Same here (in AZ). This is without a doubt, the best "recall" letter I have ever received.
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Social Chat - Short Term TSLA Movements
- Thread starter Jonathan Hewitt
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Same here (in AZ). This is without a doubt, the best "recall" letter I have ever received.
I have indicated that I have been having a hard time reading the weekly option Tea leaves. Well with the FUD release 'coincidentally' a day before a big options close date (100 european car crap) I bought 230s on the dip. Got them for .65/ sold literally 15 minutes later for 1.30.
We have had a roughly 15% drop from ATH (265ish) with NO real negative news. This 'feels' like a good time to buy.
We have had a roughly 15% drop from ATH (265ish) with NO real negative news. This 'feels' like a good time to buy.
Nice trade and you did the right thing to sell a quick double.
Of course every time you sell a quick gain, it turns out that you should have held. But when you hold on and get greedy, the stock reverses and you end up losing it all.
Sooooo. I know single orders aren't everything, but right after I bought a few 240 calls for next week before the bell, someone just sold a wee bit of TSLA in one order on my thinkorswim feed. 937,143 shares -- for a total of $214,502,661.27. Sigh. Wish I could buy .76% of the company.
mershaw2001
I'm short the short sellers
Flux cap, that order of 937143 is the "market on close" order, not one individual person. It's a collection of all people and institutions that put in a market on close order at least 15 min before the bell. They settle it at the last ticker price.
Ok, so my father's Model S is now in status "Production Complete, ready for pickup and delivery". Tesla scheduled March 29th for delivery but he is going out of town the 30th and wants to push it back until he returns.
Today I convinced him that as a shareholder it is his fiduciary responsibility to take delivery on the 29th to be counted as a Q1 Delivery.
Today I convinced him that as a shareholder it is his fiduciary responsibility to take delivery on the 29th to be counted as a Q1 Delivery.
I wondered for a while why there were such seemingly large orders on closing, every day. Now I understand, at least I think I do. Makes sense. Unfortunately the more I understand, the more I realize how ignorant I am. Argh
mershaw2001
I'm short the short sellers
Auzie- I feel the same way. Doug Kass actually taught me what a market on close order was when he was claiming that tesla was going to fall hard because of the large market on close order. (If the market on close order is heavily skewed toward selling, since the price is fixed as the last ticker price, it can cause the stock to gap down the next day because market makers will fill the "sell orders" by finding someone to temporarily buy from that seller... that buyer then dumps first thing the next day).
Thank you for that extra information, it is useful to know. Now I have to think a bit more hard to understand what you said and today is my slow thinking day. Not sure that I understand how 'temporarily buy' process works.
If Kass's claim is right, I am just wondering why TSLA does not gap down every day? I think I see large market on close order almost every day on TSLA ticker on Nasdaq website. I will certainly pay more attention to how large that number is from now on. If my thinking speed improves, I might look at historical CTM and opening price numbers and establish if there is any correlation. If such data is available.
mershaw2001
I'm short the short sellers
Doug Kass was claiming that from 3 weeks ago. It did gap down a bit, to 230, before going back to 245. I don't put much stock in it (pun intended). The size of the order doesn't indicate which way it will gap- the size of the market to close order doesn't tell you the excess sellers or the excess buyers (which would gap up). In other words, don't read into it at all! Doug kass was claiming to have additional information that he knew there were excess sellers that particular day. You or i don't have access to that information so it's not worth looking at.
dmckinstry
Model X 2019
Well, when I sold some of my shares at $230 and some more at $250, I was hoping it would drop so I could buy back a larger holding. Well I did manage to buy back without any significant loss in number of shares. I just didn't have the patience to wait for it to drop to $220, which was my original target for repurchase. Since it got down to $218.26 this a.m., I hope that means the gap has been filled and it can start back up again.
@dmckinstry
did more or less the same, took some profit on a small portion at 249.50 and bought some back at 228.50, and more at 225. Overall i am convinced, that NHTSA (or whatever the abbreviation is) will give the "all clear" soon (see firmware 5.9 thread), which should give a good support, or initiate a upward trend again. Onan other note: This is definitely a stock that destroys my habit of buy and hold. The prospects in the long future look so good, meanwhile the volatility is so high, it's too tempting to play that as well.
did more or less the same, took some profit on a small portion at 249.50 and bought some back at 228.50, and more at 225. Overall i am convinced, that NHTSA (or whatever the abbreviation is) will give the "all clear" soon (see firmware 5.9 thread), which should give a good support, or initiate a upward trend again. Onan other note: This is definitely a stock that destroys my habit of buy and hold. The prospects in the long future look so good, meanwhile the volatility is so high, it's too tempting to play that as well.
Well, despite the ugly day, the only thing that's really taking some damage are my J16's. Everything else is doing alright. I'm glad I got away from short term options, so much less stress. The only short term option I'm holding now is a very green APR 240 Put
I'm just pleased with myself that I am able to weather a -5% day with virtually no emotion. I even added to my June 270's.
I'm just pleased with myself that I am able to weather a -5% day with virtually no emotion. I even added to my June 270's.
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