SELL TSLA

[jethreauxdawg]

I bought back in when it dipped a couple weeks back

It has since exponentially dipped. Your original chart forecasting its trajectory is looking more like a possibility. So how does a gambler get his money back? Double down!

 

[RocketDawg]

I don't know what the significance is, but on this year's federal income tax forms there's a question asking if you've bought bitcoin or other cyber-currency. I have not, so TurboTax didn't delve any deeper. Don't know what it would have done if I'd said Yes.

 

[Jeffreauxdawg]

Jethreaux,

I think you are learning a lot this past year. So here is a little quiz. I will give you my thoughts in a bit.

Below is my TSLA chart on a weekly time frame and you can see where my buy zone is (from $193.80 to $390.86)...

Why do you think those numbers are important?

View attachment 19675

 

[Quincy A. Wagstaff]

Wagstaff...

I think we all owe you a debt of gratitude. Since you posted this and Tesla announced it bought $1.5 bn of Bitcoin, TSLA stock is down 36% and has lost $290 billion in market cap.

Your advice to sell TSLA saved me big time!!! Let me know when TSLA sells the Bitcoin so I can jump back in..

View attachment 19672

Please note the market cap of TSLA on February 8th and where it is now..

View attachment 19673

I guess investors decided management was acting a little reckless.***

Interesting. bitcoin is up over 30% in the same time frame. This includes the 19% dip you were sweating last month. What else is up over 30% in the past month?

 

[Quincy A. Wagstaff]

I don't know what the significance is, but on this year's federal income tax forms there's a question asking if you've bought bitcoin or other cyber-currency. I have not, so TurboTax didn't delve any deeper. Don't know what it would have done if I'd said Yes.

This is just the natural progression that people on this message board are preparing for: The US government starts taxing something right before they ban it.

 

[Jeffreauxdawg]

They are trying to tax the gains. It's going to be a challenge for the IRS to figure it out as more and more value dumps into it. It's why I am in the camp of watch yo butt on Bitcoin.

I think the technology/idea of cryptocurrency is wonderful. But I will never bet against the will, want, and measures the IRS will take to tax people. The federal government will turn decentralized currency into an illegal asset if they cannot tax and manipulate it. That's my fear. Right now they are only looking at the transaction gains, but soon they will look to tax the value because they can't see a lot of the transactions taking place.

 

[dudehead]

They are trying to tax the gains. It's going to be a challenge for the IRS to figure it out as more and more value dumps into it. It's why I am in the camp of watch yo butt on Bitcoin.

I think the technology/idea of cryptocurrency is wonderful. But I will never bet against the will, want, and measures the IRS will take to tax people. The federal government will turn decentralized currency into an illegal asset if they cannot tax and manipulate it. That's my fear. Right now they are only looking at the transaction gains, but soon they will look to tax the value because they can't see a lot of the transactions taking place.

It's not just the IRS that is the threat. A new medium of exchange is potentially a threat to all who own and/or control the current mediums of exchange. Who do you think is the biggest player there?

 

[Jeffreauxdawg]

Check your PM's... I bought that dip last Sunday. Prolly going to sell it soon as more attractive assets go on sale and interest rates rise. (FYI... Rising US Treasury rates are the enemy of all other stores of value.)




But here is the chart where I saw that descending wedge set up and made a pretty damn good buy on bitcoin. Almost the dead bottom.

View attachment 19676

And just in case you don't believe that here is my confirmation email... (Those coinbase fees are a mofo.)

View attachment 19677

I'm not anti bitcoin, I just am willing to see both sides of an argument. You are a real stick in the mud if you can't admit how funny it is that TSLA crashed the day of announcing the Bitcoin purchase.

Eta... It's funny because bitcoin is the best money maker TSLA has... Carbon credits will go the way if the dodo as all these other automakers build there own EV's. TSLA will have a hard time being profitable just making cars.

 

[jethreauxdawg]

No clue, but I’ll throw out a WAG

A stock price in that range would value the company somewhere between other automakers and some tech companies?

