TSLA 2022 Annual Meeting of Stockholders Thursday, August 4, 2022 | 4:30 PM CT TSLA is up 43.65% from its 2022 low of $620.57 on May 24th. It took us until July 21st, about a month off of the lows, to generate formal TSLA Buy Signals. We bought the Nov 18th $1,200C in both the Premium Service (entry 19.10 currently 26.50) and the PRO Service (entry 15.00). That call closed Friday at 26.50, up 38% (Premium) and 76% (PRO) with four months to go until expiration. In the aftermath the shareholders meeting, the stock split expected by the end of August, the EV tax credit moving its way through Congress, and any new products announced during the meeting, we will be taking profits and piling at least some if not all of them into 2023/2024 calls in anticipation of a run to new highs, then up through the $2,000's (pre-split) and to our ultimate target of $3,000 by 2024-2025. [See Fib extension tool price forecast on right axis.] TSLA Long Term Wave Progression During the 2019-2021 Wave 3 advance TSLA ran up from around $70 (Dec 2019) to $900 (Jan 2021). All indications are that it is in a new Wave 3 advance that began at the May 2022 $620 low, already up 43% in two months. Another 12X advance may seem inconceivable ($7,440) but half of that ($3,720) is doable as it is supported by underlying fundamentals (and Fib extensions). If you take no other trades recommended by this service during the term of your subscription, DO NOT PASS ON TSLA, it continues to be a Game Changer, and for some, a Life Changer. I'll do my part: Giving subscribers an excuse to go Long TSLA with shares, calls, and/or LEAPS. The rest is up to you. Guest video: How to Get a 20X Return On TSLA The Big Picture I've been strategizing for a market meltdown between Memorial Day and Labor Day, and expected it from much lower market levels. As prices keep recovering from May-Jun lows, the numbers of bears are dwindling and the voices and arrogance of the bulls is taking over: Jim Cramer warns investors not to miss their window to buy stocks CNBC’s Jim Cramer on Thursday advised investors to seize the moment and buy some stocks, since the Federal Reserve appears to be nearing the end of its tightening cycle. “When the Fed gets out of the way, you have a real window and you’ve got to jump through it,” the “Mad Money” host said. The charts below are consistent with the new found yet wrongheaded bullishness of Jim Cramer, as well as the end of a Wave (c) of (2) prior to a reversal back down in a Wave 3 to new lows: IWM Knowing that there is a rush to bullishness just as the summer is beginning to draw to a close makes taking the next wave of bets on the downside easier. It pushes the beginning of the next leg down later, taking the meltdown low into the traditional seasonal Sep-Oct crash low cycle. New short trades, and make no mistake they are are coming in August, should target Sep 16th and Oct 21st monthly expirations. As a general rule of thumb, when price clearly breaks down below the gray reversal rectangles, the probabilities become high that a new leg down has begun and due to the robust rally of July, price across all market indices will have a lot further to fall. DJI SPX QQQ IYR Trade Management The next series of trades will be triggered by the above patterns, i.e., price falling out of the reversal windows. It's possible there will be one false alarm trigger followed by one last attempt by at least one or two indices to regain the window before ultimately falling back through a second time...but don't count on it. New Signals will be posted here as triggered.
