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Morning Brief- 11/11/21- Elon Musk and Tesla

Inflation data came out strong yesterday, and we continued to see a similar pattern. the 10 year yield spiked, the market tanked, and gold continued to climb. This pattern seems to be the norm over the last month, as government spending isn't going to stop, more money continues to be printed, and the dollar continues to lose value. All anyone really wants to know, is when is the system going to break. When will the scale be so heavy that it tips, and the market craters, possibly into a crash circa 2008. However, we aren't there yet so let's see how to navigate the market today.


#TSLA finally saw a little bit of a rebound yesterday, rising back to a 4% gain, before selling off close to the day's end. Elon's tweet is responsible for the 25% sell off over two days. His brother sold hundreds of millions of shares, a day before Elon sent that tweet. I really wonder when the SEC will actually finally do something about his constant market manipulation . Elon did manage to sell over 5 billion dollars of Tesla shares, contributing to the huge downswing. If he follows his word, he has another 5 billion more to unload, which will continue to put downward pressure not he stock. The question is, when will he big funds start buying the dip and will ARK finally get back into their TSLA position.


#AFRM had earnings yesterday. As I said in a previous post, there was a lot of upside, as I expected them to beat earnings . Affirm took a beating over the last few days after hitting a 52 week high ~175. It was trading all the way down ~131 yesterday. I said a bull call spread could be the play here, and I loaded up on a 143 call yesterday . I sold out 180 calls, 205 calls, and bought a 170 call as well. Pre-market the stock is at 168, and was up to ~178 post market yesterday. I also have sold puts at 106, 117, 120, that I put on yesterday as the stock continued to dip. This could be a big win, one that I really needed, for today .


Let's keep an eye on these stocks, and #DASH as the stock spiked huge after earnings, but seems to be selling off as people profit take. Best luck trading and always feel free to reach out on INSTAGRAM: day trading_traveler or email me info@daytradingtraveler.com with questions or comments. And don't forget to subscribe for free beginner courses and daily blog alerts.




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