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Journey to $1 Million, November 8th, 2021

The Nasdaq has finished up for 7 days straight now, and other tech and growth have been heating up. Starbucks has also been heating up with their coffee sales. Congratulations to all of my VIP Diamond Hands that have hit 200%+ in profits from the SBUX alert, as well as FB and others.


This weekend I have set a few more alerts for the up and coming week.

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In case you haven't heard, Elon Musk has made a twitter poll for whether he should sell 10% of his Tesla shares and it looks as if he will. As far as I understand it, 10% of his shares is about 2% of the entire company. Yet if he sells 2% of the entire company at market value, he has a buy back incentive as CEO, since he doesn't take a salary, at $6/share. Therefore, selling 2% of the company and paying $12B in taxes to Uncle Sam, will actually result in him buying back 9.2% of the company.


There is no guarantee that he will sell, or buy back, but I believe he will. Still, I think there is a higher chance TSLA drops Monday. Let's watch the pre-market and possible enter into some puts.


Even without the newest Elon tweets, TSLA is due for a correction. In January, I predicted TSLA would hit $1200 buy end of year, and now it is a little early. RSI also shows way overbought, but we don't need indicators to know that. The irony of it all, is that TSLA will probably pump to $1500 this week against what everyone assumes will happen because it is Tesla.

Positions


Open

EBON -6%


Closed

SBUX +90%

ZIM +0%


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New Alerts


AMZN has had a decent last week and it is approaching a glass top, if you will. I'm not sure if it will hold this, but I like put spreads (bear spreads) going into this week. AMZN is expensive, so try to go small until we know direction.


Overall, I like the company NIO, however disagree with their battery swap program. It is just to against what every other EV company is doing in China, and there are a lot of them. Personally, I prefer to just charge my car whenever I'm at a mall. Nevertheless, NIO has run up from its recent lows of $32.5 and approaching a YTD VWAP that I want to see if it resists further moves up.


I don't believe in BYND's vision. The stock has been having a difficult time as well. It reminds me of EBON. I'll buy puts off the 50MA.


TGT finally jumped out of the rut it was in a couple months back when we were having no luck trading it. If it pulls back to the 50MA, I'll get in some winter calls.


JETS has pretty great seasonality in the holiday season, not surprisingly. You can either pick your airplane to buy calls on, or just get the ETF. I'll take my chances for some quick money in this one. Last year this time, JETS ran up 35%. If it does something similar, it puts the ETF at around $28.

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Disclaimer: The comments opinions and analysis expressed herein are for informational and educational purpose only and should not be considered as individual advice or recommendations. Prostockadvice.com is not responsible or liable in any way for opinions expressed here. This is not meant to be financial advice as we are not a licensed financial advisor.

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