Tesla (TSLA) Tuesday was a one/two punch to the shorts in the stock.

First, the news the Saudi Sovereign Fund had built a position. Key word, ‘had'.

Then, remarkably coincidentally, Musk's tweet about ‘considering taking TSLA private at 420.'

I don't believe in too many coincidences in the market any more than hope is a strategy.

Coincidences happen sometime. Hope works sometimes.

But it's the short straw.

TSLA spiked from 345 to 387 on the coincidence that was charged with hope.

TSLA is ‘pulling back' now.

Perhaps normal considering the spike; however it's flirting with undercutting the 345 pivot.

The tweet saw TSLA breakout on the hourlies at 355.

TSLA is back to 355 as I write.

If there are buyers out there the expectation is they would step up to the plate here.

Otherwise, it may be a case of another false breakout ala the mid-June push to new highs

Earlier this week prior to TSLA's spike we flagged that a 360 degree move up from the recent 286 low is 358 with a typical 90 degree throw-over pointing to  377.

180 degrees in price down from 358 (and 180 UP from 286) gives 322. Interestingly this ties to an open gap on the August 3 earning's report.

One can't help but wonder whether this entire iconic escapade was really a 1 2 3 punch with the earning's ‘move' immediately preceding Tuesday's crash test dummy drive by on the shorts.

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