MO though? A medium speed but fairly steady trudge upward for long periods of time, and big jabs down in a hurry, with the rest of the time trading relatively flat?
and I think it's rigged in both directions... so what's that make me?
last year it took 6 months to go from $286 to $140... and 2 months to go from $140 to $260... I'm pretty certain it's the opposite of what you're describing.
honestly... this is all probably a relic of heavy shorting... but I also have conspiracy theories on who's shorting it.
Gtoffo
Member
Always look at the whole market before judging movements. NASDAQ is down 0.3% since open. TSLA is relatively up and holding it's ground.
Shorts would need a lot of shares to drive price down against the current momentum. They might be able to manage it a bit and try to hold it down but doesn't look like they are having any luck in reversing it in any way. A lot of support after every step up.
EDIT: NASDAQ still going down now -0.41%
racer26
Active Member
At least minimally observant?
I agree its rigged, that being said, I think its at least somewhat predictable, and loosely coupled to the actual real value of the company. Lots of articles I read essentially say don't bother trying to time the market, because it doesn't matter nearly as much as the total time your money is in the market. In general, successful businesses (which comprise most of the market) grow and make money over time, independent of the noise along the way.
I think that shares borrowed pre-market were deployed after open. There was no major borrowing going on after open at Fidelity, in fact there was seemingly 198k shares returned. To emphasize the obvious, this is just Fidelity data. They are major brokerage and the largest holder of TSLA shares (so have the largest pool of shares available for shorting), but they do not define the whole market.
fyi... no reason to freak out about this drop... it doesn't affect the existing pattern unless it breaks $214 today and $216/217 tomorrow.
Gtoffo
Member
racer26
Active Member
You were saying?
Action in the last couple minutes looks like 2 big players with a hefty amount of clout duking it out - the ticks are shifting a fair bit in both directions.
I was just about to say that this looks like the noise on your pattern and the current plateau is ~218.
The 200MA is my line in the sand at this point (for short term freaking out, that is).
Jonathan Hewitt
Active Member
Not that Moving averages etc. have done much lately but the share price bounced off the Weekly BB this morning.
Gtoffo
Member
hahaha great timing I must admit. I wonder if the shorts jumped in to amplify that negativity and test resistance. Would make sense.
P.S. also remember that tesla is a high beta stock. It should always amplify market movements especially going down when investors flee riskier investments for safer harbours.
Krugerrand
Meow
hey... i only did that yesterday because my first attempt didn't line up... told the story... but the second attempt was more accurate.He can simply redraw the line to make everything fit.
Krugerrand
Meow
It's not a conspiracy if you're part of it. Or are you out of your short position now and back long since discovering the staircase?
The Model X braking before the accident happened is breaking news here in The Netherlands:
Video: Tesla reageert razendsnel op snelweg
Video: Tesla herkent ongeluk A2 en voorkomt erger - MT.nl
Cookiewall | BNR Nieuwsradio
Translation of headlines:
"Video: Tesla reacts superfast on highway".
"Video: Tesla recognizes accidents on A2 highway and avoids worse."
"Autopilot Tesla brakes before accident even happens."
Very good marketing. If this catches on to other markets/countries, Tesla could become the new "go-to" car for safety.
Go Tesla longs!
Video: Tesla reageert razendsnel op snelweg
Video: Tesla herkent ongeluk A2 en voorkomt erger - MT.nl
Cookiewall | BNR Nieuwsradio
Translation of headlines:
"Video: Tesla reacts superfast on highway".
"Video: Tesla recognizes accidents on A2 highway and avoids worse."
"Autopilot Tesla brakes before accident even happens."
Very good marketing. If this catches on to other markets/countries, Tesla could become the new "go-to" car for safety.
Go Tesla longs!
Krugerrand
Meow
I hear you, but it does go to what many believe about charting.
i've been out and long intermittently... and am left with a small short position that's recovering a bit from yesterday.
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