There was no thesis for shorting the market today at all, unless intraday. Even my dumb (but fairly accurate) bot was buying SPY every 5 minutes, so I followed and was buying a bunch of bullish options.
It will like every high flying stock does, it will not be pretty at all when tesla shares fall over 50%. These types of trades do not last forever especially with a PE of 1200+++++ Most of tesla gains (over 125%) were on the back of the split announcement and being added to the s$p 500
Being added to S&P will soften the fall when it comes .... unless the S&P falls as well. Which is a distinct possibility - one of these years. In the meantime "sky's the limit"
Chanos and his short, a trillion used to mean real money, now it's just a number on the screen, a piece of paper, whats after a trillion? a long way up...
You believe the above two topics were the reason for the market’s move in the last hour or two on Friday?
You know what, I don't understand that move at all. There was no news reason for it. I am not sure how the S&P re-balancing for funds is supposed to work but I would doubt very much that they would all do it at the end of Friday - that is too predictable and works against them.Those huge 695 trades - did the funds really screw themselves by buying 3-4% above market?