Source
r/wallstreetbets•
perfectentry1

Tesla (TSLA) Last Stand

Technicals

TSLA in after-markets today was down to $655. This is starting to get really fucking serious.

TSLA has been a bellwether for market sentiment through this entire market run up, and if it breaks, it will spell much worse things not only for TSLA, but I believe the entire market.

Where is that breaking point? We are at an absolutely critical juncture.

https://i.imgur.com/f9hIoNv.png

If $648 doesn't hold tomorrow, it puts the entire move from $266 in serious jeopardy.

We need to find the fortitude to hold $648 tomorrow. If not, I fear bad things ahead.

Godspeed Retards

TL;DR - If TSLA doesn't hold $648 tomorrow, TSLA and the entire market could be fucked.

Posted Feb 28, 2020, 5:31 AM UTC

1961
[deleted]•

It's called a bubble and no TA will be able to tell you where it's going.

20
MentalRental•

How can it be a bubble when it's headed downwards? No, my friend, this is a hanging testicle.

8
[deleted]•

The bubble popped...

3
perfectentry1OP📉🤷can't go tits up•

Of course. But it can be very helpful in telling you when the bubble has popped, which is the point of the post

3
[deleted]•

The bubble did pop... it mirrors the the actual graph of bubbles. We had a return to normal phase and everything.

Bullish speculators are convinced there are still short squeezes even those most bears capitulated awhile ago. They’re just playing hot potato and not trying to hold the bag.

2
zachuwf•

Well I have $600 puts so let her have it :)

15
Phillip__Fry•

I bought $350, 450 and 500 puts earlier...

7
zachuwf•

We’re set right now

3
Phillip__Fry•

Well not so much as I'm still holding 89% of my AAPL leaps.... Down ~$150k or about 1/3 from peak so far.... But maybe I'll offset ~10% of the losses with the $2.5k I spent on TSLA puts this morning.

3
Phillip__Fry•

I was up $7k+ earlier today on the 2.5k tsla puts I bought yesterday.. should have sold half. now only up $1k$3k.

It's working somewhat as an inverse to my AAPL position though. The +$7k was when the rest of my account was down $30k. When the rest of the account was up $10k the Tesla puts were only up $1k.

The tsla puts expire mar 6 and mar 20 so I should probably sell some today.

1
[deleted]•

[removed]

1
[deleted]•

[deleted]

1
zachuwf•

I lost $500 from Microsoft and $500 from AMD and 600 from Berkshire, I’m in dental school so I feel you man, let’s hope for the best and good luck!

1
perfectentry1OP📉🤷can't go tits up•

Well, if $648 breaks, you're going to be in great shape. Hopefully those few thousand you bank is worth taking the entire market down for you

-9
zachuwf•

Lol it’s not my fault everyone created a bubble, might as well profit off it - I get what you’re saying though

11
CallLivesMatter•

I’ve got some news for you. If the entire market hangs in the balance of a company with massive debt, a questionable path towards profit, and a nightmarish supply chain even without a global pandemic then perhaps the market wasn’t so strong to begin with.

2
DownvotesMakeMeFap•

Pretty sure the market is already fucked

14
perfectentry1OP📉🤷can't go tits up•

Hmmm.... maybe. I think tomorrow is absolutely critical if we have any chance of stopping this waterfall

-8
SkyBIueDreams•

My puts don’t want it to stop though.

11
TripleBrain•

Dow down another 1.1k points with futures down 2%. It does not appear that there is a bottom forming

3
perfectentry1OP📉🤷can't go tits up•

I totally agree. Things look very bleak right now. Just hoping for a miracle shift in market sentiment somehow.

-1
TripleBrain•

I think algo movement from 10:35am today was the last attempt to get things going. Looks like that ball is picking up too much momentum to reverse at this point. SPY could see 288 tomorrow.

3
Oh_no_brosgoldbug•

Tesla is still overvalued, especially after the recent hit in China orders is wrecking their China numbers. Wouldn't say its indicative of much, though good luck to whoever is going for it.

14
thisisathrowaway8123•

It's a meme stock in the short term. Trading it right now is pure gambling.

