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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (83345)	1/4/2024 2:40:22 PM
From: Sun Tzu	2 Recommendations Recommended By ajtj99 towerdog Read Replies (1) \| Respond to of 97817

It's always pleasing when your trade shows profits right away. In my case it is almost a necessity because I place my bets near inflection points. In this case I had missed on TSLA top, but felt that today's little bounce was as good as I was going to find an entry. I think TSLA should have at least another 10% - 15% to drop, and it may go as low as 190ish. Here's the intraday chart (30 min). ...and yes, now I'm up 1% on that trade. Nothing exuberant, but better than the loss I was showing before. I will add to it if it drops another 1%.

To: Sun Tzu who wrote (83345)	1/4/2024 3:54:00 PM
From: Sun Tzu	1 Recommendation Recommended By ajtj99 Respond to of 97817

What is the purpose of the Blue Line in my charts? The blue line is where most investors are positioned. It serves two purposes. Firstly, it is the the "T1". Stock is likely to bounce near it. Secondly, and perhaps more importantly, it tells me how lopsided the investors are. The neutral place for the blue line is dead middle of red and green lines. When you see it too close to one side or the other (e.g. it is too close to the red line in the daily TSLA chart now) then the risk/reward favor moving away from the blue line towards the other end. So if you look at the post I am replying to, you see the TSLA blue line much closer to the red line than the green line. This means too many people have made bullish bets on TSLA and have jumped in with FOMO. By itself this means nothing. But this same crowd is going to cut bait fast should the stock rollover. And that adds the to downside momentum. This is my TA thesis for shorting TSLA here. There are FA reasons too. EDIT - As expected TSLA closed below the blue line. So unless the numbers are surprisingly good tomorrow, it should keep going down to the green line.