The EURUSD is being flayed.
Oil is rallying back to $100 on the backs of demand destruction and record supply coming to market.
Cain Thaler has apparently forgetten basic financial reporting concepts.
TSLA stock is rallying because a company that’s never made money selling a car, to this day, has decided to increase the size of its secondary offering.
And of course, everything is up.
I’ll back off my TSLA trash talk a little. Clearly there was no grounds to say that TSLA hasn’t sold any cars. A little hyperbole is fun, but obviously they have had some success. Despite that, there is no doubt in my mind that they are padding the shit out of this quarter. Some of this is political – I don’t trust anyone in bed with the DOE. Some of it is prejudice – I come from Detroit, so if I don’t see cars, I assume they don’t exist.
As it stands, even with the rookie cash flow miss not getting picked up before I rushed to publish, there’s a lot for me to hate about that company’s books. If I’m wrong about sales of the electric platform, I promise I’ll hold a big post where I self flagellate and get all melancholy. But it won’t be for a few quarters because I’m going to give the company plenty of time redact earnings and own up.
I think the problems are there, not initially because of any numbers, but because of the small comments and way the disclaimers and disclosers are being laid out. I went searching for the numbers to support that, and largely failed. But that doesn’t mean I’m going to start jumping up and down with trust of the management.
Ultimately, my opinion is that Tesla’s product is a beautiful piece of craftsmanship and engineering that won’t make any money. The EV1 will have a gravemate yet. I’m not advocating shorting TSLA; merely commenting that paying $90 plus for a company that turned one quarter of profits in 10 years, largely not from selling their main product, is a very bad idea.
For the moment, I am still largely cash, short the euro with EUO, short oil with SCO, and holding AEC, CLP, CCJ, BAS, RGR and physical silver that’s getting cheaper by the day.
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Tesla is making money on these cars they are making today.
Trading fundamentals is the fastest way to lose money here.
It is a TSLA SCTY UNXL GMCR market.
A casino of froth and momentum.
This isn’t the Fed buying ETF’s.
Maybe the fastest way to miss out on gains. It’s going to be very hard for me to lose much of anything, sitting half long.
Interesting how one article you have bashes what is just fine to do in the BANKING industry which is hide, miscount, cover up and shelter actual numbers like TSLA is supposedly doing and the next link you have is how great the oil industry is to invest in. You know as well as I do the global conspiracy involved in raping the natural resources of the planet for BILLIONS and TRILLIONS in quick profits for what in essence is a extension of the global banking scam you and so many others like you exploit on a daily basis. If the ALTERNATIVE fuels were given half a chance to survive without the stranglehold of you and the government cronies you dine with we would ALL reap the benefits instead of the chosen few insiders that trade well in advance of any standard JOE. Let’s be real here.
Alright Captain Planet, but there’s just one problem.
I’ve been short oil for over a month.