Fun Fact #33
Did you know that Elon Musk (CEO of Tesla) has recently been sleeping on the Tesla factory floor to save time? And yes, Elon Musk is a god. Here’s the CNBC story.
Sorry for the late post today. Life decided to slap me in the face, but I decided to get back up and slap it right back. I figured as long as I update my blog before midnight Eastern Time, we are still good to go. I still have 30 minutes to go as of this writing.
Without further ado, let’s discuss some stocks! 😀
Although the major indexes didn’t drop much today, the smaller cap stocks like MU and SQ didn’t perform very well. Chinese stocks also didn’t do too well either as you can see from BABA’s stock price.
I think MU is looking good to buy in the 46-49 range. You would place your stop loss 3-4 dollars below the entry, and a profit exit in the 57-62 dollar range. Note that “SL” in the chart below stands for “stop loss.”
The daily chart of QQQ is below. Read the text below the chart for details.
As long as QQQ stays near or above 162, I think we see higher prices ahead. We are currently right at that level which is quite scary. Another significant red close tomorrow will probably make me bearish in the short term. Otherwise, I stay cautiously bullish.
On a final note, let’s look at Apple (AAPL).
Apple broke through a key support level of 165 today, but closed back above that level. Notice how the 165 level also corresponds with the 200 day moving average (the red, upward sloping line above).