Been a very busy day, and can’t chat much on discord for a while.
So I’ll lurk here in the forums whenever possible.
I’m starting this new thread since I don’t want to add to my older 25% Satisfaction blog anymore.
That one achieved its goal in helping me reach discipline and also forced me to develop/find my own preferred trades.
This one will be mostly musings whenever my skull doesn’t want to stop thinking.
Right now, I’m thinking Tesla, TSLA.
Rexxxar Autism VS Elon’s Autism - TSLA to 300
Back in December 1, 2021, I made this bold statement…
“TSLA to 700”, after checking its chart and trying all the wishy washy magic tools of Fibonacci.
I really thought it should go down hard, time was the only factor in question.
“Pride comes before the fall” is the simple version of that Biblical verse, Proverbs 16:18.
I experience it myself form time to time, so I know it’s weight.
Elon has become too proud for his own good and the others who work with him.
The guy even wants to be officially labeled as the “founder” of Tesla.
I don’t know about you, but that’s crazy in my book.
This latest stupid display of wealth on acquiring Twitter is the loudest signal of TSLA’s grand stock sell-off.
It will be magnificent.
TSLA to 300…
400 is the stronger possibility, but something autistic within me keeps eyeing 300 against this autistic ticker.
Earlier this week, I bought a put against TSLA and saw it reach over 30% in gains in just a matter of minutes.
I didn’t sell, because I felt ecstatic.
See? Retarded right there.
Held that position overnight and even added 4 more contracts to average down, while the stock moved up to 669. That was my pride working against me.
Yet there is something here. An idea. Let me explain it to myself again, real quick.
- TSLA has a gap on the downside, which is at the 433-412 channel. This was from the gap-up of Nov. 16, 2020.
- For individual stocks, gaps do fill–time is the only factor. Obviously they have to remain listed on the market.
- On March 18, 2020, TSLA crashed down to 70.10, along with the broad market, due of course to the Covid-19 pandemic. I’m using this as the base for the Fibonacci Retracement tool.
- On August 31, 2020, Tesla had a stock split. Any gaps prior to this date can be dismissed, imho.
- According to the retracement tool, -78% is near 320.69. You can’t make this stuff up. Truly retarded signs.
- Usual sweet spots for rebounds to consolidation are 0.5, 0.6, and 0.75, so $300 is a mark of interest for me.
- Notice the Triple Top pattern.
- Notice the 48day (yellow) Moving Average line crossing under the 200 MA (red).
- Notice the consistent rejection at the 13day line (green). These are all signs of weaknesses.
- Float is only 855.157M, so it can move with the weight of its sentiment. And for as long as Elon The Ghruyt keeps hugging that hot spotlight, sentiment from both sides will remain strong.
- Tesla’s volatility will remain high, even after it’s crash to 300. I would argue it will only increase at that price.
But my game against TSLA stock is on.
I will be positioning my hundreds of dollars (only max of $900 of course) against Elon’s billion dollar darling.
*TSLA touched 617.54, this past Wednesday, May 25, 2022. It will be retesting that soon–and will ultimately break.
*Next real level to test and break will be 539.49, from March of 2021.
*I’m looking for it to possibly try for 760, before moving back down with speed again.
Will start with 1 contract and average down as necessary.
I’ll be looking at a monthly position to build on, July or Aug perhaps.
Possibly 500p, 450p, or 430p.
News:
THIS IS NOT A PLAY CALLOUT.
THIS POST IS A BRAINDUMP.
I keep my callout contributions to the Community Callouts thread.
