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Momo Market Roundup, 11/1/2021 – TSLA Marches On, and We Call BS on AMZN 

 November 1, 2021

By  spectre_trades

TSLA Continues Its March

Tesla (TSLA) continues to look unstoppable. If you took those 1000 calls for November 5 at $5 when we were talking about them a few weeks ago, they're now worth almost $200. From $5 to almost $200. Let that sink in.

Some traders have been going short on TSLA, betting that the historic highs can't hold. But the stock remains crazy strong, partially fueled by rumors about an upcoming split, and those shorts are getting trapped with no chance to get out.

Instead, I have a hunch TSLA might gap up to 1300 this week. We're rolling up long but taking profits on lower strikes along the way.

AMZN Is Full of It

We got a great indication to go short on Amazon (AMZN) in our premarket prep.

Yes, it spiked after its earnings announcement like Google (GOOG) and Shopify (SHOP) did ... but the crack team at Edumomo noticed that it didn't close Friday in the green compared to the previous day.

We smell a bullshit move to the upside, and we're ready to go short if the stock fails.

The Market Consolidates

We're seeing this crazy market of the last few weeks consolidate after the SPY crested in the vicinity of 460. In theory, we're set up to see 500, possibly by the end of this year. We're also bracing ourselves for a selloff in Q2 of next year.   Overall expecting some chop this week ahead of the FOMC.

The Accelerator Course is Almost Here!

We've talked about this forever, and it's finally here!

My magnum opus ... the Edumomo Bible ... 

We're about to launch the Two-Hour Trader 12-Week Accelerator!

Imagine, twelve intensive weeks to learn how to work only two hours a day, making your income, freeing up time, and building your legacy ... all by building a winning trading system that you can follow like clockwork.

Stay tuned! I'm beyond excited to show you what we've been working on so hard.

Member Trade of the Day

Jay Trades gets the "Sleeping Beauty" award for the day. He slept in and missed the opening bell, and he still managed to ride TSLA long to an 8% increase in his account for the day. They say the early bird gets the worm, but I guess there are just a lot of worms in the Edumomo soil.

spectre_trades


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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