Why I flipped TSLA calls last week

One last post for my followers and I'm done today....

Not all of my trades have to do with ES1! predictions, some stocks are gonna go up or down regardless of what the overall market does. I flipped TSLA calls Mon/Tue because of chart patterns.

  • It threw a shooting star the previous Friday which is a reversal pattern. This draw in short sellers.
    It went up on Monday with a strong finish as shorts start to panic. I bought calls at the end of the day.
    Gaps up Tuesday as the shorts realize it was a headfake and panic increases, though you can pretend that Musk dancing in China had something to do with it if you

I took the easy money and flipped my calls right on open, because TSLA is waaay overvalued, and scares the crap out of me.

Obviously I would have made a lot more money if I held for another day, but short squeezes are hard to predict. I'm happy just to make money, not looking for home runs. Try to hit homers, and you'll strike out a lot. That's how the game works.

In any case, there are various ways to predict stock movement, keep your eyes out for ones you recognize and stick to what you're good at. Don't be afraid to go long or short because of valuation, but do it because you recognize a pattern, instead of chasing movement.

Don't ask me questions about where TSLA is headed, anybody's guess. It does appear to be coiling AGAIN, so it could still go higher but the valuation is super ridiculous at this point.
Comment: LOL, $500+


Hi there,
I'm fairly new to the stock market and am looking for some good education material. Just wondering how you learnt how to day trade and short stocks? Do you have any good book recommendations or sources of info?
Cheers in advance
+1 Reply
"I would have made a lot more money if I held for another day, but short squeezes are hard to predict. I'm happy just to make money, not looking for home runs."

That's a gem right there.
+1 Reply
hungry_hippo tuparkshakur
@tuparkshakur, you know, everyone's looking for over 100% gain, and winding up with some big losers. If you take the sure 20% all 5 days of the week, that's 100%....

If I remember right, I made something like 20 -25% gain on this overnight, and I flipped the calls opening minute or two after buying within 5 min of close. The only work I did was 2 minutes of chart read and holding it overnight. I'll take that every day of the week. I didn't even have to watch the damn thing at all, lol.
+2 Reply
tuparkshakur hungry_hippo
@hungry_hippo, I think learning that type of restraint and execution is a skill within itself. Thanks for putting the long game into perspective. I'm sure many could benefit from your response above.
+1 Reply
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