SHOULD I BUY TSLA STOCK?

I just bought some right but I sold them too, now the reason I’m buying and I’m selling is because I don’t trust Tesla and I don’t see any reason why Tesla should go sky high. I mean fundamentally speaking, there’s no reason for for tesla to move higher actually there’s a very good reason for Tesla to crash down, but that’s not the way the market works, the market works according to you know if you have more buyers than sellers then the stock is moving higher and they don’t really care about the price, as long as they can you know put some more hot air in the stock they’re doing that.

Gladly. They’ll just keep buying. I wouldn’t go sleeping with Tesla but I would definitely day trade it because everybody else is buying it and when Tesla is trading higher you should add to the power of the intraday traders you should add the fact that investors, long-term investors, are buying everybody else who’s interested in Tesla they’re just buying and buying and buying - why should I care? I mean as long as it’s moving higher, fine. Yesterday it came down well theoretically Tesla could crash down so, I shorted it, today I went long.

I mean whatever comes. I had a very nice trade in Tesla for the long side, on the other hand I had an unpleasant loser with ZM. Both of them I traded with half size today. The reason I did that is because I came in a little bit late we had some issues with the trading room platform and therefore I kind of felt like okay this is not the first few minutes where I’m used to and you know feeling more comfortable with, so I reduced my size both in Tesla and ZM.

02:33 - So, the result in ZM, as you can see, is a losing trade and the reason I shorted ZM is the intraday formation here you see this V-shape formation usually suggests that there’s going to be some continuation this V-shape formation when the stock is moving up very strong and then coming down very strong that’s usually a formation of ‘I’m failing’, it’s like okay I’ve got it I’m moving higher usually the first 30 minutes or so you know some open trades from yesterday’s automated execution things like that and but then the real direction is taking over and I thought the real direction would be this, again this V-shaped formation which will continue to take it down.

Now if you look at the intraday it looked nice moved to a short right over here but it did not continue had my stop somewhere over here and moved out but you need to take a look at the daily because the days suggest that ZM is going to continue coming down. It’s a very clear downside momentum, so if you take a look at ZM’s daily you could think that well it’s probably going to continue coming down; did it happen today, no not yet. So, you know, it doesn’t go my way, I’ve got my stop loss and I’m moving out I was definitely wrong about ZM.

Well I wasn’t wrong about MARA. Take a look at MARA here, wasn’t my pick um it was posted in the trading room I just followed it and again if you take a look at  the intraday formation, same as Tesla, this stock has been in the news recently, clearly up trending was up trading today however I don’t really like the daily, the daily suggests that we’re going to have, I mean in the future days, the daily suggests that we’re going to have some real downside, strong downside, days.

So write down this symbol we’re going to have some party shorting it soon, however, you don’t short a stock which is up way too much and continues to move up because that’s a clear indication of what could become a short squeeze everybody, not everybody, a lot of people, would short a stock that looks like that. So on some days and I think we had a short. Didn’t we? I can’t remember. Two days ago? Maybe not, but we were looking at shorting this stock.

You don’t show the stock like this when it’s moving up because this could be a short squeeze there’s a lot of open short positions which could definitely get quickly closed when the stock like this is trying to move higher. Why? Because a lot of short sellers are using margin, a lot of margin, usually professionals and that and when the stock like that is trying to move higher then it usually bounces up real quick and this is a day to go long if you see the stock up trending but write down this symbol because we could have some fun going short MARA in the next few days.

Again, there’s two options here, according to the daily; one is to go long, one is to go short and both of them should be extremely interesting. One more thing you need to notice here is the fact that you go long before it moves to a new high our entry was here over $24. 25, right over here, where the highs was approximately 12 cent higher. Right here at $37 and again you expect a new high, you don’t go long at a new high, you expect a new high, and that’s where you go long.

Once you go long over the highs, that is something that novice day traders do and then you are usually chasing the stock up buying it at expensive prices and you know you just need to expect it. My other trade, last week we’re going to talk about today, is PLUG and again the PLUG was trending lower. My entry point was here and I got my partial a little bit more than that but definitely should have been shorted earlier. Probably somewhere over here. This could have been a very, very nice trade if I would have just found it earlier and I did not but now you need to take a look at the daily of PLUG to understand why it should come down and here’s the reason.

If you look back just a few months ago, three months ago, the stock was trading at $7, $8 and recently it just got to $65, so when the stock is moving up um another 15% just like it did today and again short squeeze all the way like this day over here yesterday and then definitely you have opportunities trading it for the long side and for the short side almost every day. So today, after bouncing up another 15%, this is a profit-taking day and when you when you take a look at the intraday and it starts slowly descending, moving lower, trending lower you could join it yeah we did now it’s just going sideways and of course I’m out of this trade but it worked out fine and anyway just keep following those again two options here another short squeeze where you could go long or a very big downside day, you know very likely tomorrow you’re gonna find PLUG.

Just right down this symbol gaping most likely after this, I mean if this downtrend is going to continue today you’re likely to find PLUG gapping down tomorrow, 5, 7% or something like that. So it could be a Gap-and-Go. Now I wouldn’t put my money where my mouth is because I’m an intraday trader and I’m looking for an intraday moving PLUG but just keep watching it. It should be interesting. It should be interesting tomorrow too, so again always watch the daily.

Always try and figure out what’s is about to happen. Now take a look again at the daily of PLUG and I’m gonna put up here a stock that we had some fun with in the past few days and I noticed some of you traded it for the short side today which is BTBT, now take a look at the daily of BTBT and it’s kind of reminding ,me of the same formation as PLUG now if you think that a stock like PLUG can continue moving higher, you’re probably wrong. Probably. It’s not 100%, but probably is very, very, very likely wrong.

This stock is very, very, very likely to come down I don’t know how far 50, 45, 37 it will come down look at BTBT. We had the same issue a few days ago stock started at $4 just a few months ago then spiked up to $33 and since then down 50%. Now this 50% is likely to happen to PLUG here. Maybe PLUG is a great company, I don’t know, I don’t care. but if PLUG just moved in to $65 after starting at $9 or $8 just a few months ago, three months ago, it’s not likely to stay here and I don’t care what the reasons are maybe it’s going to continue sky high but until then we’re gonna have some interesting shorting days now look again we talked about it when BTBT was here, actually the first day down was the day I shorted it and then we had several short days.

I also remember one long day, I think there was a kind of an intraday short squeeze there also, anyway lots of fun when the stock is moving that much so just write down the symbols we could have some fun with these ones so anyway it was an interesting day not a huge upside day had a better day yesterday but it’s nice to finish with four trades from which are three in green, one in red and just a nice green day. Thank you for watching traders and if you’re on YouTube if you don’t mind giving us a thumb up right here the button and that will help our channel help more people like you join us and the more we are the more opportunities we find, the stronger we are, the better we are so let’s give some more people the chance to join us it’s good for us good for you and thank you all for joining today and I’ll see you all tomorrow.

Bye traders. .