Recently I have been spending time studying the behavior of Tesla. The reason is because its a headline name and is heavily traded. Plus it up a ridicules amount YTD. To me its not justified along with many other tech company’s that have had a massive run up. I am realizing that I am more and more a MACRO trader looking for big moves up or down that could produce sizeable returns. Less trades with an eye for big moves. Year to date I have not fair well due to not following my risk management process and lack of patients.
Since February 2, 2023 till today the QQQ has been bouncing within a range between $308 and $311, volume range between 39 million and 86 million give or take a few. The VXN (volatility index for the Nasdaq 100) ranges between 24 and 27. Most of the time below 25. Much of this movement has much to do with the option market and its 0DTE options. Much of the economic news that has come out, CPI, Retail Sales and Unemployment have had little effect on the direction of markets. Much of the economic news has not been favorable, yet markets have gone up.
Which brings me to TESLA.
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