10
Disada1•

We are in the right sub for that tbh

7
perfectentry1OP📉🤷can't go tits up•

There were plenty of people and funds who didn't think it was overvalued at $900. But yeah. I get what you're saying.

4
TinyPirate•

It all depends on the timeframes.

1
StockDealeractual retard•

Ding ding. We have a winner here.

Yes.

1
ScarletViolin•

The fact that people saw Tesla climb +20% over two days with 0 reasons to do so beyond sheer hype and then also consequently dump $100 in the span of 5 minutes like it was nothing and yet they still bought into the hype is beyond me.

Godspeed to all you tendy loving fools.

12
Disada1•

The stock went up when it announced dilution. I've seen that type of hype during the cannabis boom.

3
ScarletViolin•

Stock was also going up pre-dilution when nothing was going on. Heck the stock even jumped 10% when elon musk trashtalked bill gate's car choice.

1
StockDealeractual retard•

No, it went up because it was borrowing money to help the balance sheet which is what institutions wanted. It didn't really need to, but this will help it expand faster and into new markets, too.

So that's why.

1
Disada1•

I read your response but atleast your flair is makes sense.

1
StockDealeractual retard•

Says the guy who clearly didn't listen to the questions on the earnings call...

"Wedbush analyst Dan Ives called the move “smart and strategic” in a Thursday research report." https://www.theverge.com/2020/2/13/21136164/tesla-2-billion-stock-offering-elon-musk-cash-raise

You have to understand that WSB is the opposite forum. You get a compliment here, then you're a retard.

1
Not_FaZe_Worthy•

3D glasses aren’t working on the chart :(

7
perfectentry1OP📉🤷can't go tits up•

sorry. 3d technology not quite where it needs to be yet

3
ThePortlandStranglerStrangler from Portland•

Elon Musk Tweet Next week: Whoa … the stock is so low lol

6
kbthroaway723•

Planning to sell Tesla at $420 per share. Puts secured.

4
[deleted]•

[deleted]

1
richmomz•

TSLA is a meme stock at the peak of a market bubble - a bubble that was way overdue for a major correction which just happened to get mugged by a global pandemic at the absolute worst possible time. Anyone who thinks TSLA is headed anywhere other than straight back down to sub $300 is a retard.

5
StockDealeractual retard•

Great time to buy then at that price.

1
l0ckituP•

Tsla is severely UNDERvalued for the 3-5yr outlook. That being said I think it’s VERY likely we revisit 550, and if we break 5...back to the 3s...buy puts accordingly to stock up on leaps when the market reversal hits.

3
TinyPirate•

My position too. They will be the best placed to come out of the next few months in good shape. Not sure the same can be said about the other car manufacturers.

0
l0ckituP•

Buying puts now to buy calls on tsla for millions by next year. Next wsbgod confirmed.

3
luckychess•

It’s widely believed that Tesla has some funky accounting games going on. Usually a market correction can expose what’s going on under the hood. E.g. Enron whose dealings were exposed by the Burst dot com bubble.

2
mattschinesefood•

I've got a put for 3/6 at $550. We'll see.

1
CallLivesMatter•

Same. Does that makes up like put buddies? Or something equally gay sounding?

1
mattschinesefood•

Hopefully. I'm super new to this so I'm as gay as it gets.

2
stylindielin•

Bad things ahead like Tesla bankruptcy?? What are you specifically talking about? They did just raise 2B of capital

1
[deleted]•

[removed]

1
[deleted]•

[deleted]

1
__Daimon__•

Just imagine the run on TSLA when all this blows over.

1
jujukamara•

I can’t wait to turn all these puts into calls come May.

1
baecomeback•

Why not just be gay and buy puts on spce. It’s literally just an idea at this point

1
BabySniffingAyniss•

Yes if you have diamond hands you should be splurging on tsla right now. Its basically on sale

1
kbthroaway723•

Except it’s going back to sub 500

1
BabySniffingAyniss•

So then keep buying lol

1
ora408•

I have 30k in cash and cant withdraw from rh yet. Tell me where to yolo

1
theycallmenubs•

I have some 290 and 300 puts...😂 Summer expiration though

1
Calon13•

You must be autistic

1