This stock is insane. I've never seen tape move so violently in an overbought state. It's the most bullish financial instrument that I've ever seen when trending. Right now, the chart is positioned in such a way that the next move up could be unprecedented in terms of dollar/share appreciation. Assuming a great earnings call next week (which I believe will be the strongest report posted to date), I truly believe it can pass 2800 by end of month.
The recent price action has been laughably bullish to the point where we can see the RAREST candlestick pattern known to mankind displayed on the DAILY timeframe. That pattern would be the "Three Stars in the South." For every 4 million daily candles, only 9 appear in this formation. On top of being the rarest candlestick pattern, it is also the most bullish.
Now let me get this straight: the most aggressively bullish tape has just completed the rarest and most bullish candlestick pattern on the daily timeframe. Hmm.
Even if they bomb their earnings report, the move into the announcement is reason enough to pull the trigger long tomorrow with contracts expiring next week. Yes, I know they are expensive as hell. My entire account currently consists entirely of three close-ish to the money TSLA calls expiring next Friday (7/24). That sounds crazy, right?
Perhaps it is, but I'm so thoroughly convinced of a move higher that if I am wrong and blank out my current account, I can accept that. The reason is that if I'm right, the amount of profit generated in one-week will be orders of magnitude higher than what I could return annually, even if I were to continuously trade breakouts at a high-level throughout the year.
The odds are good. The potential weekly payout is unprecedented. I feel sorry for the designated market maker that got randomly selected to handle this stock. (Not that sorry).
The only reason I can think of shorting this before ER is to lower premiums. Otherwise, it makes no sense to take such risk until after the report, imo.
Don't get shook now.
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Patience, this will run into after hours. Wait for premiums to come down a bit more, it will run into close.
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No more patience, load up.
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Do not sell. Do not be clever. It's going to gap up. This is easy. Just don't watch it if you can't stand it, but for the love of all things piggish, do not sell into this close.
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Rip city round 2 incoming
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Prob to 1800+ by EOD
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yawn
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Last post before the big news.
Since this did not get the pre-earnings pump we wanted, the idea of flipping premiums is kind of out the window (maybe a late pump this afternoon for a slight profit).
Thus, we (I will be, at least) must hold through with cajones of steel. The upside is just too great and the opportunity is too seldom to not partake.
But, I will be buying a protective put because I am not a gambler (pure gambler, at least). Strangling here is the ideal setup because it did not pump into the report. It's a very binary outcome this evening and that's the best type of situation for a strangle, despite the expensive cost.
Recommend a strangled position at this point, with more juice loaded on the call side.
Good luck and don't lose everything by being a cheap-ish pig.
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Lack of volume here is troubling. It's not the stock's personality to get rejected at resistance on such strong news.
Be wary if tomorrow opens below 1700s.
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Final Thoughts Until Tomorrow Afternoon:
While you should be wary, that doesnt mean you should immediately panic sell either. Tomorrow is going to be a real test in every trading area.
I'll be holding longer than I should if its a rug pull because of the protective put, but I won't be commenting in the AM since I really am torn about how it shakes out.
Good Luck Pigs.
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Looks like we got ourselves a bear trap. Enjoy.
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Just sold my put, long and holding til whenever feels right to sell. Some hundreds of points higher, at least.
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This chart is finally shaping up. This took way too long to consolidate and now their is much more risk generated by the S&P's volatile topping pattern.
Still long, but get out as soon as the tape gets weak either tomorrow or next week.
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It's going to gap up, then move parabolically higher because all the weak hands from end of day today will get FOMO and buy without thinking, then the rug-pull comes. I'm shorting this after I close my calls in the AM.
Hope it breaks upwards out of the symmetric triangle that it's trading in currently.
horacejunior
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Yeah. rug pull vibes. Still strange though as the majority of options today were calls above 2000. Shenanigans afoot
goldenkat
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Hi H ,Congrats , hope you beat this :) wondering how much the call " 07/24 TSLA 2300 ( $ 3.6)will be tomorrow if you sell it , lets say open at 1650
maybe worth nothing much left ? thanks M
UnknownUnicorn5511258
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@katgold, thanks Kat, but it is not even close to over yet. 1850+ open tomorrow and money gets made. Still need to pray.
goldenkat
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@Perma_Pig, you're best , need to pray :)? if its up over 1700+ i will buy some more calls , cheer
horacejunior
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That was like an Iverson crossover on Adam Morrison with those Analysts (sorry Adam I love you though)
UnknownUnicorn5511258
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@horacejunior, If only iverson invested his 50 M in his own crossover, he might still have some net worth left.
horacejunior
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Me sees a bull flag
Oatshippo
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Damn that sudden drop is scary!
horacejunior
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I wanted to be clever so many times today, especially when I was 3k in the red in the morning. Instead I was a dumb pig and bought more