This is an excerpt from a update sent out earlier today to the Blue Line PRO Trading Service. It is equally applicable to all Premium and PRO traders, a mea culpa for not moving forward with new TSLA calls based on its most recent Trend Model Buy Signal. For PRO Subscribers: I've added a shorter-term chart (240 minute) below which was not included on the original TSLA post. Please review. TSLA The higher TSLA runs the worse I feel for not being more aggressive with its Intermediate Trend Model Buy Signal on January 17th. I'm following and posting this chart as a reminder to never let the macro view interfere with trading TSLA again, something we will all benefit from longer term. Remember, this model has already proven itself with over 20 real time real money trades between late 2019 and early 2022. The next pull back will either be large enough to flip the intermediate term trend to a Sell, or, be modest enough to set-up a repeat Buy Signal that will provide an entry to the long side. That's our next goal, back in a TSLA trading mode that we should never have abandoned, Wave 3 market crash or not. Speaking of which, that scenario is still front and center on my radar, but so long as key levels are in tact, no action to the short side is warranted. Nothing the market has done this week has changed the big picture. TSLA - Intermediate Term Trading Model (Daily) Six-month way out of the money calls on TSLA are up from 4.50 to 27.00 in three weeks, a gain of 500%. We can expect 2-4 of these a year in TSLA, at the cost of an occasional 50% loss along the way, but still a nice total return trading options on one stock...with those macro big picture blinders on. For what it is worth, that Sep 29, 2022 Sell Signal would also have been good for a 500% return as shares fell from $268 to $101 in about three months. TSLA - Short-Trend Model (240 Minute) This shorter-term model trades about twice as often than the intermediate term model, which means more wins, and, more losses. Option trading is tough enough as is without doubling up on the angst of losing trades. Nonetheless, its a robust system for a stock that trades big trends and has options with mega liquidity. VIX Update It's tempting to move our Buy-Stop down to a close above 20.00, but for at least the rest of today, let's leave it at a close above 21.00