 

[Jeffreauxdawg]

A stock price in that range would value the company somewhere between other automakers and some tech companies?

Not where I was going, but probably true... I will look into it.

The top number is where the stock "consolidated." Each candle represents a week, so TSLA spent about 13 weeks around that area. On a company that big, it's a pretty tell tale sign of big institutional money slowly building positions. So it's an important number if you are above or below it.

The lower number is the previous high (pre coronavirus.) That's what the market thought it was worth before the fed, retail investors, etc jumped on it. Both of those numbers would be excellent buy points...

So if it continues down I would buy at $400 ish hoping it will consolidate again or move back up quickly. If it fell below $360 I would close it out and hope to catch it again around $200 or above $400 if it just whipsawed me out of my stop and started climbing again.

I doubt any of this will happen anytime soon... TSLA has become a momentum stock and a real battleground. But I thought it would be a good way to explain why I look at technicals.

Because ultimately, the chart can confirm your hypothesis sometimes (it could very well be that the big money finds the old high and the $400 area very compelling for valuations.) It could be that $400 was a big fat round number ($2000 before the 5-1 split this summer.)

 

[Quincy A. Wagstaff]

That is a really good entry point. Congrats!

I’ll leave the trading to you. I’m a long term investor, not a trader. I DCA and buy dips. I also don’t like paying taxes. My strategy is to accumulate as much as possible over the next 10 years, which is what I’ve done over the last 5 years.

 

[JungRebel]

Switch to Coinbase Pro to pay about 1/5 of that tx fee from what I'm seeing. You can get .2 BTC for a fee of ~$35 at its current price.

It's free to move coins to and from your CB and CB Pro account. It is also free to fund your CB Pro account from your bank.

 

[MaroonOil]

This isn’t a GME thread? Darn, man being up 30-50% every day is one hell of a drug.

P.s, long TESLA & buy Roblox & Starlink

Oil prices are expected to come down, too much supply floating. Edit: Memphis Valero rack has been out of diesel, on daily allocation, diesel prices going up in the Midsouth.

I hope this knowledge was a good thread hijack. I was panic buying so much more of GME today, thinking this was it smh

 

[Jeffreauxdawg]

Weirdest thing I have seen so far...


Look at the price action between AMC and GME.. damn near identical. When all is said and done something weird will be proven out on these two.... It's no longer the shorts. I think some algorithms are scraping social media.

Look at the identical patterns...

View attachment 19679

View attachment 19680

Both have a big long JH pattern followed up by a short stubby JLS soup can pattern.

 

[patdog]

Gains and losses on cyber currency have always been taxable. There was some question early on, but they settled that pretty quickly. The question is just for enforcement purposes.

 

[TrueMaroonGrind]

This isn’t a GME thread? Darn, man being up 30-50% every day is one hell of a drug.

P.s, long TESLA & buy Roblox & Starlink

Oil prices are expected to come down, too much supply floating. Edit: Memphis Valero rack has been out of diesel, on daily allocation, diesel prices going up in the Midsouth.

I hope this knowledge was a good thread hijack. I was panic buying so much more of GME today, thinking this was it smh

Has Starlink set a date for going public? I want to get involved as soon as I can.

 

[MaroonOil]

No date set on StarLink yet, but a few of my friends are getting StarLink that own some farms in desolate areas. If it works in these areas as advertised, it could change the game. Imagine getting decent internet anywhere, that is enough good speculation for me.

Tesla is fine & i’m buying this drop, not even worried.

It has already been proven all the irregularities going on in GME. I admitted this in my first post here. As of 2/28 we know GME is still 130% over the float.(don’t know the currrent number atm but it is still very high) Which means, let’s say the squeeze happens tomorrow. They got to return 130% over the real share amount. These people are so screwed & I’m enjoying it more then the BTC rise. I was called crazy & dumb for collecting them in 2008 too.

Edit: it was just reported that short sellers lost 609 million today. Yeah bro, the shorts are totally out! Anyone that says that or believes it is full of **** or they themselves are short.

