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Whilst it sounds like a great idea to play the intraday trading game at this moment in time due to a price rise from the stimulus package, I would say to the ones who bought in early at $0.005 to maybe see what happens as it will take another rise to around $880 to put me in the negative. My purchase of 3STS at that price has ensured I have yet to see a red figure (only FX IS RED) . if you purchased at a higher price and the stimulus has placed you in the negative then it may be worth intraday trading until you find stable ground. The stimulus will be swallowed up by meme stocks and I'll advised schemes on Reddit and other pump and dump stocks like Senvion SA. *Disclaimer: I am not a legal or financial professional, please seek financial advice from appropriate qualified persons all chat and discussion does not constitute financial or legal advice in anyway***Just in case the Tesla cult crew decide to get me when I blow. ;)
Tesla up +6.2% right now amid the news of the passed stimulus bill... How long are the US gov going to put off this crash?
Might sell and get back in when things settle down a bit - what do you think?
I posted something on Reddit about the Tesla cult and immediately my post was flagged, attacked and removed within minutes. I believe Elon has hired himself a very good secret marketing and brand protection team who will stop at nothing to drown the truth from surfacing through any platform on Earth. These guys are just nuts like the Yahoo crew from the early 2000s. Tesla will more than likely drop to around $88 -$200 as a more realistic but still over valued price. It's beyond rationality as to why they believe Elon, who has a history of fraud and stock market manipulation is a Messiah. https://www.sec.gov/news/press-release/2018-226
They are so hopelessly invested and believe the market will continue to rise forever. Surely they must see when the big institutional investors pull the rag, the stock will plummet
This weird cult retail culture is going to end swiftly, the majority of people will lose money as the early investors take their gains.
Personally I feel Tesla is a $150-200/share company but also see these people supporting it at $300-400 as "a steal".
I'm on reddit and posted some DD on tesla as a short position and was swamped with people telling me its going nowhere, it'll never drop below $700, buying at $700 is a "no brainer".... the level of delusion is pretty impressive.
Where can you see this dropping to? For me the $400 range is likely and hopefully, for my sanity, lower
Re: Declare what...?
Exactly! I am of the same belief. Nothing to declare hence nothing to pay ;) Although you may have to explain away that new Yatch, the fancy cars and the extravagant mansion purchases. The good part to all these bubbles is that when the economy finally realigns with the market and dire times come, we can employ the Tesla cult bag holders to become our chimney sweepers.
Declare what....? Haha
The FX won't usually present a large negative until later down the line when Tesla dips to new lows. In the event that it does Dip to say $200, then the adjusted price in terms of FX could be in the tens of thousands but that would be easy to stomach as anyone holding more than 500k units would have made a few million but the scenario pointed out by someone earlier was that when there is a large drop in share price, the share is suspended and then when trading resumes it will be a matter of making a quick dash to close positions at a massive profit for those holding 3STS. Although I do not advocate that you do this but you could perhaps consider using FX and offset it later down the line as a loss against Capital gains tax (if you declare it) ;)
Thanks Chief - I bought through T212at $0.00861 which now puts me c.12.5% up (inclusive of FX impact), total in at £10k.
My expectation was that after yesterday's tesla performance (-8%), I would be up 3x the inverse of that (+24%) - but I'm only half of that. The spread is significant but doesn't account for it all, especially considering I'm up +1.33% due to FX
The main element to note about this EtF in particular is that it is a high risk inversely leveraged tool that should be monitored daily as if you had an actual CFD position against Tesla open. Intraday trading tools are usually for seasoned traders who use them for buy and selling through dips and as you can see lately Tesla has been a series of dips and recoveries daily.
GraniteShares 3x Short Tesla Daily ETP is a collateralised, Exchange-Traded Product (ETP). The ETP tracks, excluding fees and other adjustments, the performance of the Solactive Daily Leveraged 3x Short Tesla Inc Index that seeks to provide -3 times the daily performance of Tesla Inc shares.
For example, if Tesla Inc rises by 1% over a day, then the ETP will fall by 3%, excluding fees and other adjustments. However, if Tesla Inc falls by 1% over a day, then the ETP will rise by 3%, excluding fees and other adjustments. You will notice your own performance over time is determined by your initial entry point into the position plus taking into account the fees you incur, it may not reflect a profit for some time but as Tesla continue on the path of correction (hopefully) it may begin to reflect a more clear outlook. What price did you open your position and how much plus what platform did you purchase through?
I just invested a hefty sum into this as I feel Tesla is one of the most grossly overpriced stock out there
But Tesla is down -4% and I’m still negative - do you know why? I thought it would be more closely correlated and live?
It’s not the spread before anyone thinks I’m a newbie haha, it’s the fact the price increase isn’t going up while Tesla is going down