Today was a difficult day in the market.  Especially around Tesla (TSLA) stock.  If you haven’t heard yet, Tesla’s CEO Elon Musk was on a Twitter rampage today.  It all started around 1130am when Elon made a tweet that said that said “Tesla stock price is too high imo”.  Once that tweet hit the wires, Tesla stock cratered around 70 points after already being down 20 points for the day.

Is guy crazy?  Some may say yes, but this is not a blog about Mr. Musk.  This is a post about how that tweet tanked the stock price and at the same time tanked my P/L.  Over the past 2 days I have lost close to 4 figures on $tsla stock.  Once Tesla reported earnings, the stock immediately popped up to a price of around 869. With hindsight being 20/20, that was the time to sell and sell hard.  Buying a single put at that time would of netted you at least 10k.  The stock reached a temporary low today of 683 today.  In my opinion, I feel it’s going lower.  But thats neither  here or there.  I’m out a lot of money as this is easily on of my largest loses in a while. I think my second largest lost is in Tesla as well.  I have recently made a boat load of money in the stock.  I think that’s what got me comfortable being in the trade and trying to nurse it while I’m losing thousands.  Being wrong is one thing, but staying wrong is the problem.  I was the problem.

Instead of just selling this stock, I tried to nurse it for a small lose.  Once Elon Musk tweeted, it was all over.  I was left holding the bag.

I won’t go on and on writing about what happened on this post because all that’s written here is in the video.

So please enjoy it and hit me up if you have any questions or if you simply want to console me for my losses.  Remember, I’m on Instagram and Twitter @dretrades