Yesterday TSLA soared well above its Average True Range trendline and generated a Buy Signal in its 240 minute Trading Model (see chart below). Although we trade this model independent of "big picture" considerations (which remain bearish into November), we still require follow-through before recommending calls. The high print so far post new signal generation is $263.60, so any print above $265 will be confirmation enough to take this trade, while a break below $250 will cancel it. Accordingly, upon any print above $265 we will be adding the TSLA Dec 15th $300C to the PRO option portfolio, currently trading around $9.40. For PRO traders who are still holding the TSLA Dec 15th 280C, consider that exposure enough for this new trade. Interim Note: TSLA is giving back some ground this morning, trading at $257, making a breakout above $265 all the more important to turn bullish short-term. TSLA 240 Minute Trading Model New TSLA Short-Term Buy confirmed on any stock print above $265 IWM "Big Picture" Intermediate Term Trading Model IWM has broken down below two important trend channels and remains in "Plunge Pending" mode.
