There is a lot of noise and theories surrounding Elon Musk's selling of 10% of his TSLA shares. Yet coming out of the associated series of transactions he is owning a higher number of shares and a larger stake in the company....and paying a $15 billion tax bill to boot. The shares have found a price window between $980 - $1050 that it seems to like. A break out to the upside would target new highs above $1250, while a breakdown below $980 could signal another $100 to go on the downside. Meanwhile, I've made $10,000 on my Model Y order since July, just doing nothing but waiting for delivery. Tesla has raised the price of my car $5,000 in the interim (my price is locked in) while the trade-in value of my Model 3 has risen $5,000. Who doesn't want to be a part of this company, either as a shareholder or customer? No matter what the connection, hopefully both, you make money. The next leg up probably hasn't started yet. We need to see a high volume breakout which may not come until Elon is closer to "selling" his shares. I put "selling" in quotes because he has structured it so the more he sells, the more he owns. Who doesn't want to be in business with this guy? Long and Intermediate Term positions should be in place, but if TSLA drops into the $800's it's another steal of a deal. If price does fall that far I'll put out some new option recommendations to take advantage. There is so much good news due out in 2022 that if all the stock does is double next year, it will almost be disappointing. We will be shorting GM and/or Ford later this year, or early next year as I am waiting for Sell Signals in both their trend models.
