Just sold my Ferrari to buy more TSLA

Will be interesting tomorrow ! Could easily make some good intraday money!


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Not sure what you mean, but the vast majority of companies beat earnings "estimates" which are almost a joke each quarter. It also doesn't really mean the stock will go up. Microsoft fell a decent bit after beating all expectations and other times it goes up.

 

You’re forgetting forecast, pipeline, growth areas etc etc it’s not just the estimates; stocks are & have always been bets on the future not the now.

A lot was covered on the call, but I will just pick one and that is the sustainable energy generation and storage business is 2x the size of the automotive business...

 

Congratulations @freshmeat

This is coming from a guy that didn't believe in Tesla when they first came out, I also don't have a personal stake.

I am smart enough to know though that wealth is not a 'zero-sum' game and that the world is wide enough for much more folks. (especially affluent ones)

You're prosperity means you and @JERRYZ will have opportunities to spend your wealth on things that help the broader economy.

Well done!

 

Thanks! It was a brief victory; the entire market pulled sharply back today and TSLA was no exception...looks like it's going to be another leg of an already wild ride.

 

How soon will you use the earnings for a Pista? Wish I jumped in on this at least when it hit 1,000 a month ago just to ride the wave short term.

 

Surely u plan to sell some , no? I mean u got enjoy the money you made right? Otherwise what’s the game plan?


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What is funny is not invested in the guy - Musk's success (or lack of) is no skin off my back.

Similar if somebody hates Giorgio Armani for selling $5,000 suits? Don't like him? Don't buy his clothing - simple right?

Hell - this is Ferrarichat - we can hate Enzo Ferrari for selling 'overpriced' unreliable cars.

I mean I get it why Silky Johnstan hates Enzo, Musk, and Armani, he's a multiple player hater of the year winner:

 

Brother, My Oct $1,800 calls just got itm...my hands are still shaking. I want to join the 7-figure TSLA club...

 

With Tesla closing at $1,830 today, the detractors and naysayers all of sudden are really quiet....

@JERRYZ and @freshmeat congrats to you both. Wish I listened to you. While I did not profit, your win makes me happy.

 

Reminds me of my buddy Ben Sloss from google... Ben has a nice life now all those shares fed his car spree


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The wild ride continues...the stress though has been enormous, and I don’t know how long I can keep this up tbh lol. Less than a week ago my calls lost half their value...

 

Fast forward to 2020, are you still as excited with the Tesla as you were before?

I was #500 on the Tesla waitlist upon it's initial production launch.

In the end, I decided to wait (good thing) until the then new technology ironed out its many problems.

Fast forward to now, I am still enthralled with EV technology. However, the current batch of EVs don't excite me yet. They are good commuter cars, family sedans and can accelerate well. However, a sports car is more than that to me.

Also, the energy footprint and environmental impact of EVs is not much improved over modern ICE cars

EVs may not pollute much at the point of use. Yet, the plume of environmental devastation, toxic metals, and blood mining of rare earth minerals doesn't necessarily make EVs any better for the environment compared to ICE cars. The energy equation for EVs is just front-loaded with massive amounts needed to make the vehicle & batteries and less at the point of use: Energy can neither be created nor destroyed, it can only change form. To move a certain mass over a certain distance takes the same amount of energy regardless of source.

In the meantime, the SF90 has my eye.

 

Well I thought the July 13 print of 1794 was the high for the stock. I think the stock could still go higher. I don't see it going significantly higher based on technicals, however, this is the ultimate story stock, so who knows.

 

Oh yes...no doubt. Ben is extremely knowledgeable about Ferrari and 'The Client' here in Bay Area. Just chatted with him last week.

My neighbor is employee #8 at Tesla, so I know how that story goes....

 

Nice! Haven’t had a chance to catch up with him since a 100oct cars and croissants earlier this year! Time flies!


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You can't look backwards, should've, couldal've, whatever, doesn't change current reality There are many ways to invest and make money.

The smart people have a strategy and take a portfolio view. They are diversified, disciplined, and don't try to "time" the market. They keep no more than about 25% in something they can't afford to lose 100%. Most people can recover from a 25% loss which equates to a making returns of 200% for that portion (JP Morgan 2 yr indexed, Corp notes currently are at 200% return). More than that at risk, it's almost impossible to recover from. So fear not, there are still plenty of opportunities

The gamblers do without the above. They get lucky in a few, but in the end, the House always wins.

 

Are you doing naked calls? That's pretty risky and must have been painful to watch when it went down. I assumed you just outright bought the stocks like Jerry...I guess if you have covered calls you do in that case but that's not a typical strategy in high volatility stocks.

 

I would suggest a straddle if playing this game. ..doesn't make sense to me to tie up cash by buying the stock if the point is to profit off the volatility.

but..another thing entirely if going long.....all depends on the strategy inclusive of the eventual exit.

 

True...I don't play the options game but that would make more sense for Tesla if one isn't interested in Jerry's strategy to buy and hold for many years. I got burned in the tech boom and bust (particularly by Qualcomm even though they had a great future and product) and don't mess with individual stocks anymore...too much stress. I'm a boring S&P 500 index fund investor now. Speaking of which I don't see the S&P adding TSLA to the 500 until their volatility calms down given their market cap.

 

No worries, I didn't sell it at 1794.

 

What matters is that you get the return, or better, that you roadmapped into you strategy. Even if you had sold at 800 and your portfolio is getting you at least 45% annual returns...then you should be smiling!

It's a fool's errand to try to time the market...unless you can move/ make the market like the institutional traders can.