Customer Deposits on Balance Sheet:
1Q14 $198 million
2Q14 $228 million
Increase $30 million
X Reservations increase during 2Q14 per TMC tally:
Siganature 161 x $40k = $6.44 million
Production 4,265 x $5k = $21.325 million
China 785 x $ 25k = $19.625 million
Total Increase attributable to increase in X reservations: $47.030 million.
If those counts are accurate, S deposits decreased by $17 million in 2Q14 (some part of which were RHD Sig deposits). IMO, this doesn't bode well for sustained growing or even flat S deliveries as expansion to new geographic markets is exhausted--to say nothing of X cannibalizing the S deliveries.
All securities eventually trade based on fundamentals. If fundamentals guide your investment decisions, be patient and use LEAPS.
This is why they do not print reservations by model. I do think they will stop giving out sequential reservation numbers for Model X soon. They did that back in Q1 of 2013 when the US orders per day dropped to 20/day. Keep in mind that right now, TMC shows the US MX Production rate is roughly 25/day, world a bit over 40.