Thinking about putting Tesla (TSLA) on autopilot? Watch this video first. (October 17, 2016)
TSLA
I want to talk about Tesla ( NASDAQ:TSLA ). Here is the thing: Be careful about this stock. I wouldn’t want to be long this stock. I am tempted to tell you to short it, but I just can’t do that, because I wouldn’t do it myself. I told members several tens of points ago that I think Tesla ( NASDAQ:TSLA ) is a screaming short long-term. But I can’t do it because of the volatility. The stock is just too volatile, it just goes all over the place and then that just kind of puts you up against some fundamental argument. I don’t like Elon Musk, I don’t trust him. I think that anybody that spends so much time blowing up rockets trying to go to mars isn’t really thinking too much about his car company, and I am just getting started on that but I am not going to finish it. The bottom line is, I think this guy uses this company as his own little private make the world a better place engine, which is fine, just not for me.
Also, I own a Tesla, and the last update was crap. So honestly, other than cash burn rate, which is really high, there is just not a whole lot that I like about this company even though I love the car. But, the weekly chart, it just shows this drifty, drifty downtrend and it is not a stock that I want to own. Again, I am telling you, I am tempted to short it, I would like to short it but I would have been the guy that would have shorted it here, and then covered up there, and then shorted it down here, and covered up here, etcetera, etcetera. So this is a problematic thing for you to short. But I am just telling you (and I am going to save somebody some money here), just don’t be long the stock. The technicals are not working. Distribution, look at the volume bars, red bars predominate. There is one big green one, that turned out to be a trading top. Any questions about this, hearing none, I will put this on autopilot and move on.
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