Lost in the mail with Trump's Fordham and UPenn transcripts.
TSLA Crashes to $5 per Share
- Thread starter Rams Fan
- Start date
Lost in the mail with Trump's Fordham and UPenn transcripts.
It depends on how it bounces but there is a lot of overhead resistance around $200. We are not day traders so we have lots of time. I actually don't see TSLA going crazy.
Trends change when you get higher swing highs and higher swing lows. TSLA hasn't done that for over a year.
I ask what's the downside?
If I buy now the probabilities are that it continues down.(I'm not making any money)
It could go sideways for quite a while. (My capital is tied up not making any money)
It goes up, I wait for a trend change and make a buck.(No downside)
If I don't buy then the downside is I miss an opportunity but opportunities are like busses there usually another one coming.
I'm usually looking for stocks making new highs. Noboby waiting to get back to breakeven.
Tough market to find new highs, and the expectation is for a bleaker 2023. I'm just thankful I'm able to wait this out.
They are out there. I'm heavy in cash but have a few positions. None of them in the red.
This rally out of October was accompanied by very few sound bases. This is the weakness of the CANSLIM/IBD approach. I saw a bunch of good swing set ups, but none that fit what I look for as long-term pulls. On fintwit the CANSLIM crowd got hot and heavy into the same names, AETH, SMCI, ENPH, MEDP, IBKR. SMCI was the best of the bunch and the only one that was making new ATH's during the rally. The others were simply putting in double tops.
What we need twelve weeks or more down in the general market to allow the stocks that will lead the first part of the next bull to set up into sound bases that break to new ATH's as the market turns.
FWIW, TSLA will never lead again, or, if it does, it will be 10 to 20 years down the road.
The Era of Megacap Ameritech leading is over for now, and for at least a decade. The next bull market will have completely different leaders.
The problem with CANSLIM right now is the "M". As long as SPY is below the 200 day you might as well stay out of the market.
I have a few positions that I picked up because they were making ATH's. FSLR, ELF
Tight stop and small positions and we'll see how they do when the trend changes.
I agree the next leaders haven't shown up yet.
That might be a mistake!As long as you agree with me I won't have to block you.
I believe AMZN lost 94% after the internet bubble popped.
If TSLA does the same, it will go to $25, back to near the covid lows made just a few years ago.
I think that is the lowest price it could test, however there are a few higher support levels before that where it could bottom like $130, $100, $60
If TSLA does the same, it will go to $25, back to near the covid lows made just a few years ago.
I think that is the lowest price it could test, however there are a few higher support levels before that where it could bottom like $130, $100, $60
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Did anyone vote in the Twitter poll for Elon to be step aside? I don’t Twitter much so I missed out on history.