There are three trades you can make on Tesla ($TSLA) next week. Here they are! (October 16, 2020)TSLA
I want to talk about Tesla ( NASDAQ: TSLA ). The company reports earnings on Wednesday; the reason I am posting this video about Tesla ( NASDAQ: TSLA ) is because I am saying, don’t be fixated on Tesla ( NASDAQ: TSLA ), so maybe I should just be ignoring it.
But here’s the thing, the stock has been in this triangle, it broke out, I talked about this. And then it ran more here a little bit and then, boom, a big move here. Look at the volume, below average but we had super high volume here. So over time, you’ve got to go back a while, but volume was up a little bit more, we’ll put it that way.
Then you get this little pullback here, this is on Thursday, and then today a tiny gap up (I had some stock, I sold it all), and then a low close. I know there are a lot of “Teslonians” out there and a lot of people who think that Elon Musk is Tony Stark only much smarter. I get that, I’m not in that church with you but I understand it.
I think there is going to be a tendency to, now that the stock is sitting here sideways, to take a gamble and say, “Oh, well look at what happened to the stock last time. It always goes up, it always goes up.” Well, it really doesn’t but you can think that. I think, at this point if you are trading Tesla ( NASDAQ: TSLA ) it is literally like a day trade each day.
You need to be just really, really careful about being involved in the stock, one way or the other, on Wednesday at the close. I just think there are so many things that could happen here. This stock could be down at 370.00, $360.00, at which time Cathy Wood and Ross Gerber would be talking about how they had sold but now they are going to buy back.
On the other hand, the stock could be up above 500.00 or beyond and now those same two nincompoops are talking about how Tesla’s ( NASDAQ: TSLA ) next move it is to $1,000.00. It could happen, we just don’t know. What I am just telling you is, that this is a very risky stock to hold over earnings. So every day, on Monday, Tuesday, Wednesday, if you are a “Teslonian”, if all you do is look at Tesla ( NASDAQ: TSLA ), and I know some of you guys do.
If that’s all you do; just don’t let the stock suck you in, to where you are taking a big position over earnings assuming that the numbers are going to blow people away and the stock is just going to scream and you are getting there early. It may happen so I am not telling you that it’s not. I am telling you that nobody knows.
Nobody knows whether it’s going to happen or not and that would be you. You would be included in the definition of nobody, so don’t think that you do. You never want to let your religion creep into your trading behavior; they are just totally not related at all.