Panic Selling

Panic Sellers Push on Low Volume

Traders,

Sellers were successful in their opening push down into the 3840 area and we were able to bounce from there. These low volume sessions are tough on the inexperienced especially. Small accounts under $25k usually take this week off as it is treachourous with many irrational moves followed by extreme theta burn.

TSLA 0.00%↑

I stated to the room this morning that the tape was showing to me that there were 1-2 large players keeping the selling pressure on them. It almost makes you think someone told Elon that he shouldn’t buy Twitter or they will make him pay for it. Well, they are making him and most other TSLA investors pay for their “treachery”. TSLA has now fallen through 4 different order flow levels due to the low volume nature of the market in the holiday season. This was a well thought out attack and it is being executed flawlessly. The next question is: Where do we bounce. To me, it is long overdue for a monster bounce back to the $150 pivot in due time. The beginning of the year is seemingly always solid for the EV king. If I’m a long term investory in TSLA (which I am), I am DCA’ing here on shares. I would buy this thing anytime under $140. You will be paid off handsomely in the next 10 years when 90% of the taxi and rideshare drivers are in EV’s. Not to mention the general public perception that EV’s are good for the environment (debatable) and that more and more Americans will move to EV’s. As the market share leader for the foreseeable future, your portfolio will be happy with you in 10 years. There will be a bounce soon. The question now is where.

Tomorrow’s Auction