Good Morning Traders,
Today I am looking at shorting TSLA if weakness continues. The market has been less then awesome the past week into Monday. Yesterday was another drop kick in your face. Hey, as a trader, we have to look at what is in front of us and be able to stomach the quick moves in either direction. That is what makes us the best at what we do.
I am looking at the 4HR Chart for TSLA and even the daily, and the charts are showing me weakness to come real soon. Tesla is no joke and should not be taken lightly, but this stock is a monster that will pay you in large chunks then turn around and eat you up. This morning alone, the price went from open nice to drop 2 points and now up 3 1/2 points. Now you can see how fast TSLA will turn around and spank you if you are not on your A game.
If you are trading like a swinger and waiting for some good set ups, then you don't have to worry so much. But if you are trading TSLA like a day trader, you need to do work and focus what is in front of you.
Today, I am going to stay on the sell side. If the stock pumps up its kicks and runs toward new highs, then I will switch from sell mode to buy mode. Just got to stay loose and trade with caution.
Good Luck Traders.... Happy Trading...
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