TSLA – Tesla Motors (Last:191.87)

Tesla got whacked yesterday, supposedly on word from Elon Musk that the company will not be turning a profit much before 2020. Although this “news” is about as dog-bites-man as it gets, DaBoyz wasted no time repricing the stock with a gap-down opening that brought it down below the 196.19 Hidden Pivot midpoint support shown. This implies not only that more downside awaits to as low as 163.88, but that any rally back up to 196.19 would be an enticing short sale. _______ UPDATE (January 15, 11:39 p.m.):  Yesterday’s fake-out rally got within 44 cents of my 196.19 benchmark before collapsing anew by nearly $6.  If you got short, set a break-even stop for now and please let me know in the chat room so that I can establish tracking guidance. In any event, you should have covered a third to half of any short position above or near the lows. _______ UPDATE (January 25, 10:57 p.m.): You should be out of the stock, since it has rallied as high as 203.50. That was noticeably shy of a 204.38 target, and although the failure to reach the target straightaway hints of underlying weakness, or at least a lack of bullish conviction, we’ll give bulls the benefit of the doubt for now as they try to prove their case.