Stock Market 2023 Discussion

[HoopsNY]

What is so magical about the number 100 to you guys?

Tesla can go down to $50 per share and still have a valuation of over $150 billion.

Almost all of their revenues come from car sales. Nobody will be buying expensive teslas In a recession. The demand is already shrinking.

Why is $100 a magical number for you guys? That number is irrelevant.


The stuck was pumped on electic vehicle hype and Musk. Both have lost their muster in a big way.

Tesla is the definition of risky.

In TA, $100 is a psychological support/resistance level; though every interval of $10 usually is. I mentioned I'd buy below $100, meaning at a fib level, which for me would be around $65.

[AlternativeAcc.]

In TA, $100 is a psychological support/resistance level; though every interval of $10 usually is. I mentioned I'd buy below $100, meaning at a fib level, which for me would be around $65.

The support is around $97, not $100

[HoopsNY]

The support is around $97, not $100

Which timeframe are you looking at? Keep in mind, $100 being a psychological level has nothing to do with actual S/Rs, it's just a psychological zone. And there's not much difference between $97 and $100 anyway.

[tontoz]

Who are your favorite TA guys on TradingView?

I've been following hungry hippo for over a year. He is very good for short term market moves. Some of his calls have been pretty scary.

[HoopsNY]

I've been following hungry hippo for over a year. He is very good for short term market moves. Some of his calls have been pretty scary.

Good to know. I'll look him up. Thanks.

[HoopsNY]

So non-farm payroll numbers increased to 223,000 (23,000 above the 200k expectation). I guess another 50 bp will be on the table?

[tontoz]

Good to know. I'll look him up. Thanks.

https://www.tradingview.com/u/hungry_hippo/

[tontoz]

Interesting price action so far in TSLA today. They cut prices in China which caused a big gap down which was quickly bought. Curious to see if it holds up.

In the first half of last year TSLA raised prices by over 30% (which Musk called embarrassing). Their long term plan has always been to reduce prices when possible.

Report came out today that 2022 was the worst year for auto sales in over a decade.

[bladefd]

Interesting price action so far in TSLA today. They cut prices in China which caused a big gap down which was quickly bought. Curious to see if it holds up.

In the first half of last year TSLA raised prices by over 30% (which Musk called embarrassing). Their long term plan has always been to reduce prices when possible.

Report came out today that 2022 was the worst year for auto sales in over a decade.

Tesla still has crazy profit margins on each car sold. They can afford to slash prices if they wish. Still, China poses an issue for them. China has been locking down on-and-off throughout the year. There is also local electric car competition within China. It's also tough to do business in China, especially for an international company headquartered in the US because the Chinese government/CCP is unpredictable. They like to cause headaches.

Anyways in other news, Honda just announced an electric car to be released in 2025. They are working with Sony, but I don't know if they will be mass-producing it or not. No prices announced either, but Honda typically has affordable prices for cars. We will see.

[tontoz]

15,000 Tesla vehicles are already in the hands of Uber drivers through Hertz deal

https://electrek.co/2022/06/28/tesla...rs-hertz-deal/

[Doomsday Dallas]

[tontoz]

Indicators are showing as overbought. Frequently on days like this the market will hit the high of the day around 11 ET.

[Doomsday Dallas]

Indicators are showing as overbought. Frequently on days like this the market will hit the high of the day around 11 ET.

trying to liquidate things while they are up. Friday & This Morning have been great though.

[bladefd]

trying to liquidate things while they are up. Friday & This Morning have been great though.

I am going to wait to see if it goes up the rest of the week. At least until Wednesday. Not being greedy but I hate selling at a loss if I can lessen the lose

[tontoz]

I hedged my TSLA shares, selling the March 140 calls for $8. I also made small put plays on AAPL, EFA and SBUX.

I am really amazed at how strong EFA (Europe ETF) has been recently. Looks like it is about to hit strong resistance.