Weekend October 9, 2017
An article in the WSJ for Monday Oct 10 suggests it is time for Tesla to get honest with its shareholders. Only 3 a day of the new 'affordable' models have been completed. This misses the lofty goals set by Elon Musk. Meanwhile the stock has a market cap of$60 B with no earnings.
Musk has been touted as the can do guy given his Space X success. But the reality is that he is not delivering on the affordable electric car. See my post on Friday about electric car reality. I am wondering if this reality check will have investors exiting TSLA stock in a big way. And I am wondering how that would affect the bullish attitude towards the rest of the market.
WTIC
As previously mentioned the test of this uptrend line should occur by mid week. There is not much else to say until then. I have thought the low is in place at $42.
Transports
Transports are really strong. Yes over bought once again with PMO topping. given the traditional seasonal weakness of October this may be setting up for a needed correction.
denislelam@gmail.com
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