Position Update / Mkt Outlook

Think it’s pullback time. Am still holding ~25% $TSLA short (which certainly had it’s back broken today).  No stock only verticals for next week expiration.
Based on the PA today in $TSLA, it seems both the 50% retracement level and 200dma at $110 will be a price magnet.

This is a raging bull market and it’s easier to trade from the long side.  I’m focusing my energies on passing CFA level I in December, and waiting out this pullback (which may never come).

I will be most actively managing $TSLA short, and looking to add in a low risk spot if I can for a move to $110.  Also short $FB today as a new position. 
That’s my laundry list.  Keep it simply.  Wait for opportunity to show itself.

Check out the bearish sentiment levels.  By bearish I mean pay attention to the level of bears in red.  It’s the most significant.
Chart provided courtesy of DecisionPoint.com

Here’s the FB chart(s) – break of $45 is what I would like to see.  Risk 1/2 percent.

2013.11.18[21.24.23]_TC2000 ®


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s