Well, $TSLA finally takes out the low of Wednesday and drops below $99.00.  Does this correction has more room to go?

Stay tune for next week.

Yes, I still have my put option on, so I’m doing fine.  My target is low $80.00.

For those die-hard believer, please save your breath trying to convert me.  Believe me, I do believe electric car has a future; a distance future is how I see it.  But for now, what goes up can come down as well.

My 2 cents.

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A housewife has her Tesla Model S towed into the auto mechanic shop in the nearest town where her car broke down.

“Can you fix it in a day?  I don’t want to stay in this town for the night.”

I bought put option on $TSLA to short.  My bet is that the short-squeezed has reached its climax.  If any of you folks who is long $TSLA but hasn’t reached your climax yet, I feel sorry for you. (grin)

Here is a good looking chart that tells me a correction is imminent.  Remember, just because I say so doesn’t mean it is so.

Notice the divergence in the momentum indicator and the high volume today.  I see support around low 80.00.

Edit: I just learn that ChessNWine has a keen analysis on $TSLA as well, it is a must read.

My 2 cents.

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