"Decent track record", really?
@tivoboy is a short-term trader who has missed out on much of the most profitable moves Tesla has made since the lows of 2019. I ignored
@tivoboy when he called for another 20% drop on June 3, 2019 and, instead, doubled my already substantial TSLA long position the next morning. I'm still holding those shares and they are worth millions of dollars more than they were when I ignored his fear-mongering negative commentary that we had another 20% down. It's the same story he's trying to sell us right now. Here's the June 3, 2019 post in question:
Here's the chart from the period in question, the beginning of the biggest bull run Tesla has ever seen. The vertical line is the date of the post quoted above:
View attachment 757693
Anyone can preach doom and gloom and urge caution and be right some of the time. But people who do this when TSLA is trading at $36 ($180 pre-split) are going to miss the opportunity to build big positions with minimal risk. And that's how you build wealth by compounding gains. You snatch up values like this, not wait because some negative Nellie said there was no bottom in sight and the buy point was 20% lower when he really doesn't know what he's talking about.
Prophets are a dime a dozen and all of them are right some of the time, that's the law of averages. Because stocks have volatility. This kind of prediction is based on nothing less flimsy than technical analysis. Because no one really knows. The real money is made by looking far into the future when investing capital, not by predicting it might go down 20% more in the short-term. When I doubled my TSLA position at $36.80 on June 4, 2019, I knew it
might go down 20% more but I bought anyway because I was looking at long-term value. Because there has not been a time in TSLA history when one could say it certainly wouldn't go down 20% more.
This time is no different. It very well could go down 20% from here, but I doubt it. No one really knows so avoid taking prophets under your wing. The market always looks scary when it's going down. As soon as it turns around and decides now is not the time, everything looks different. It happens suddenly. That's why taking the long-term approach is more profitable, more often, then trying to play the little moves.
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