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TDVegas
TDVegas
Joined: Oct 30, 2018
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May 13th, 2021 at 3:27:02 PM permalink
So...let me understand this. Tesla buys Bitcoin, Bitcoin surges. Tesla stock drops on news. Tesla sells Bitcoin for a big profit. Tesla stock drops again. Tesla then says no longer taking Bitcoin as payment. Tesla stock drops again.

What exactly has Teslaís involvement in Bitcoin done for Tesla except wipe out billions in market cap?
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 13th, 2021 at 4:44:11 PM permalink
Quote: TDVegas

So...let me understand this. Tesla buys Bitcoin, Bitcoin surges. Tesla stock drops on news. Tesla sells Bitcoin for a big profit. Tesla stock drops again. Tesla then says no longer taking Bitcoin as payment. Tesla stock drops again.

What exactly has Teslaís involvement in Bitcoin done for Tesla except wipe out billions in market cap?

Having companies which are huge buying significant portions of BTC legitimizes it and stabilizes it some. IMO Tesla is riding on everything going perfectly for the stock to be so high as it has been. Every time there is bad news, their stock should go down, because the stock value is based on accomplishing great things like self-driving cars and driverless taxis. I don't know for a fact Tesla sold any BTC besides to do a liquidity test to see if they could sell it all if they wanted to sell it. I'm not sure if the stock did in fact drop because Tesla isn't taking BTC. There are reports about how the autopilot feature is being abused, a guy was arrested in California for reckless driving for being in the back seat while it was driving itself on a highway, and also 2 people apparently dying in TX allegedly the same way. I don't know what's true anymore in the latter.

Wiping out market cap, it seems Elon was responsible, but people just need a catalyst to act and who knows. All kinds of people must be worried day by day a big position will sell and they'll be in a correction. I don't know who sold as far as big wallets go, I don't follow that.
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TDVegas
TDVegas
Joined: Oct 30, 2018
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May 14th, 2021 at 3:45:30 PM permalink
Quote: onenickelmiracle

a guy was arrested in California for reckless driving for being in the back seat while it was driving itself on a highway, and also 2 people apparently dying in TX allegedly the same way.


More money than brains.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 14th, 2021 at 7:49:25 PM permalink
Quote: onenickelmiracle

COIN is bumping after hours. Guess they made 771 million. I didn't follow enough to know they were reporting earnings.

Update: Pretty much seemed to sell off at the open and fizzles off most of the day's gain. Closed at $252 yesterday, opened at $280 and $258 today.
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MDawg
MDawg
Joined: Sep 27, 2018
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May 15th, 2021 at 6:54:24 AM permalink
Friday was a nice run for AMZN, a decent one for TSLA too, among many other stocks that I hold long term.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
MDawg
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May 16th, 2021 at 9:34:26 PM permalink
Yes bitcoin is down again, but - so what? It's ridiculously UP compared to where it was, and this dip just allows more people to feel good about buying in, and will eventually break new ATHs and this will all appear as a blip on the way to 100K and beyond.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
MDawg
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May 17th, 2021 at 6:19:56 AM permalink
AMZN actually green in the pre- even though the Q and SPY are both down quite a bit.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
MDawg
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May 17th, 2021 at 1:33:42 PM permalink
TSLA 573 (actually, fill was at 572.96) to 574, then again 571 to 571.25 I had to leave after that second trade was opened and I didn't want to deal with it, so I lowered my sell to the 571.25 and later saw that it would more than have filled at the original 572. Still, +1250 - booked!

What I will caution anyone who is trying to short this market is - don't assume that because some stocks go down, that they are down for the count. There are a lot of buyers out there and everything Quality will go back up eventually.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 17th, 2021 at 1:45:49 PM permalink
Quote: MDawg

TSLA 573 (actually, fill was at 572.96) to 574, then again 571 to 571.25 I had to leave after that second trade was opened and I didn't want to deal with it, so I lowered my sell to the 571.25 and later saw that it would more than have filled at the original 572. Still, +1250 - booked!

What I will caution anyone who is trying to short this market is - don't assume that because some stocks go down, that they are down for the count. There are a lot of buyers out there and everything Quality will go back up eventually.


I don't know why it's news now, but there was a story saying Scion is shorting Tesla. Thought it was old news, maybe his firm upped the ante other than put options. I almost think there is nobody interested in selling below $560. When the stock gets close, it looks like it gets lost.
I am a robot.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 17th, 2021 at 2:04:40 PM permalink
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