- TSLA, A BUY; or a SELL?
CGTS Algo Trading System
CGTS MONDAY: NICE RALLY FOR TECH. DOES IT HAVE LEGS?
Mar. 09, 2021 10:30 PM ETAAPL, BLNK...
- Health situation today. May limit my production for the next few days.
5301.786939.508604.9810548.0411797.15 - SECOND LEVEL OF SUPPORT
12629.9 - FIRST LEVEL OF SUPPORT
12794 CLOSE TODAY. It sure looks like a bottom.
I had a bit of a medical emergency today, so this report will be short and basic.
Did you guys buy TESLA? Up 20% today. We will talk about this later.
Not everything is positive. Look at the change of COUNT1 state in our 3x portfolio. We have described our COUNT Systems as a roof designed to cary a load of snow. It will hold until it does not hold. As long as the SELLING puts more snow on the roof, the more stress on the roof.
Look what collapsed in our COUNT1 System in our 3x Portfolio.
WEBL crashed into SHORT; CWEB did the same; SQQQ, SHORT NDX, has flipped to BULLISH. FNGU, FANG STOCKS Bullish, flipped to BEARISH. BRZU, BRAZIL Stocks BULLISH, flipped to SHORT.
We closed these positions. It shows the extent of the stress in 3x issues, which are 3 times more volatile than most issues. BUT, TESLA, which we called a BUY yesterday, also flipped to BEARISH, even with today's 20% gain.
Also note YINN, CHINA Stock Bullish, also flipped to BEARISH. Does this suggest CHINA is heading lower?
Did our diagnostics improve after today's buying surge? Yes. But remember, our system did not break. We have remained bullish.
CROSSOVERS: still bullish.
EARLY-WARNING SYSTEM: No change here. But all the short-term gauges improved.
Disclosure: I am/we are long BLNK, CLSK, TSLA, WKHS.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.