This is the problem with selling when you think there is a short term high and expect it to drop.I sold TSLA durring the S&P 500 entry.... Thought all the gains were priced in due to the 50% run up.
I am having a hard time thinking I can still buy back in (although with allot less shares)
Actually it did drop (to $630), not as low as I thought, and I got side tracked with a remodeling project gone wrong and didn't get back inThis is the problem with selling when you think there is a short term high and expect it to drop.
What happens if it doesn't drop? Or it drops slightly but not to the level you think it should? When do you buy back in? Can you buy back in if the SP is higher than your sell price? And what happens when the SP runs up 25% higher? It's a hard psychological barrier to push through. Very natural.
The biggest investment mistakes I've made are (1) selling a good stock too soon to lock in profits, and (2) not buying stocks because I think they are overvalued.
So buy, hold, buy more over time, don't stress, enjoy your rewards.
WTF am I going to do with 3 Roadsters?????
Tesla's S&P 500 Inclusion Part 2: Predicting the transformation of the TSLA float
@FrankSG nailed this analysis... he predicted SP had chance of > $800 back in November.. i need to remind myself that the TMC forum analysis is always way ahead of the market ...
it is truly an honor to be part of this "virtual investment club" ... the work submitted here is second to none and those who have invested their time here have reaped some pretty handsome rewards ....
now back to work ...
EDIT : for SP context TSLA closed $567 at the time of @FrankSG post on 11/30/20
Actually it did drop (to $630), not as low as I thought, and I got side tracked with a remodeling project gone wrong and didn't get back in
Just woke up, wondered why the price was up so much. Read 20 pages of unread posts here. Not a single one of them answered my question. Imo way to much OT recently...
So why did the price increase 9% today?
Well staying in to me would have been greedy too, then people would say WTF is wrong with you for not getting out had it gone the other direction.. I had some pre-split shares for $180 last year which is equivilant to $3200 each, which seemed like a good time to sell...Please. It spiked from $658ish right at close to the crossing price of $695 and immediately returned to $658ish the next day. Unless you were here and reading about this event in detail and knew to sell with the proper choice, you missed the high. It then went up and down a bit and hit a low of $620ish. That’s a lousy $38ish difference. You’re going to risk being caught out of this stock for less than $40/share IF you hit those points?! Really? You playing with tens of thousands of shares? That might make it worth the risk to be out the stock. Oh, wait. What’s the price now? Um, no. Not worth the risk.
Today I made the mistake of reading the comment sections on several articles about Elon Musk being the richest man in the world. It was staggering the amount of ignorance about Tesla and Elon, in addition to overall malice towards an American company trying to help the climate crisis. Everything was: that bubble, that PE ratio, they only sell x amount of cars compared to other car companies, I'm going to short them, it's all a scam...
It made me really thankful for this forum and to share in the views of rational people that understand what is really going on.
I used to think Elon wouldn't pass Jeff Bezos' net worth until after SpaceX went public. LOL.Having your CEO be the richest person in the world is great advertising for the stock. I think that's the main reason we were up so much today. I expect he'll remain the richest for the rest of his life and TSLA will continue to benefit.