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Here's what I think is going on. At open, we saw over 300,000 shares trade in the first minute, which had an upward influence on the stock price. I think most of this buying was shorts closing positions to lock in gains. The first and last minute of trading every day is normally a good opportunity for buying without pushing the stock price up.
* Next, shorts pushed to see how low they could take the stock and see if they could generate fear in the longs. About 10:22am TSLA bottomed out and then enjoyed a quick run into the green
* Shorts went to work controlling the damage. They sold enough shares to barely depress TSLA into the red and then began a slow walk-down of the price
* Slightly after 12:30pm, shorts lost control of their slow walk-down and the stock made a dash to the red/green line where phase two of the "whack the mole" game by the shorts took place and TSLA started descending again
* At about 1pm, the dip stopped and shorts worked to cap TSLA below 313
* At about 1:45pm, the cap failed and a new cap began to hold/push TSLA below 315
And so that's where we are now. If shorts lose control of the 315 cap they will likely go back to "whack the mole" and expend the resources to keep TSLA from running into the green. Remember that shorts are likely doing 55-60% of the trading today. The shorts continue to probe for weakness and will take advantage of it if they find it.
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