My Tesla Strategy This Morning


SPY had a nice active sequence as it cleared $382 & $386 to ignite a move to a high of $399.10 Friday. We'll see if it can digest above $392.50 after Friday’s resilience.

I sold SPY calls higher late last week to use as hedge, and I'll continue to do that into strength.

QQQ played some catch-up as it cleared $266 to see a high of $281.22. Friday. Now we’ll how it digests. If it can hold $276ish or higher the next day or so, it would be constructive for higher prices.

Now let's dig into some individual names:

TSLA absorbed some complicated news last week and came off the lows. I bought some this morning around $123 as it showed relative strength. If it can get and stay above $125.95, there's room to $130ish. Use a tier system.

AAPL reclaimed the $129-$130 area and seems on the way to $138ish. $134.92 is pivot resistance.

META’s been my best swing this year. It hit $137+ from $122. Now we'll see if it holds $133-$134 to set up again.

NFLX ignited January 4 and  cleared $298ish to see a high of $336 Friday. It found support at the 8 day the entire time. Earnings are on Thursday. It’s a tricky setup now.

AMZN did a Red Dog Reversal around the $83.07 pivot January 6. It was tradable up to the dip buy on Friday when it hit $98.37. I took my trade off a little early. It held $93ish and as long as that holds, some will stay with it.

Scott Redler's positions disclosure as of 2023-01-17 at 7.42.27 AM

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