Looks like the market is embracing the results so far; head over to SlopeTalk to listen to the earnings call, which starts at 2:30 PST.
Tesla’s Tuesday Turnaround
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Oh, Andy…….
One of the richest and least-known people in the Silicon Valley is Andreas Bechtolsheim, who was my business partner and investor for my company Prophet. I was sad to see a prominent story in this morning’s paper about how he was caught trying to hide a $415,726 profit from insider trading. He’s had to pay a financial penalty and is disallowed from serving on a public company for five years.
It’s important to put this into perspective. I did the math, and while $415,726 is a big figure to folks like you and me, proportionately speaking, it is $7.51 to Andy. I’m not trying to be cute; that’s the real figure. So, he’s permanently damaged his otherwise spotless reputation over an amount of money which, to you or me, is equal to a beverage from a good coffee shop.
That Fabulous Fib
I haven’t messed around with Fibonacci retracements in weeks, and it occurred to me that, with all the market action over the past month, it was high time to take a look. My jaw just about hit the floor when I went to the /ES chart and applied a simple retracement. Check this out:
Small Thoughts
Below is the ETF for small caps. I think there are two logical points of resistance, marked with arrows. The lower one constitutes the horizontal base of the topping pattern. The higher one is much more powerful, since it is not only a major price gap but also a major Fibonacci retracement level.
