☕ And bada boom, there was an adult in the room

Good morning! 👋 

I am completely blasted after a few weeks of intense market action, long days, and short nights.  So, with your permission, I’m gonna take a break this morning. 

To paraphrase one of my favorite Brooks & Dunn songs... 

... bout the only way to keep the fire goin’ is to outrun the wind. (Listen) 

Let’s talk Tesla for a moment. 

I thought Unka Elon may be capable of a hat trick when I wrote to you yesterday and doggonit, he pulled one.

Shares blew higher after his remarks. 

If you took action based on the trade idea that I published in yesterday’s 5 with Fitz, now’s the time to exit.  

Smiling is optional, of course. 

What’s next? 

Today the game will be all about burning out the FOMO crowd. 

I’m writing this late Tuesday evening, so I have no idea if that’ll happen before the opening bell or as a function of today’s trading (because chances are good that I’m still catching a few zzzz’s as you read this). 

Watch for an opening range to be established and tested in short order.  

Behind the scenes, big traders will likely be focused on “running the stops” - a nasty practice that involves moving prices just high or low enough to suck in limit orders that have been placed in advance by unsuspecting individual traders and investors who don’t understand what I’m telling you about how the game is played. 

The daytime session – meaning after the opening bell rings – will likely be all about “pin risk” and the price action will reflect another round of ping pong to catch anybody flying by the seat of their pants. Only this time around it’ll be to test how hungry or scared the herd is about a reversal. 

Then, traders will get down to business after the weak hands have been separated from their money. This is often when you see a strong daily trend form. 

Anytime you see price “hang” or open interest in option chains cluster at major support and resistance levels or near round numbers, odds are good that’s what’s going on. 

Take a deep breath if you're an investor. 

Unka Elon didn’t start taking stupid pills. He’s got a plan and communicated that very articulately at exactly the right moment. 

I just thought you might find what traders are thinking to be interesting, particularly if you’ve never been exposed to gamesmanship like what’s happening with Tesla lately. 

And with that, I’m gonna finally call it good, or at least an early morning. 

As always, MAKE it a great day! 

You got this – I promise. 

Keith 😊