Two hours into trading and TSLA is down over 7% in the first trading session post earnings. The message of the chart below is that the last earnings triggered decline was 15% over two weeks and then led to the best buying opportunity of the year. Based on the stellar news out of the yesterday's earning report there is another buying opportunity coming this time around so just wait for it. If stopped out of any calls pursuant to whatever stop trigger you are using, be ready to put that money back to work at the next TSLA Buy Signal. As of today, that will be the Dec 15, 2023 out-of-the-money calls. I will send out the appropriate Buy Alert when the time is right. For now, trade management is task at hand. TSLA Intermediate Term Trade Model The post earnings decline is shown as a Wave (4) of (5), the extent of which is unknown at this time. Wave (2) was short and sweet, Wave (4) could be drawn out and up and down before culminating with a run to the $300's or possibly to challenge the $414.50 all time high. It is ironic that will all the good news flowing from yesterday's report the shares are down 7% today. Last quarter, the shares fell from $180 to $152 in two weeks, then ran all the way to $299 into yesterday's earnings release. Bottom line: The next low should send shares soaring. Last Index Standing SPY, IWM and QQQ are all down today. When DJI turns red, we will begin our put buying.
