8/3/2018 – A positive day with the Dow Jones up 39 points (+0.16%) and the Nasdaq up 47 points (+0.66%)
The overall stock market finds itself at incredibly important juncture. Will it break out or will it face the so called and dreaded double top formation. If you would like to find out what the stock market will do next, in both price and time, based on our timing and mathematical work, please Click Here
Elon Musk is finally cracking under enormous pressure of a giant Ponzi scheme known as Tesla (TSLA). A company that would be impossible without today’s monetary environment, stock market bubble and government handouts.
I hold no position in the stock (long or short), but crazy valuation aside, the bearish case for the company is very well known. Just Google “Bearish case for Tesla” and keep reading.
That is not the purpose of this writing. This is…..
Elon Musk: ‘Dang, turns out even Hitler was shorting Tesla stock’
Early Sunday, Musk tweeted a doctored scene from “Downfall,” a 2004 film about Adolf Hitler’s final days. In the actual clip, which has been parodied many times since its release, Hitler is yelling at his generals as Allied forces close in.
In the version posted by Musk, Hitler is a frantic fund manager who’s been caught on the wrong side of a Tesla trade. “If Tesla doesn’t go bankrupt soon, I’ll lose everything,” he says in one of the subtitles.
As for the short-sellers he so enjoys taunting, they were sitting on a paper loss of almost $2 billion after the spike, according to S3 Partners LLC, a company that has access to and tracks real-time short interest data.
Now, while Mr. Musk gloats in arguably a fraudulent earnings report Tesla Discloses Worst Quarterly Loss Ever, But Where Are the 17,000 Model 3 Cars it “Produced” But Didn’t “Deliver”? Where is the SEC?, some serious issues must be raised.
Chief among them being, the CEO of a highly overvalued and speculative company shouldn’t be making fun of well researched company shorts and/or attempting to crush them. He should let the market do it for him.
Instead, the story is always the same. Some egomaniac CEO pumped up on his own hubris starts believing his own BS and the rest, as they say, is history.
I don’t believe Pets.com CEO made fun of the short-sellers in early 2000, at least I don’t recall, but nearly everyone else did. From business leaders to professional money managers, all were lining up to make fun of the “stupid short sellers” that were about to get run over by the never ending bull market.
All of the above has to do with sentiment that is all too pervasive at the tops. Trust me, Mr. Musk wouldn’t be making fun of the short sellers if we were in a bear market. If I were him, I would worry about the massive gap ups his stock has left behind, including the one from last week.
Now, if you would like to find out what the stock market will do next, in both Price and Time, based on our timing and mathematical work, please Click Here
