[TSLA] update

At the backlink  whose title was "Sell the Dead Cat Bounce" I posted this model.


From there it went down to around $180 before bouncing back to the same level as that late October post.  But now we see that a kiss of the 61.8 fib has completed with a rising wedge.  That's a setup for reversal folks.  I'm modeling that peak as red 2.  If this is correct it should reverse downward with shock and awe and probably with some gap of some sort.

Let's not get confused between making cool cars and being a good gamble.  Tesla is a very dangerous stock to own at these levels according to my model.  After all, how many people can really buy a $100k car that only gets 200 miles of range.  Great for young bachelors living in the valley I'm sure but not too practical for very many others.

Still, it's the wave count that guides my model, not some value estimation of their product or projection of sales.