Bull Markets are awesome. Not enough people enjoy them. People worry about everything but the trend.
A setup is a setup in a bull market. If you take enough of them consistently, a bull market will make you money.
Institutions have to eat and Wall Street has a beautifully short memory.
Today, Tesla exploded at the open.
Just 6 weeks ago I started buying Tesla $TSLA. The boo birds were out in force. I used to be one of them when Tesla went public. I paid up nearly 80 percent from the IPO price. I am still winning. Wall Street can’t value stocks any better than you or me.
I did a full Momentum Monday in mid February on Linkedin (long) and Tesla.
Nothing has changed today, except we have much higher prices. I am booking 25 percent of my $TSLA gains at $44+ and would likely add it back at $40 ish.
Others are adding to it today. There is no right answer, just managing your money according to your risk profile. I see Tesla as extremely volatile.
Where do I do most of my homework…of course the Stocktwits50 list which Ivan and I share every Friday. The list is not as important to me as the work that went in investing and trading to finally get to a style and strategy that made the list possible to create.
Tesla is not on the list, but may just make it finally this week. No list is perfect but eventually all great stocks show up on all-time high lists.