Tuesday, September 13, 2016

Applying the fundamentals to TSLA

First of all, it should be easier to get out of a trade than to enter a trade.  Ok, now TSLA.  Second of all, I'm going to disclose that I never got into this.  I think because of that date I had 9-7-16 as some kind of hidden message, so I was long nothing in that general time span.
   
On 9-8, the Ultimate Oscillator was not hooking upwards.  It was pretty flat, maybe it was excusable to ignore it.  The pivot point was there at the time, but sometimes they get erased like magic a few days later.

 Something I might be the only person to pay attention to, is the weekly chart.  Change absolutely nothing, but look at the frequency at the bottom that now says weekly.  This was a major sell for weeks leading up to that day.  So realize, as confident as you are that it was a buy on the daily, be equally confident that it will go down over a longer time span.  Especially considering this UO was flat out collapsing, and the one on the daily was flat.


 On this hourly chart, I use less for decisions to buy or sell, but more for timing.  On the 8th, you didn't really get a good buy until near the end of the day.  Then it flipped back shortly into the 9th.  With the weekly being a strong sell, I'd be out at that time.  I see this as the hourly saying, at this time, the daily chart is about to get overpowered by the weekly (longer term more powerful) trend.

Right now at this very moment, it does look a little bullish, but it is not a buy.  One could hold right now if the bought recently (when they shouldn't have).  You're on your own on this one.  Just imagine Evolution saying, meh.  Not encouraging but not holding you back.

Now I have to get back to SPX.  It could be doing what I wanted it to be doing!  It hit that low and bounced.  Still I have to wait for a solid signal.

2 comments:

  1. Much appreciated Joe. Thank you for taking the time to contribute to my education in this way.
    Good luck to all of us using the EvoSys.

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  2. TSLA looks like a buy today the 15th on trading view. Both crossovers have occurred.

    Check out the miners today. It's not often that gold is down and miners are up. I think someone knows the fed is punting next week and getting in ahead of a leg up. I'm going to jump on some JNUG.

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