The market is far more interested in forward looking data. TSLA down today is matching the market, which might be a bummer for covered call sellers, since our volatility continues to decline. Good news for leaps buyers, since volatility is down and the odds of TSLA rising over 2 years is pretty solid. The odds of Tesla having a great quarter are pretty solid as well, but there are huge macro issues concerning Covid, election stability and future pandemic relief could be delayed until 2021. The Bush admin partnered with incoming Obama admin to push forward recession relief. It may not have been the best thought out, but it was like Starlink, better than nothing beta. If Trump loses, I don't see lame duck congress or admin helping push forward relief. If Trump wins, relief would likely be smaller than Dems want and more targeted to big business, like coal miners, frackers, airlines, and cruise lines.
I wish I had more dry powder to buy, but I think I'd wait to see what happens after the polls close. Long term, the fed will keep pumping and that will lead to asset inflation, even while productivity continues to drive down the price of good and services. Until the pumping stops, which the fed will signal months in advance, the market will continue to rise. *I'm not judging the process, but the fed sees few options outside of pushing the market to help maintain the economy. It would be interesting if they would expand their comfort zone and buy up credit card debt in a deal with the banks to reduce credit card rates. That would help sustain the economy more than propping up American Airlines or the fossil fuel industry. (sorry for OT at the end there).
