The purpose of this blog is to provide a unique insight into trends that guide market prices. It is intended to educate and show you characteristics about the stock market, of which, the so called "professionals" have no clue. Traditional technical analysis is almost completely worthless and that is one of the main reasons for the creation of this blog. If you enjoy market analysis and information that you will find nowhere else, this blog is for you!
Tuesday, November 5, 2013
After Hours Car Crash...
The bearish TSLA set up that confirmed at today's close nailed the move lower after hours. This move lower should kick off a multi week/month sell off that finally concludes around $70-80. I plan on covering my short position somewhere in the $100-125 area. I know that is a very broad range but there are several things I want to look at when the stock enters that area before I decide to buy the stock back. The 1st chart shows the bearish close at multiple resistance and the confirming bearish set up.