Like I said, the party’s over for $TSLA (November 12, 2021)
TSLA
I want to just go one last time to Tesla ( NASDAQ: TSLA ) and here’s why; yesterday I had drawn these lines. I was doing a video on this yesterday and I mentioned that this is kind of what you can envision Tesla ( NASDAQ: TSLA ) doing. They are not going to take a big drop, the only way they would do that is if the government said, “What Elon? We’re not giving you any more money,” then that would be a bummer. But as long as he is bringing in your dollars then they are going to do just fine, they’ve got a ton of cash.
There is nothing wrong with the stock per se, there is nothing wrong with the company. But the way this condition is, is, who is going to be buying it here? Institutions would actually be lightening up because the stock has had such a heck of a run. It ran up 50 percent in a month, in actually, basically 2-weeks of trading. That’s a really, really fast move, and if that doesn’t get you to sell some, you’re a HODLer, you are just going to hold it forever.
I would not short this stock under any circumstances. But what I would envision is, that this stock is going to continue to zigzag, I kind of stand by these lines. This, to me, looks like what is going to happen. And if it winds up coming back to the 50, then that is probably where you are going to see a bounce. The reason I am pointing this out is, don’t keep watching this stock. It is like a shiny object that you keep waiting to pay you off. Instead, set some alerts, set a price alert at like 950.00 or something. Until it hits that you can ignore it because you are not going to buy it up here.
If the stock does start rebounding you are not going to buy it up there, you just won’t, it’s a horrible time to be buying the stock. Oh, it’s rallying; well yes, great. But after a stock has blown off you don’t want to buy on the rally, you want to buy when the blow-off has fully recovered. So just set an alert here at 950.00, you could even go 940.00 if you want. But wait for the stock to stabilize before you buy. And guess what? My sense is, that stock is going to stabilize real nicely, just not this year. So don’t keep fixating on it.
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