Been trading very consistent and big positions own the market lately as the stock market touched a supply zone at the moment. Wild swings, volatility and fear is gyrating around the market sentiment with rising interest rates, inflation and recession. Most traders were staying on the sideline while others like myself is still taking calculative yet smart bets so as to make more profits. I was just sharing about Tesla on my blog yesterday about the stock split and today just came the news that Elon Musk just sold another 7.92 million worth of Tesla shares worth $6.9 Billion.
Tesla shares looks ripe as the uptrend looks to bend anytime soon. Profit taking appears at the area where Elon musk is cashing out big with his Tesla shares. With this piece of bad news, it looks like the stock might gap down today especially as of now, there was no reason why he sold the shares. When trading Musk stock, one must be alert and nimble because he's an eccentric business man with a genius stroke of touch in everything he does. It's hard to guess what he's going to do next and that's why I prefer trading his stocks and not investments.
Well, this month alone and we are talking about the 2nd week of August, I have traded more than $170 million worth of stocks and it's still counting. I set a goal to trade $40 million per month and it's now ballooning huge because I am laser focused on the goal I want to achieve. Trading can be tough at times no matter who skillful are you but let's just say if you obsessive with winning, nothing should come short your way and with Tesla being such a high profile volatile stock, a trader must be super mindful and alert to know what he/she is dealing with. Let's monitor what's going to happen next with Tesla and tonight's CPI data is crucial for the market to move big time up/down.
picture source: bloomberg, reuters
