Tesla Trend Change

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Yesterday, Tesla slumped nearly twenty bucks on the second strongest volume in its history as a public firm. My view is that the incredible run-up has stopped and that traders are going to take on a defensive posture. Today’s bounce is just that – a bounce – and I think prices will weaken again. Earnings come out August 7th, and given the stock’s still very-rich valuation, the numbers had better be shockingly good.