Archive Category: Max Profit Alert Archive

The Wall Street Journal ran a piece yesterday with the headline: “Half-Price Tesla Stock Is Still No Bargain.” It included a number of points about the company — and the pricing of its stock — that I’ve written about since I first recommended a bet against the stock in early July.

There’s no Max Profit Alert update today. We’ll continue to hold our seven positions for now, and I’ll contact you immediately with any actions to take. I’m actually at my publisher’s office, getting ready to record something special for you. I can’t spoil the surprise just yet, and you know I’m not one to play the hype game. But I thought I’d let you know…

I’m not recommending you make any moves this week. We have seven open positions, which is a “full boat” for us. And while we aren’t exactly in a profit-taking cycle at the moment, I still think we’re properly positioned in a balanced mix of both bullish and bearish plays. For instance, you’ll see in this week’s Leaders & Laggards Board that the technology and consumer discretionary sectors remain in bearish downtrends.

Happy early Thanksgiving! Remember, the markets will be closed this Thursday. So put the trading account down … and spend some time with your family! The Money & Markets team and I will be doing the same. But before we get into that… I want to personally thank you.

Based on the price action exhibited by shares of Tesla Inc. (Nasdaq: TSLA), the “bear case” I laid out in early July is still valid. Let me show you… On July 26, I shared the TSLA chart below, highlighting the potential “head and shoulders” pattern it seemed to be forming at the time.