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Social Chat - Short Term TSLA Movements
- Thread starter Jonathan Hewitt
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Just another buying opportunity here. Longs like myself absolutely LOVE days like these. But for those interested in charts, see attached fibonacci retracement. the 78.6% resistance level coincides with the 200 ema on the weekly chart as well. I'm looking for $162 to be the absolute lowest potential buying opportunity.
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Well, barring some miracle later this year, my TSLA investment is a complete loss. I had taken the rolling LEAPS plan, buying J15 $300's a while ago when TSLA had dropped down, averaging purchases around when it was $220 overall. While I thought TSLA might drop some from $220 and hitting $200 on little news didn't overly scare me, this massive drop after a good Q1 wasn't something I had envisioned at all. I bought a few times on the way down and I'm out of money to leverage down.
In pre-market, we're back below the old ATH we had before last year's crash.
In pre-market, we're back below the old ATH we had before last year's crash.
FWIW, my plan has appeared to work so far. I just sold some very ITM puts for 200% gain. The proceeds from this have almost perfectly offset the loss in my calls and J15's. It's not ideal, but I'm happy with how I've managed the damage so far and I now have cash on hand. What to do with it though...
Shoot, I tried to buy something, I still have the limit order out there. But right now I am nowhere near it.
Thanks. Had I been ballsy enough to exchange the puts for calls, <at this moment in time> I would have been laughing all the way to the bank. Unfortunately, right now I need either find a funnier joke, or a closer bank.
Since many hundreds (or was it over 1,000) of last minute deliveries to Norway at quarter end proved to in fact be what saved Tesla from a disastrous quarter, do you feel different about your comment above?
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Citizen-T
Active Member
Proud owner of some shiny new LEAPs right here. Basically the bet is that TSLA is above $265 (the previous ATH) before Jan 2016. Seems like a pretty safe bet to me.
Citizen-T
Active Member
Not J15?
Oh, I fully expect we'll see $265 again before the year is over. That's why I think it is such a safe bet.
Muskol
Member
I went on a LEAP shopping spree today as well, including J15's. The conference call gave me plenty of confidence to pull the trigger. Breaking ground on the Gigafactory next month? That just blew me away...
hockeythug
Active Member
mitch672
Active Member
So this drop obviously sucks and there's no reason for it (not even a bad reason for it), but I have to say I'm a lot more fine with it than the last one(s). The stock is still extremely high compared to all my entry points, all my non-speculative plays are still doing fine, and I managed to sell enough to cover most of my debit at the top (and since have gone into a little more debit on the way down ). I'd like to see a 10% recovery or so in the next 2 weeks, but if that doesn't happen then I'm still not out all that much.
Now I need to decide if/when I want to become a buyer again, and it's looking pretty attractive right now, but I would have to use margin to do so. Either way, I've got a ton of margin left, and shouldn't have to worry about a call unless we have another 50% drop or something.
Also, this ER, just like Q3's, was very positive, and the call was phenomenal. Everyone just seems to be reacting to the headlines, and to the stock price, rather than what was actually announced. So I feel like this is another temporary drop with no good reasons behind it, just like q3 was, only this time we hopefully won't have months of the entire mass media trying as hard as they can to make the drop seem justified by making something out of nothing.
Unfortunately I don't see analysts upgrading their PTs, because most of their PTs are already set fairly appropriately, but maybe one of the few remaining loser analysts might get it together and give a real PT with a real research report for once, kind of like Goldman finally got around to doing last time around. I also don't see anyone downgrading, because there's simply no bad news and plenty of good news.
). I'd like to see a 10% recovery or so in the next 2 weeks, but if that doesn't happen then I'm still not out all that much.Now I need to decide if/when I want to become a buyer again, and it's looking pretty attractive right now, but I would have to use margin to do so. Either way, I've got a ton of margin left, and shouldn't have to worry about a call unless we have another 50% drop or something.
Also, this ER, just like Q3's, was very positive, and the call was phenomenal. Everyone just seems to be reacting to the headlines, and to the stock price, rather than what was actually announced. So I feel like this is another temporary drop with no good reasons behind it, just like q3 was, only this time we hopefully won't have months of the entire mass media trying as hard as they can to make the drop seem justified by making something out of nothing.
Unfortunately I don't see analysts upgrading their PTs, because most of their PTs are already set fairly appropriately, but maybe one of the few remaining loser analysts might get it together and give a real PT with a real research report for once, kind of like Goldman finally got around to doing last time around. I also don't see anyone downgrading, because there's simply no bad news and plenty of good news.
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