Some hedge funds had made up their mind to liquidate their bank positions -- BAC seemingly in particular -- for the fear of oil loan defaults.
They've been selling in droves, hitting all bids.
BAC will retrace toward $18 once their liquidations are done.
Mortals can't tell how much they still have left to sell, so any day can be a bottom day.
Hold your positions if you don't need the money for food.
BAC is solid if you check their latestt numbers and guidance.
What does DT have against me, or BAC?
While they're at it, why not blame the Big Sur fire on Tesla as well?
All it takes is one greedy granny of some Congressman that buys into UVXY in hope of some quick profit and ends up losing most of her savings to make a big fuzz blaming us SVXY longs for her loss; and our gravy train will come to a halt by some new Congressional hearings.
SVXY is legal, ethical, and very profitable for those in the knows.
Keep the mean reversion and contango secrets among ourselves.
Instead, tell people the possibility that SVXY can go to zero overnight if VIX doubles.
What's good for the geese is also good for the gender.
Paul Walker was crushed and burnt to dead in a crashed Porsche, which was why the Germans were quick to clear TSLA to preempt an investigation. He could have walked away like that guy in Mexico, were he in a Tesla.
TSLA is by far the safest car out there, bar none.
Competition? What competition?
You mean the car guys that build BMWs etc?
Teslas are built buy aerospace engineers, which is why they're light years ahead of the car dummies, who are just not too bright. Look around you of the ICE wheels. They've been around for centuries, yet with few breakthrougns.
Don't neglect to look into the driver's background and connections.
When was the last time you or anyone see a tow hitch lying on a busy freeway?
The drive was likely to have accomplices that had planted the prop.
So far nobody's been injured.
The experience Tesla's scientists and engineers will gain from solving the (battery-fire) problem will earn TSLA many more critical technology patents.
TSLA is the early bird at the cutting edge of a new industry.
It's like INTL to PC, or Google to search.
TSLA is more a tech venture than a car factory like GM or BMW for that matter.
(I've been driving BMWs. Like them all. But my next passenger car will be a Tesla.)
Check out their patents. They are the key to TSLA's future.
The future cars should and will be designed by scientists and engineers from Silicon Valley, not hacks from Bavaria or Tokyo or Detroit.
I have no dog in the fight regardinig TSLA, but would like to see the SEC and FBI getting involved in investigating the incidents.
Why are there seemingly more battery cars -- mind you, Tesla battery cars only -- than gasline cars caught fire
on American roads? Gasline is inherently more flammable and gas tanks in paasenger cars aren't armor plated, unlike Tesla's battery pack.
Yesterday's non-stop behavior was caused by the snowballing effect when the stop-loss orders got knocked off one after another.
Today's selling is still heavy, with 6M shares traded (vs yesterday's 7M) and the day's still young.
No matter. If you're in for the long or mid haul, there's nothing to fear but fear itself.
The best thing to do for longs is to forget today.
The sellers that sold yesterday are continuing to sell today.
Let them exit. I don't care, and in fact stand ready to add more if it dips below 5.30.
As long as you hold on, your losses are not realized and will be made whole when SD bounces back.
Whoever were doing the big selling yesterday may not done selling yet.
The tell: On daily basis when the price builds up to a point, e.g. earlier at 5.34, some large sales will come through and take it back down a bit to 5.27. It's now at 5.39, and may dip down to 5.29 again.
When you see this, don't let it mess you up and doubt long decision.
Just hold on. It will pass.
SD shall has it spot in the sun in due time.