I view any NIO pullback as an opportunity to add shares. I am expecting higher market volatility over the next week or so, and have raised my cash according.
Looking to add to positions in SDGR, ARKG, OKTA, AVGO, INTU, UPS, PK.
Year-to-date, NIO performance has covered for my poorer trades in AMZN, NOW, and GOOG.
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A few thoughts or comments on NIO midday Jan15th - just past noon and the volume is 85 million versus 162 million, average for past 10 days.
stock is down 5.7% on the day, about $3.50; and down about $1.50 for the week
I’m watching the close, specifically want to see how much movement we have and the corresponding volume. Bullish sign would be to recover $1.00 to 1.50 on big volume in the final hour. Bearish sign would late day selling on big volume.
I’m still bullish NIO, and own more than 2000 shares, either long or via DITM calls. I rarely hold a trade longer than I can stand to wear a band-aid. I’ve held NIO since late November. I might be biased.
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Close was not optimal, but that was not big volume.
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Tonight Senator Schumer referred to the need for a new tax credit to incentivize American auto manufactures to compete with China EV companies.