I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,121 Blog Posts

Contextual Approach To a Short Term TSLA Trade

As you may recall, I have been in and out of TSLA common stock for much of 2013 and a good portion of 2014.  My most recent common stock swing began 06/10 and is up just a bit over eight percent.  Sometimes I juice my position with some leverage, pinning on short dated call options.  I came into Friday with August 1 $230 calls and closed them early in the session with the intention of buying the calls back at the end of the day for a discount.  It turns out I was trying to be fancy, and I ended up paying a bit more for the position come 4pm.  However, I like the short term contextual read on TSLA right here, and I have presented my case below.  The yellow box is an expansion of a 15 day ATR.  My expectation is for price to achieve the upper target by the close of next week, thus allowing me 2-3 days of opportunity to smack a home run.

See below:


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