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T3 Sentiment Survey: Why Is Tesla Loved LESS?


Welcome to the result of our weekly sentiment survey! As a reminder, our survey measures traders' opinions on 6 different instruments:

  • The S&P 500
  • Bitcoin
  • Apple (AAPL)
  • Tesla (TSLA)
  • Gold
  • Oil

We use a 30-day time horizon to get a sense of traders' near-term expectations for the market. 

This week, you'll want to see what's happening with Tesla (TSLA)! Scroll down to see the details...

Trader Still Love Stocks

The stock market's been remarkably stable despite concerns about the Fed, interest rates, earnings season, and the global supply chain crunch.  

Yes, we had a scare in early October, but it didn't last:

As you can see, bullishness increased from last week, which is no surprise given the market's strength.

We went from October scare to a parabolic move straight up.

The Bitcoin Love Is Back

Bitcoin bullishness stabilized last week, following the October 21 Flash Crash on Binance.us.

Traders Grow More Cautious After Apple Earnings

Apple (AAPL) stock got roughed up on Friday after the company's disappointing earnings report, so it's no surprise bullishness slipped a bit from last week. 

Traders Love Tesla LESS Despite Record Highs

Tesla (TSLA) has been RIPPING since earnings, as you can see on the chart:

And the stock is actually up another $40 to $1154 on Monday morning as we write this.

Yet, bullishness on Tesla is slipping. It seems like many traders believe Tesla has gone too far, too fast - which is quite common for high-octane momentum stocks.

We have to wonder if this means Tesla has even MORE room to run.

Because if there are doubters, that may mean the crowd is not yet "all in" on the stock. 

And interestingly, according to Yahoo! Finance, the average price target on Tesla is just $779. That's $375 BELOW the current stock price.

Gold Still Gets No love

Gold is still the least-liked asset in our survey, and that's no surprise.

Previous metals have been some of the worst performers in 2021. Just take a look at a year-to-date chart of GLD:

Here are the major metals ETFs performance year-to-date:

  • GLD: -6.6%
  • GDX: -12.0%
  • SLV: -10.1%

Meanwhile, the SPY is up 22.8% and QQQ is up 23.1%.

Ripping Oil Stocks Keeping Traders Bullish

Traders remain bullish on energy, and that's no surprise.

Crude oil is up +73% year-to-date.

Plus, XLE is up +51.6% with OIH right behind at +36.5%.

That makes them the top 2 performing major sector ETFs of 2021. 

Make Sure Your Voice Heard

Want to make your voice heard in our weekly surveys? Click here to join our panel.

Within the next few weeks, we'll introduce a historical database so you can do your own analysis!

Thanks for reading!

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