TSLA


As I mentioned many times there were 3 major support and 1 of them above 290 were broken so the stock tested 2nd support around 286 from yesterday and 283.6 for today.
The stock was successfully bouncing back from 285 which was in the mid point between 286 and 283.6.

New swing range is now 285 and 299.
Due to the downgrade, it lost its momentum to break out 299 though.
So I do not think it is a good candidate for LT at this point even if it had B2 flag.
I would wait until it become B instead of B2.


WB


Whenever buy stock in the morning, it's 99% chance day trade.
I was on the road so I could not set up the order before market open.
Ideal order supposed to be trailing stop with -0.2 when over 54.
This could be my typical quick return move but I missed the chance.

Now I am thinking switch over this into LT play or taking the loss.
Problem was that it could not hold 52.44 key level and that is very weak signal.
There's a huge gap down to 40.08.
This means that there's a chance to go dip further.

Best option for this kind of situation is to hedge against Long by buying a Put.
If WB could not hold up and fail to bounce back up to 53....Put would give you even more return than Long. So you could still hold Long with profit.

I may suck up the loss caused by mistake today and move on instead.

Market


Had strong earnings but politics in play.
Nothing to say.....
Overall, I have said many times that the current market is very dangerous.


CRON


Drop was expected as it failed to break out Top yesterday over 16.
2 - 3 more drop days would open up buying opportunity.