TSLA closed Tuesday at $505 and right on its Stochastic Buy trigger line. After-hours it ran up to as high as $519, cementing the Stochastic Buy. The chart below includes after-hours trading. After watching TSLA calls trade in tandem with the stock for the past four months my observation is that for percentage returns day-to-day it almost doesn't matter which strike is chosen, so long as there is enough time to expiration. That is why I'm going out to June and including some far out-of-the-money calls in the table below. Those percentage returns are based on TSLA price action in Tuesday's regular session. This TSLA Buy doesn't mean the market is out of the woods. They're throwing money right and left in an attempt to soften the blow of an economic shut down of unknown duration. As a result we are getting that counter-trend rally we have been looking for to set up a new round of Sell Signals. The ultimate market lows still lay ahead. For Elliott Wave aficionados, these rallies sport the typical psychology of a Wave II and/or a Wave B. I don't know which this is, but in either case it will be followed by a strong Wave 3 or C to new lows. Let's see if we can't scalp some more TSLA profits before that new leg down kick's off.