 

[Jeffreauxdawg]

No date set on StarLink yet, but a few of my friends are getting StarLink that own some farms in desolate areas. If it works in these areas as advertised, it could change the game. Imagine getting decent internet anywhere, that is enough good speculation for me.

Tesla is fine & i’m buying this drop, not even worried.

It has already been proven all the irregularities going on in GME. I admitted this in my first post here. As of 2/28 we know GME is still 130% over the float.(don’t know the currrent number atm but it is still very high) Which means, let’s say the squeeze happens tomorrow. They got to return 130% over the real share amount. These people are so screwed & I’m enjoying it more then the BTC rise. I was called crazy & dumb for collecting them in 2008 too.

Edit: it was just reported that short sellers lost 609 million today. Yeah bro, the shorts are totally out! Anyone that says that or believes it is full of **** or they themselves are short.

FYI... The shorts lost $609, but how much did the same shorts make in their longs? Traditionally hedge funds hedge by being short and long. They know the system better than any of you dark web conspiracy theorists. This is no longer David vs Goliath. They are on your boards, reading what you read and adjusting... Retail investors are going to get smoked.

Where are you getting your information? You you posted a tweet from Ihor a couple of weeks ago. Here's his update from yesterday on GME.... The short interest is way the 17 down. This squeeze won't work. There is not enough short to force the crazy covering like last time.

GME short interest is $1.90BN13.83M shares shorted25.38% of Float20.24% S3 SI% Float1.95% feeShares shorted down -3.91m shares, worth $539MM, -22.05%, last week.Shorts down -$6.12BN in 2021 mark-to-market losses; down -$774MM on today's +41% move pic.twitter.com/vNBbuWCWCr— Ihor Dusaniwsky (@ihors3) March 8, 2021


If you think the 50 ETFs that hold GME are being shorted at higher than normal amounts... Tell me which ones, I will look them up. I know there are rumors everywhere about this stock. Don't believe them. Use stops.

Last warning. This stock is rising the same reason every stock rises... More buyers than sellers. It's easy on a stock with a small float to drive the price up. Make sure you understand, 12% of the shares of GME are owned by insiders. They are in blackout right now and can't sell until after earnings. There has been no insider selling since mid January when the blackout started. Do not own this stock at the end of March. Talk about a falling knife... They are going to sell millions of shares in a matter of days.

Go sign up for S3's shortsight service... It's free.
You can look at it all yourself realtime.
Quit reading message boards about this (including this one.) It's rotting your brain.****

 

[JenBielema]

Check your PM's... I bought that dip last Sunday. Prolly going to sell it soon as more attractive assets go on sale and interest rates rise. (FYI... Rising US Treasury rates are the enemy of all other stores of value.)




But here is the chart where I saw that descending wedge set up and made a pretty damn good buy on bitcoin. Almost the dead bottom.

View attachment 19676

And just in case you don't believe that here is my confirmation email... (Those coinbase fees are a mofo.)

View attachment 19677

I'm not anti bitcoin, I just am willing to see both sides of an argument. You are a real stick in the mud if you can't admit how funny it is that TSLA crashed the day of announcing the Bitcoin purchase.

Eta... It's funny because bitcoin is the best money maker TSLA has... Carbon credits will go the way if the dodo as all these other automakers build there own EV's. TSLA will have a hard time being profitable just making cars.

Hey baby....coinbase is the most expensive exchange. If you are dead set on using coinbase, please at least use Coinbase Pro. If you want to drastically reduce your fees - choose between CashApp, Kraken Pro, Gemini Active Trader or Binance US.

Coinbase also works in lockstep with the IRS.....by turning over loads of user information. Use a different rout hun.

 

[Jeffreauxdawg]

Hey baby....coinbase is the most expensive exchange. If you are dead set on using coinbase, please at least use Coinbase Pro. If you want to drastically reduce your fees - choose between CashApp, Kraken Pro, Gemini Active Trader or Binance US.

