“The stock price that we have is more than we have any right to deserve”- Elon Musk last week
Tesla ($TSLA) screwed the pooch and is currently down about $17 or 10%., but its moving around fast right now. I wasn’t long or short but when the CEO says it’s overvalued, you should listen. The stock will go lower from here. My P&L went red after the report because I own some other momo names and in sympathy they have decided to move lower as well. Not worried as I am in stocks that have already reported earnings. You will get more of the Elon Musk show tomorrow as $SCTY reports after the close.
I say slap a 12 cylinder diesel in them anyway. Sell a gazillion.
Two stocks that look like the want to rejoin the ranks of their momo buddies are $YELP and $NFLX. There was substantial battle damage to the latter, but the story still rocks and will only get better.
Some biotech looks interesting again after the sell off. The $IBB is holding its 50 day moving average. I bought some $BIIB today and some $BIB.
Zillow ($Z) had a decent report after the close and is higher in the after market. I like it here. I just don’t know id the number was good enough to really scare the shorts.
Fossil ($FOSL) reported a nice number and is up a five spot in the after hours.
Two shippers that may be getting ready ate $BALT and $NM. See the charts below.
$BALT
$NM
Twitter ($TWTR) gets priced tomorrow after the close of the market. Should be a hoot.
Come by for a free trial here.