Live: Wednesday, Aug. 8, 2018

11:25 a.m. New York time

SPY pulled back from a high yesterday that could mark a significant turning point int the Elliott wave analysis, but not necessarily. I shall be waiting for the market to work out its path and anticipate no trades.

Yesterday afternoon, for the enjoyment of doing the analysis, I took a look at TSLA, running a long-term Elliott wave chart that suggested that the price was moving as expected, not being pushed into a surprising direction by Tesla CEO Elon Musk’s tweet saying he hopes to take the company private..

This morning in Seeking Alpha, I ran across a smart analysis of the business and regulatory realities of privatizing Tesla: “Tesla: Separating Fact From Fiction“. It’s a good read.

By Tim Bovee, Portland, Oregon, Aug. 8, 2018

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.


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