International markets have been down and were up last night which our markets took off from open. Apple moved down below 207 and Sonos moved below 19/share. Alphabet (GOOGL) opened higher and continued higher to 1265. When it opened above the 1249 mark it was a signal that it was going higher. It went to 1265, came back to 1256, back up and back down to finish at 1255. There was a definite trading pattern it followed today and the 2nd path was easier to read.
Tesla was trading around 342 when it suddenly shot up with news of Saudi Sovereign Wealth Fund investment of $2 billion along with a Tweet by Elon Musk saying that he wants to take the company private at $420/share. Trading stopped at 2:45pm for an hour due to pending news. Musk later Tweeted that funding is secured pending a shareholder vote.
Elon Musk of Tesla is backing himself into a corner. By Tweeting his intention to take Tesla private to bust short sellers might blow up in his face. At this point he will have to make it fully public that they will purchase shares back at $420/share or go to jail for market manipulation. If he gets goes to jail, Tesla will go to zero. Buying a long dated option might be a good idea but could also turn to crap.
The real story will come out in the next couple of days and it will go up to $420 or will go down past $300/share.
Tesla was trading around 342 when it suddenly shot up with news of Saudi Sovereign Wealth Fund investment of $2 billion along with a Tweet by Elon Musk saying that he wants to take the company private at $420/share. Trading stopped at 2:45pm for an hour due to pending news. Musk later Tweeted that funding is secured pending a shareholder vote.
Elon Musk of Tesla is backing himself into a corner. By Tweeting his intention to take Tesla private to bust short sellers might blow up in his face. At this point he will have to make it fully public that they will purchase shares back at $420/share or go to jail for market manipulation. If he gets goes to jail, Tesla will go to zero. Buying a long dated option might be a good idea but could also turn to crap.
The real story will come out in the next couple of days and it will go up to $420 or will go down past $300/share.
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