In other words, he thinks the street is being more generous with their share price, I would expect this to head back to 320 within the next one to three weeks.
In my past experience, though I could be wrong this time, this type of run up, is indicative of a sell prior to earnings - not a buy.
See TSLA's move today - PT was put on this of 240 - Crazy valuations for TSLA and now the same with NFLX - I see Teslian move like today happening tomorrow for NFLX - not crazy downside though - more of a measured downside.
This stock scares the shxt out of me - already 5% move to the upside on a predicted 12% one way or other by analyst. One side is going to get hurt very badly tomorrow - I can't even tell which anymore.
Typically Market Theatrics - The institutions bid it up - nervous retailers get in and try to take advantage of the pump up, and while doing so, the Institutions are selling at 348/349 - but it will stay elevated to keep the game going - while selling out their position. I have seen this game over and over again, where a stock is bid up prior to earnings to get the max out of retail investors and then, it is dropped, and retail is left holding the bag. Could NFLX go higher, sure, but I think it is due for a slight pullback to the 290 - 280 area first - maybe 275.
all things considered - still one of the most amazing up moves in one day.
way out of whack.
because everyone wants it to go to 334 - its very top and a 8% move on the stock is overdone on very preliminary deals. I would expect this to regress back to 250. Not tomorrow, but within the next month. In the interim, if I was long, I would definitely be taking some profits today. If a debt deal does not get done, it could see 250 rather quickly. As the number 1 stock going up this year, it would have the most reasons to fall technically.
Even on a down day, it is making basically an earnings type move in a day and half - to me, this may not be a blow off top, but I would wager that we may (we may) see some retrenchment back to 1045 - 1051 area by Friday.
It did not get to 200 the first time it was being hyped to 200, in fact, it did a stark reversal. I see the same thing here. You will be completely blindsided if you do not sell before the close today or the first few days of October. The ONLY reason this is up is for fund managers to say to their clients, hey we have portfolio margin, so we can buy 5 to 1 vs. a retail investor to keep the stock up and keep a bid under - the average high net worth individual does not get it or understand it - and the govt is too weak, too low in numbers, and to stupid to figure out how to stop it - and so the game goes on. Don't get me wrong, great day to stay long for a while and probably through the end of the day, because the weak minded hedge funders must keep this on their books til the end of the day. But so as not to incite a serious SEC investigation, the selling won't probably start tomorrow, but it will begin in a day or so. Back to 175 by Friday.
Fund Managers want to show that TSLA is on their books. After tomorrow, expect a 12 point drop at the very least.
I perceive TSLA at 160 by next Friday.