The stock’s canny handlers have seized an opportunity to crush shorts with a vicious squeeze that has come almost precisely from a Hidden Pivot support at 212.12. This demonstrates once again that the stock is the obedient if unwitting slave of Hidden Pivots. It also implies that the current move will hit 253.45 if it surpasses a lesser Hidden Pivot at 237.73. If so, that could provide a ‘mechanical’ buying opportunity for those comfortable with the technique. TSLA’s surge followed a Q3 earnings report yesterday that noted widening losses and revenues that missed estimates. The talking heads said “investors” appear to have focused on the “positives,” but that’s just the usual clap-trap. Quite obviously, speculators outsmarted themselves by overdoing short positions ahead of earnings that they knew would be worse than estimates. Those estimates are for the rubes, of course — numbers pulled out of thin air by analysts paid to provide portfolio managers with cover for buying, buying, buying till the end of time. _______ UPDATE (November 11, 10:35 p.m. ET): A $20 selloff has altered the picture, and now TSLA would need to rally past 229.36 to catch fire. _______ UPDATE (April 6, 10:51 p.m. ET): DaBoyz have shorts firmly by the cahones, with a 273.40 short-squeeze target in sight. (30-minute, A=181.50 on 3/2 at 10:00 a.m.; B=239.88). Traders can buy a pullback to p2=258.81 ‘mechanically’ with a 253.94 stop-loss.
