Tesla To Start Music Service To Bundle With Cars

The second half of 2017 is really starting to get interesting. First, Bezos decides he wants to take over the grocery industry, and now Musk wants the Music industry. You got to love how this super-villain story is playing out, as both try to take over the world. Here’s the latest news on Tesla entering the music business:

Tesla is talking to the music industry about creating its own streaming music service.

Music industry sources say the carmaker has had talks with all of the major labels about licensing a proprietary music service that would come bundled with its cars, which already come equipped with a high-tech dashboard and internet connectivity.

Label sources aren’t clear about the full scope of Tesla’s ambitions, but believe it is interested in offering multiple tiers of service, starting with a Pandora-like web radio offering. Read More From Recode

$TSLA continues to squeeze those who bet against it, up another 2% today:

Take a look at the action in $TAN today, the ETF that tracks the solar stocks. Below you will find a weekly chart of the ETF springing higher off the 50 day moving average in textbook like fashion:

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And, there’s a lot of room to run judging by the volume pocket overhead (see chart below):

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From today’s runner screen, here are four long candidates within the solar industry that have potential to squeeze higher. I own the best of breed within the group, $FSLR:

Searching all morning for news on $TWTR, I found this gem. Soon Twitter will start paying users to attract hearts to their channel. This is a big push to compete with the likes of Google’s YouTube & Snapchat. Here are the details:

SAN FRANCISCO (Reuters) – Twitter Inc (N:TWTR) plans on Wednesday to launch a system for people to earn money by streaming live on its Periscope service, a first for Twitter and a way for the company to try to compete with YouTube and others in the search for internet talent.

People watching Periscope will be able to send performers and broadcasters they like a gratuity using a variety of heart shapes that are, in effect, a virtual currency they can purchase, the company said.

Broadcasters who receive the equivalent of about $175 in “super hearts” will be designated “super broadcasters” and be able to cash out the money as earnings, the company said. READ MORE

$CELG is pushing higher to the tune of 3.5% on positive interim results from a late stage study. There is no need to dive into the details of the study, because the only thing that matters to me is this huge breakout we see on the weekly chart:

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With the entire biotech industry breaking higher, this one has a good shot to continue a move back to previous highs around $140. Seasonally, July has been a great month to own $CELG. Here is the seasonality data I pulled from Exodus:

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Look to buy dips here…

As I mentioned in my previous post, biotech continues to lead the way for momentum traders. From today’s runner screen inside Exodus, here are three tickers worth watch here.

The first is $VRX, a name I currently own. The stock is breaking above last week’s high and a perfect candidate to squeeze this week as we trade through resistance:

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CARA is a popular name on Stocktwits, and a chart I like right here, right now. I would like to see the stock hold the highs of the day and close strong for me to hold into into the following day. Sweet setup here if it can:

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EXEL another trending name on Stocktwits, up a cool 9% today. $24.85 is the recent high here, a move above $25 can shoot this one into the stratosphere:

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For those interested in today’s full runner screen, CLICK HERE.

Twitter is up over 5% with basically no new news flow coming out today. If we zoom into a 30 minute, shorter timeframe chart, you will notice a pretty significant break in prices on above average volume:

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If we view the 9 month daily chart, you can see how powerful today’s move is pushing the stock right through the 50, 200, & 20 day moving average:

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Maybe people like the upgraded look to the platform, maybe people are just happy to see upgrades, or maybe we just have a technical breakout with a little FOMO taking place.

Whatever the case is $TWTR is now up 6.09% on the day.