Seems like Tesla (TSLA) is always in the news.
Now, we have ‘the big short’, as reported by The Money GPS, doubling down on a possible even bigger short.
Is TSLA a good short opportunity or just a high visibility gamble; or maybe at this point in our history, just another psy-op?
How many minions are flagellating themselves over TSLA, anyway?
From a trading standpoint, TLSA could reverse from here. It could also gap higher into a wedge throw-over. With the weekly MACD showing no signs of erosion, probabilities are about equal.
Now, let’s look at another chart:
Real estate, IYR is showing classic signs it’s about ready to roll over.
Its been struggling for months at the 85-86 area and just yesterday, posted a new weekly low.
Yesterday as well, bonds reversed to the upside. Pre-market activity points to a higher open … solidifying the reversal.
On top of that, the dollar shows a higher open having (downward) tested its up-trend at the last session.
The list can go on but we see the difference.
One is a gamble (or even a psy-op manipulation of followers) and the other is a trade with high probabilities.
The table below has current positioning (not advice, not a recommendation):
Special Update: 9:52 a.m. EST. Price action in DRV pushed to stop level and has recovered quickly.
Position is being maintained (for now) with analysis to follow.
Update: 2:21 p.m. EST. IYR looks to be headed to a 38% retrace at approx 84.25, level. All DRV positions exited. Will look to re-enter shorts at higher level, price action depending.
Charts by StockCharts