By the way, the featured image above is not a meme or doctored in any way. It’s actually a snap of Musk talking live somewhere. Any resemblance to an actual farm animal is purely coincidental.
I have one short position currently (though I’d like to add more), and this is it.
I don’t like the CEO because I don’t like big mouths or over valued situations built on cults of personality. Therefore I had negative feelings as this pig pierced above the resistance zone that was my tolerance point. But for the same reason I held onto IRBT long yesterday (portfolio balance) I was able to hold this thing short.
This weekly chart shows the whipsaw above and back below what should have been – and ultimately was – ironclad resistance.
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