 What's up trade hackers welcome to today's update today's Monday, July 6th starting with the question of the day But I'm sure a lot of you are wondering What the flip is going on with Tesla? Let's go to the platform and take a look so Tesla trading at over $1,300 a share up over 13% just today. I mean talk about a parabolic move I mean you see something like this That starts to catch your attention now looking at a this is a one-year chart Remember we had that that parabolic move Back here before the all the coronavirus started hitting and of course Tesla went down with the rest of it I mean just a few months ago. We're talking about Tesla in the three hundreds Just a few months ago three hundreds now. It's at 1,300 so Just quite a move. So what's driving this thing? Well, I mean anything you read I mean, you know last week they come came out and said that they delivered more cars than than what Wall Street estimated They delivered 90,000 cars instead of 86,000 But does that really warrant a move like this now? I mean this this thing is just one in one of those situations where it looks like it's a short squeeze You know Tesla is one of the most shorted stocks out there and when these shorts get squeezed Well, what do they have to do? They have to buy back their shares to cover because it felt too much pain which in turn Catapults this thing higher so it sure looks like a short squeeze Of course, nobody really knows if that's specifically the case or if it's actual buyers coming in to own the shares But I mean you look at you know J.P. Morgan came out today and said it's kind of the latest catalyst said that They're raising their price target from a thousand dollars a share up to 1500 and that pushed it higher as well But man, what a what a parabolic move, you know, one of the other things that With Tesla is of course, it's a car company, right? And which by the way now it's the most valuable as far as a market cap goes the most valuable car company in the world It just passed Toyota as the most valuable car company. So pretty crazy stuff for for a company That's only what 13 14 15 years old pretty amazing story Even back here, I think it was I think it was in this little dip right here We had a couple little down days or may have been right here any one of these You know Elon Musk came out and tweeted and said Tesla's stock price is too high, you know So had about one or a two-day dip when that happened and then I guess I wonder what he's thinking now He sure hasn't come out and said anything since then along the lines of his of his stock price So interesting stuff, but keep in mind, you know, Tesla is like I said, it's still in its very early stages as a company and You know, I think it's more about what the technology is going to end up being for the for the world Not just the car I really think the car is simply just a model to To show off the technology that they're using with the batteries and in everything else That's that's involved with the Tesla, but a lot of that technology is going to bleed into other Completely industries that whether it's into your home or other types of travel and things like that So so I think I think it's really still just in its infancy now Am I telling you to go out and buy Tesla right here? No, absolutely not In fact a little bit more of this and I'll be looking just to take a quick short term Short position using of course to find risk vertical spreads that kind of thing But I mean good for them I mean, I think it's a great story. I think it's a great company. I think it's a cool a really cool technology But interesting to see how that is treating the stock price All right, what else is going on? Well, it is July 6th We are past the just past the end of the second quarter Which means here in a couple weeks all the big boys are gonna start announcing their quarterly earnings announcements So usually mid-July is when that kind of kicks off banks are some of the first one Then tech starts to jump in so I'll be posting in our community I'll be posting kind of the earnings dates for some of the upcoming Notable earnings announcements. So look for those Look forward to trading some earnings announcements, you know We took we took last quarter off for the most part with all the the volatility with the COVID-19 coronavirus all that stuff going on Plaid volatility was just so high There's so many opportunities everywhere that you didn't really need to trade earnings now They ended up, you know with the strategies that we trade they would have ended up performing pretty well But I just I felt like the risk compared to the reward at that point was a little too steep And so we we didn't really take many earnings announcements, but I do look forward to to trading some earnings this upcoming cycle So look forward to that if we take a look at the markets today I mean here's kind of some of the notable stocks. I mean almost everything is green You've got a couple red Macy's which that doesn't really matter. I think they're gonna be going out of business. Anyway Shopify was actually down, which is a little bit surprising They've been kind of a rally horse and some other, you know, wind down tiny Walmart down tiny if you look at the Market watch tab on toss if you look at the s&p 500 89 declining 411 advancing I like to actually drill down a little bit even further and just look at the s&p 100 Which is the largest 100 stocks. So you got 93 advancing only seven declining You know most of which are our energy type companies. So pretty pretty solid rally here We had today the s&p's up 42 Dow up 420 NASDAQ up 244 and the Russell kind of the lager of the bunch Only up 10 points and so the the small caps have been weaker recently and they continue Continue staying weaker bonds pretty flat. They were down a little bit more Earlier in the session Natty gas up over 5% so decent move higher Grains a little bit higher and the euro a little bit higher So that's what's going on in the overall market as far as individual stocks goes already mentioned Tesla That's that's the big big daddy of the day But like I said everything green everything up to three four. I mean Amazon's up 5% a $3,000 stock moving 5% in a day. I mean, that's a that's a big boy move as well So Amazon starting to get a little parabolic as well It'd be interesting to see what these quarterly earnings announcements look like if this is a In anticipation of blowout earnings and then it's gonna kind of fizzle out or are they gonna be so good? That it's just gonna blow the roof off. We'll see everybody have a great evening talk to you tomorrow