TSLA Update – December 11, 2017 …

TSLA just took out the prior pivot high that I was talking about last Friday (click here).  I have begun positioning for the next move lower by selling Dec 29th $355 calls.  I have started small as is typically the case and will add to the position over the next couple of days.  I received a credit of $0.90/share.  I typically also day trade/follow a stock more closely while I am waiting for the pivot high and change in trend direction to get underway in earnest.

I will be tweeting/posting when I become more convinced that the new trend direction has begun.  The stock may stay elevated until year-end, but I don’t think we are going to get above $350 before year-end.

Cheers … Leaf_West

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