Hubert Senters here.
And I got a question from a free viewer of the online videos and Mike asked in response to your video yesterday. I thought last time you said Tesla’s target was $140. Yes, Mike what I’m looking at it and I’m obviously going to joke around with you about a little bit so don’t take anything personal.
I just call how seeing whenever the price action is doing what it’s doing so if I call it in it’s breaking down here below the cloud and it just keeps on pushing lower and lower what I’ll do is I’ll just look for areas of support and resistance and I’ll say okay the next place will be $177 and then probably $140 and then $35.
Under the guise of it has to break through that $177 round. So what I’m looking at a daily chart most of my trades are holding where from 3to 21 days sometimes substantially longer sometimes substantially shorter. But anytime I see something close three bars above the cloud I have to change my mind. The market changes my mind for me.
So although I think Tesla’s going to go lower over time because competition is going get it and technically it’s just bounced above the cloud and the lagging line has not closed above that. I think it’s got an opportunity to grow to $278 to $301 and then fizzle out then go back below the cloud so I’m just calling them how I see them.
Now, there’s no possible way I can predict where every single stock and futures market is going to go particularly by the day. And we were joking around they’re saying what was this Mike? I could kill you I could predict your death but I’d have to kill you in order to make that happen and we were just joking around here in the office. But it’s a good question.
But all I do is I’m looking at the technical and I’m trying to predict where a supportive resistance area will be if the momentum continues on that way. I can’t control any of the hits. I don’t control hardly anything in life alone anything in the market. But when it sells off you have had an opportunity from a break of $315-ish all the way down to $177. Now it’s due for a bounce.
So now it’s going to close above the clouds, going to try to bounce up 50 percent. If it doesn’t bounce up that high. You know it’s going to be weaker and it’s going to go lower if it does then we’ll deal with hey, it could potentially go through $300 and go back up through $360 so I just call them how to see them.
And heads up, when I’m giving you big targets out in the future. I went to bed off with only 40 points off on Tesla but anyway my thanks for the question. I’m going to be hosting Scott Bauer on a special webinar tomorrow at 4PM EST on how to trade options and the best way to use volatility.
If you’re struggling trading options and you haven’t broken the code or figured out how to use volatility the correct way. This guy is really good at it and he has and we see eye to eye when it comes to risk reward trade so if I had to learn if I had to pick and choose who is going to learn options from this would be the guy.
I’ve already got all access to all of his back end stuff. I’ve seen it. It’s really sexy. It’s really clean and it’s really useful so if you’ve never traded options this can be a great webinar for you or if you’re an old pro this guy is going to show you a thing or two because he’s got a couple of good stories you’re going to listen to on the webinar tomorrow of taking the other side of Warren Buffet’s trades which you think would be a losing proposition but wasn’t.
And then also he was one of the first traders. He was the first trader in the Amazon pit therefore while he’s the only guy ever done so I’m going to HYPERLINK you to the form to register for the webinar and I’ll see you tomorrow at 4PM EST.
Hubert.
