Traded Tesla last evening as the stock in the pre market just gap down and when market opened, it gap down even wider where the whole market was selling like hot cakes. It was extreme fear and panic where many stocks just gave up their gains. Tesla was one of the hottest stock the hottest stock of 2019 rose on the promise of success in China and now an epic bull run has come to a halt with tumbling share prices. However, it presented an opportunity to trade on the long side as the price recede from $960 high to a low of $611. So why Tesla? It was because the sheer fear of selling and the amount of investors cutting losses and the unloading from the BBs, it was soon time for them to accumulate again and hence it was a stock to watch out for again despite the cumulative bad news on this stock. We traded and as usual made $ again. It was an impromptu last minute meeting and trade with only some can make it.
Of course, some of them traded Nio while others traded Blackberr and all made $$ on the fly since it was a choppy and easy night. Overall, I enjoyed trading with my team and it was another learning and sharing experienced which I imparted my knowledge and experience to everyone. As usual, seeing them smiling faces means we made it again. Looking forward to next week!
Ron K - A Game Changer
