It is literally going to gap up at $900 and skip the whole $800-$900 range

You would think so, but $tslaq is full of trumpers who see right through musk ( I guess) but retweet all rhetoric from Fox News

Both are kind of cults too

This price action is awesome!

I said a while back cameras could work if they solve depth estimation and that it would take a breakthrough.

https://www.therobotreport.com/resea...-driving-cars/

Cornell guys seem to have figured some stuff out and replicated at least some of Tesla’s implied claims.

Still. Tesla is trying to overcome a major technical hurdle before they can even get to AI driving part. But if they get this to work, AI driving part can probably be solved pretty quickly by poaching a few engineers and/or buying someone.

[ ] sustainable
Feels like 1999. This will kill a lot of shorts. And a lot of longs later that got in at 600+

Touched $900

The AI/self driving stuff is fanciful nonsense. Incredible that we're talking about it right after Musk just basically admitted his former claims FSD were fraud. As I've correctly predicted for years, Tesla are dead last in autonomous driving and will continue to be. Their "foundational rewrite" proves they are years away from anything deployable to anyone who knows anything about software.

Amazing price, I'm in awe. If this isn't a VW like situation where a big buyer cornered the stock and left a near zero float, it will all come crashing down again. Volume is unsustainable, Tesla bought and sold more than the S&P 500 yesterday. This is far beyond a short squeeze (who are only ~20% of the float), the volume shows it's a retail ponzi bubble like TLRY or altcoins. Usually doesn't happen outside of penny stocks.

I'm the cuck that decided to cover here, I had defined a hard stop loss this time that I had to adhere at all costs ($894). I know this very well may be the high, but that's what I thought 200+ points ago, I just have been too wrong from a too early entry ($400 average~ on a too big of a position by now, without a hedge I couldn't fathom to have needed). Kudos to the bulls, I advise you to inverse me here and take a profit I still have some long dated puts left, but that's just a minor drop in the bucket compared to the loss on the short.

Very humbling experience and same time feels like a relief, haven't ever felt so dreadful about a position as I felt with Tesla this year. It's my biggest loss ever on a single position, though only 1/4th the size of my biggest downswing ever (which I recovered from). Good luck to both bulls and bears!

Turnaround Tuesday coming for TSLA?

Sorry to hear. Another possible strategy: buy some calls rather than covering next time. If you overbuy you can pull a profit from the runup while keeping your short covered. 10% out of the money for 1-2 weeks as a stock goes parabolic is very cheap, $5-$10 per item of stock you hold. It hard caps your downside and if you overbuy it lets you make money from the runup.

Puts are worth looking at at this point. I will be at open, and I haven't bought any up until now. Bubbles like this crash pretty quickly once this level of volume comes in, it usually only lasts 2-5 days

Thanks. You might be right about the calls suggestion, but I was simply overwhelmed/steamrolled over by the movement since last Friday. I actually was looking at some longer dated calls but they were so expensive that I put that idea out of my head and stuck to the defined stop loss instead (which I already had done a concession on the day prior, thinking yet again it wouldn't go further than this).

I'm trading part time (I guess you can call it a serious hobby) and this move evaporated 2018+2019 profits. I've looked at big losses before but it sucks that this time it's due to one play only.

Yeah. Just for a little perspective: 600 June Tesla calls were $11 when you bought in the 440s or so. They're now $270 for a 25 bagger. So you could have capped your downside at 40% for six months out for a measly $11/3% of your position. Pretty cheap insurance in a crazy stock. I don't short and I never thought Tesla would go this high, but if I shorted during a crazy up run (with something like earnings to look forward to where Tesla is certain to fraud it), protection makes sense, especially if you think there's 50+% downside profit available from the short

Feel for you bro. Anyone who has been in markets for awhile has had a similar experience.

Start back small and earn it back. Learn something. You are going to be ok. I probably would at least sit out the rest of the week.

Doing something with your kids or wife if you got them. Do anything but think about markets and DEAR GOD DO NOT WATCH THE PRICE OF TSLA. It will only cause more pain and misery. You did the right thing by stopping yourself out.

You are way too smart to be blaming other people for your decisions

This seems like a lifetime ago.

I’ve been short since 650. This does give me flashbacks to 2017 crypto. Basically the lesson learned is don’t short parabolic sentiment based on fundamentals — no one cares. Wait for it to finally turn or some sideways action I think... yeah you’ll never hit the top that way but there would still be meat on the bone to have. 900 today, well done anyone long.

For the other non believers, is there even any strategy in thinking how high this can realistically go these next few weeks or should I just go do other things in the meantime — lol. At the moment I don’t have a stop loss and the position size is manageable — but that’s at 900. The masochist in me wants to possibly add another 30-50% to my short position to average down but first want to see what seems like a clearer top before hand.

im watching with no position, i cant see myself not entering something at some point, i just dont know what and when yet

Yeah, it's just like Bitcoin.

Shuffle, everything in life is a gamble. Why wouldn’t someone enter? For example, If I thought this stock was trash at 650 for reasons xyz, I still think it’s trash at 900 unless xyz changed. My thesis hasn’t changed based on 48hours of price action. These kinds of price discovery runs, so long as you manage risk/have a decent thesis that is adaptable to new data I don’t see why taking a position is irresponsible. That all being said would like to hear more from my post above/how to best play it moving forward.

It is indeed gonna hit $1k

March 20 $600 puts are going for $13.00. That's the price it was a week ago and gives 45 days for even part of the bubble to drop out.

Yeah I noticed that my January puts ($400 strike) hardly moved in price compared to what I paid for them last Friday when Tesla traded @ $650.

I actually recommended this short to you (at $650 for the first time). I honestly didn't see Tesla as a likely parabola - this kind of volume ponzi penny stock pile on just doesn't happen on stocks this large. It's a new world out there with all the dumb retail money piling into whatever is hot.

Honestly, if you're worried about it going truly VW-style insane, buy some out of the money calls a week or two out to cap your downside, then you can just wait for the bubble to pop. Or cover and get in 1-2 month puts for $20 each or so. Big multiples possible (especially if China goes bad) and capped risk. Demand is looking terrible in Europe (Netherlands has close to zero sales since the subsidy ended) and China's shutdown is going to hurt their sales there, their factory ramp (on which much of this bubble began) and maybe even their production. It should be a terrible quarter for Tesla deliveries and profits.

Thanks, well I'm actually watching the price. I was initially rather annoyed that it looked like it was gonna open well below $894 where I took my loss pre. But now I'm glad that it actually wouldn't have mattered whether or not I had waited.

Btw I really wonder how Perkins is managing this position, he claimed to have been naked short. https://twitter.com/bp22/status/1217564493506588674

Looks like that position of $450-500k now turned into a $4.5-5m loss for him at current prices. Crazy.

OTOH, the 7Feb 1500C is going for around 5. Was at 8 briefly. Sell if you have the balls