Elon Meme

So the S.E.C. won't let be me or let me be me so let me see, they try to shut me down on the NYSE, but it'd feel so empty without me. 


Elon said Tesla stock price is too high. Do you agree? Leave comments below

WTF Chart of the Day:TSLA Afterhour

Click Photo to Enlarge

Tesla (TSLA), reported Q1 earnings after the bell today, surprisingly squeezing $16 million dollar profit. Beat the street estimates of -.36 a share by reporting 1.24 EPS with revenues of 5.9 Billion. The company has negative free cash flow of $895 million. Of course, like most companies, Tesla walked backed guidance for deliveries because of the COVID-19 Pandemic. Instead of maybe going up a few bucks, it went parabolic in the after hours session. Take a look for yourself at the 2 minute chart above. Elon Musk went on a profanity ridden tirade in the earnings call, slamming the shelter in place orders in the Bay Area.

Have a listen yourself here: Tesla Q1 Earnings Call





Disclosure: This is not intended to be investment advice. Entertainment purposes only, please do your own due diligence before investing. I have no position in the above stock.

New Traders: This Sums It Up

Silver Futures Outlook

In regards to precious metals, I haven't traded them since last summer where I was too early on a trade so my caution is if trading options and buying calls/puts, please buy yourself enough time. I believe silver could retest the $13 level before heading higher. It was extremely oversold on the RSI, but the MACD cross was as clear as i'd like to see for continuing upward. I expect silver to consolidate around $13.00 and then continue upward over the next several months. I will be looking to buy calls on the SLV ETF when it is below 12.50.

Crude Oil Outlook: Week of 3/30/2020

Although the demand for crude oil is down due to the COVID-19 pandemic, staying below $30 a barrel is temporary in my opinion. As you can see in the daily chart above, crude oil is extremely oversold according to RSI, along with an impending bullish MACD crossover. As I write this, crude is down 4.28%. Well it might take a while to regain highs of 2019 and even 2020, from a risk perspective,  going long here seems like the way to go. Also oil has been down due to Saudi cutting oils prices to take aim at Russia, they can reverse course at any moment which would likely send the price skyrocketing. Do your do diligence before investing.


Disclaimer: I am not a licensed finance professional. This blog is for educational purposes only and not to be construed as financial advice. Any trades you make are your own decision.


Until next time. Happy Trading.

UPDATE: I am long a short put spread 17 days out, sold a 14P, long a 14.5P for a credit of .11($110) less commission.

2nd UPDATE: closed out of the above put spread. Bought back the spread for .04 plus commission.

Video: How to look up past Option prices using ThinkorSwim by TD Ameritrade.

Silver Futures Outlook

Current Price: 16.235
Outlook: Bearish short term
Reasons for being bearish: 10 Day SMA turning down, below 200 Day SMA, Impending bearish MACD crossover.


Disclosure: Long SLV 15P JAN 2018 @ .50