AEC is the latest stock I own to go bananas on nothing. It’s up over 10%, shrugging off the indices.
BAS is the only notable correction I’m experiencing. NRP and silver are both down a bit, but nothing really leading a charge lower.
TSLA meanwhile is rolling over hard, as a multitude of technicians knife one another in an attempt to call the next bounce point. If I had to put my money on one of them, it would be our own ChessNWine.
If TSLA can dip below $100, there is a strong likelihood that I will sell my $100 puts (reserving final judgment for such time) and use the gains to zero out the cost of my other puts (expiring between 2014 and 2015 with strikes around $35-45). That would give me essentially free options to make huge gains out of nothing.
Like a modern day Rumpelstiltskin, I adore spinning gold out of straw more than almost anything else – unless it’s the blood of your firstborn.
For the moment, the TSLA position is still a money loser. But at just 3-4% of my account, how can you pretend that I care?
In summary, the Tesla fanatics are getting quiet, and many a junior in college is starting to sweat.
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I thought I’d try to pick a bottom in the TSLA today @ 125.90 … dropped a couple from there, rebounded & I sold @ 126.00 … lucky to escape with a thin dime
the depressed value investor in me is getting itchy in TSLA after seeing it drop like 35% in such a short time….but it’s a momo so i’m trying to stay out. Kinda like Luke wanting to grab that light saber.
Buying equity that has plummeted in price isn’t inherently value investing.