the bad news for longs now is all the shorts have covrered....
Looks like shorts covered in the 150's removing the fuel that has taken the POS this far. Expect a pop on decent earnings that pro longs and institutions will sell into leaving the float vulnerable again to a renewed and more vigorous short attack. The POS will get to 120 one way or another.
Fidelity and TROWE were the two big holders of Q2 13F statements. Since Fidelity already sold 4 Million of their 13MM shares during Q3 and perhaps more during Q4 after the first fire - I suspect that they will sell more of what remains into any weakness. Some of their shares are a year or more old and are long-term. But many were bought during the run-up in Q1-Q2 during earnings and Sr. Notes ramps. So, they'd sell those first and many of those were bought in the 110-160 range.
Isn't it interesting that we are now at 162.50 - a number that the pps sat at from late August into mid-September where tens of millions of shares were traded. Just slightly above that good old 161.88 price target that was interesting for a while.
Can retail investors save the day when Tesla announces less than 6000 cars sold in Q3 next Tuesday? They will surely believe that they will magically sell more in Q4 to keep the story alive. The Vin # charting is telling a different story now and as such, will need full discussion during the ER conference call before any funds believe the future is bright.