This comment on Tesla...It would have to jive with your Sep 28th call on SP. You really think we're going to get a strong bounce even after today's action?
The point that I constantly make about ET provides yet another example here. Not a party pooper but ....... notice how a 4% upmove right after my call upset this fella indicting that he would be long gone out of the stock = there is not such thing at ET as giving a stock breathing room to wigle waffle and jive, mostly because the Capital available for trading is too small to tolerate such movements. Its a guarantee of failure or a guarantee of being forever a pauper in trading. Can't make money like this, you're in and out too quick and not given a good enough chance for a Trend to develp on the timeframe in question. These thngs can take time but once a trend gets going its just ride the horse for months/years Hindsight after 1 month of action shows how dumb it is to play for one bar!!! The only thing dumber is my Euro trade
The magnificent-e thing about TESLA is this. Its a question of respect for the Golden Ratio. Tremendous respect. We already know this company is no slouch. As for Elon, yours truly digs him but a stock is a stock and emotions have to be put aside and played technically. With that in mind watch how this happens .............. Draw grid on available DATA going from $1/share to $414.5/share. Then watch in amazement how Elon respected the 23.6%, 38.2% & 50% levels PERFECTLY The crash bottom of May 24 arrived at 50% perfectly and reversed. Therefore, it is on this basis i say that Elon cannot help hissssssself but go to 61.8% = heart of the golden Ration at $159/share Sorry Elon, its not personal
Tesla ................. having some trouble with getting the RSI indicator to show .......... RSI today cracking the trendline. Not done yet, but there is some damage. Another thing to note in RSI is the shopping divergence at the triple top at the white dashed line which is also a 61.8% retracement of the last wave down.
I can't believe you still coming back to this month old comment... ... is that Tesla is holding up much better than other tech stocks. Look at the last 2 weeks price action. Nasdaq fell for 9 days, Tesla only did in the last 3 days. I hate Elon and Tesla, but facts are stubborn things.
>>>> I can't believe you still coming back to this month old comment... <<<<< Believe it, Colonel! Its worth its weight in GOLD bullion. That thou art an oldtimer here is cast in stone. Therefore the way you think is set in solid rock that will never change not even with hydrochloric acid poured on it. Your comment tells the whole story of HOW this site known as EliteTrader thinks and does its thought-ing. Its not personal. I have zip against you and actually like you. You stood up once for a market timer (not me) - I don't forget such largesse in this godforssaken market timer killer Central called ET The message from your post is loud and clear = YOU are low capitalization, small time stock market crook, petty theft in markets amounting to a hundred here a hundred or 400 there but nothing to write home about and nothing that will ever take you out of the slave aspect of trading, almost no different than a day job in the dumbphuck world See pic for the dumbphuck workd below = 99.99% of the world
You know doodly squat about this widely and oft misunderstood concept of "holding up quite well" An instrument only appears to be holding up quite well if it then subsequently crashes because it is not finished its WAVE WORK yet. When the work is compoete it makes up for the respite and then some and most of the time by slingshotting past normal. No time for many examples here but just look at the Indian Stock Market recently. The Media pundits were going on and on stating how terrifically it ws holding up while the world was crashing and that SENSEX (Indian Market) made the dow Jones look like a bum. YOU are a descendent of these dumbphucks. Look what happened then ................ Sensex crashed and is playing catch up on the downside ....... Its as if BEAR has Sensex in a chokehold and ravishing non-stop to screal level of 50k Hz Currency called RUPEE has breached 80, then 81 ......... to the dollar. If you visit there,everyhting is for FREE for us Americanos/gringos