Coinbase also works in lockstep with the IRS.....by turning over loads of user information. Use a different rout hun.

Already done. Just saw a trade setting up and had to move fast... Had no clue that I would get slammed with a1.5% fee, but worth it to get in quickly I guess.

 

[Uncle Ruckus]

I think it's possible, so how do you transfer your holdings from coinbase to another option

 

[MaroonOil]

FINRA data, they get their stats from dark pools. No one really knows the situation unless you got a B. Terminal. Analyze XRT

What I can tell you is, yes, a lot of positions did get out on the way down but also reshorted. I check the short borrowing constantly. Yes, the interest is too low for now for a real squeeze but a squeeze can start from some where else too, 20% chance.

As I have been saying, impossible for these stuck positions to get out in the short term. The price is too high, even when it was at 38, it was too high. You will see the spike when they close like we did last time.

Enjoying the ride because GME is only worth between 30-50

Edit: The rise in price we are seeing with low volume at this juncture is screaming a lot of crazy. Anyways, more pple are buying then selling obviously, I dropped another 20k on it today at the open. If GME sees 400 again, I’m throwing 1m at it, I will try to trigger it myself.

I have thrown out all logic, technicals & fundamentals & enjoying these brave souls trying to sniff out shorts. Going to be sad when this ends & back to crabbing normal gains.

 

[TheStateUofMS]

All my BTC is on Coinbase. Sounds like I should move most of it to BockFi and I'll make 6% on my deposit? How can they offer that? I'm HODL, so won't be cashing out anytime soon or selling any unless it had a major parabolic move to $100k.

Never heard of BlockFi. This sounds like some strange alternative universe.

 

[JungRebel]

I have no idea how they can keep those interest rates up. I dont really care if they do, as long as they can beat traditional savings accounts then crypto has probably its strongest store of value argument, especially with stable coins. BlockFi, Nexo, and others are trying to make this work.

Even then, those are CeFi solutions. DeFi is going to be a whole other thing.

 

[jethreauxdawg]

Who owns coinbase, blockfi,

Or any of the other platforms that allow you to trade crypto?

 

[Jeffreauxdawg]

Timestamp me. Out of BTC at $53,928.71. I didn't like the price action this evening and my target was close to previous highs. Probably leaving some in the table and missed today's high, but +/-22% after fees in a week and a half is good enough for me.

When it breaks above the previous high I may jump in again around $59,200.00. I like breakouts and have a little fear of a double top. If I see another setup, I will be glad to share. If I was in at $10-$20k I would let it ride.Thanks for letting me play...

 

[MaroonOil]

While BTC is still the main crypto standard, you need to be getting all you can from it in any form. It is the standard on how most other coins keep their prices.

Again. While BTC remains the crypto standard, it is going to keep going up in price due to the halving we have every four years. That one rebalance does that alone. Less & less BTC get rewarded when this happens(on a successful mine block), meaning less supply of real BTC. In which, good old supply & demand really creeps in weighted on one side. The only caveat to this is? At any day BTC can fall & never recover based on a few pieces of news that I won’t mention here. Even if that happens, some other coin will just take its place, ICX etc etc.

In my opinion, BTC will be at 70k in July.

 

[Quincy A. Wagstaff]

Will Oracle announce a bitcoin position today? Sitting on $35 billion in cash. Melting ice cube.

 

[Nicephorus]

All my BTC is on Coinbase. Sounds like I should move most of it to BockFi and I'll make 6% on my deposit? How can they offer that? I'm HODL, so won't be cashing out anytime soon or selling any unless it had a major parabolic move to $100k.

Never heard of BlockFi. This sounds like some strange alternative universe.

If you’re using blockfi, better hope GBTC starts getting a premium again. Apparently “arb’ing” the premium over NAV is where they generate a lot of revenue.

https://ditchblockfi.com/

With BTC etf’s likely in near future, going to be less people willing to pay a premium on GBTC. It’s currently 3.5% below its native asset value (NAV).

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