How Jeff Danced With Elon

[RagingBull All-Access] Dear trader, Most rookies look at the huge runup in Tesla (TSLA) and say, “It’s time to call tops.” Jeff Bishop took a different angle — he went long the stock. [Image] (He was inspired to throw down some of his own moves while Elon Musk danced like your drunk uncle on stage at Tesla's Shanghai Gigafactory). [What Jeff has learned from experience]( is that often when stocks have such a big move, they don’t fall quickly. In fact, they tend to take a pause for a few days and then make another run higher. In this issue of All-Access, we’ll walk you through our Raging Bull CEO and MENSA scholar’s genius thinking behind this trade — and how it netted him $32,000 in gains. By the way, his next highest conviction trade [drops here on Monday.]( [Image] One of the most important technicals that Jeff looks out for in [his Total Alpha service]( is short interest. And when stocks see such a big run-up, there tends to be lots of short interest. Translation: Lots of guys are betting against the stock— each tick higher puts them deeper in the hole— eventually causing them to cover their position—creating further buying pressure. Jeff chose to buy call options in TSLA because the stock was creeping up all day and in the last hour it made a new high above the previous high from the recent consolidation. Here’s what he wrote to his subscribers a day later: "TSLA Jan 17th $460 calls for $9.55 (Up 3.9%) - This is a short-term swing trade I entered yesterday. I’m not planning to hold this long. Tesla’s making a bullish pattern here that I expect to play out in a matter of days. Classic breakout-type move as it moved past a previous high of $450 in late trading yesterday. Sure it is overvalued. Sure it is late to the party. I’ve learned to ignore that and follow price action. My stop is under $440 and I want to see $460 on the upside.” In other words, Jeff got his signal that the stock was ready to squeeze up again. And sure enough, it did! [Image] Jeff calls this play his “launchpad,” and his subscribers will be able to follow along with [even more plays just like it]( very soon. [RagingBull All Access Today's Top Stories] [Current Market Outlook]( By Jeff Bishop of Total Alpha [Image]( While many traders have been fretting about which way the market is going to move next, Jeff Bishop stuck to his consistent strategy this past week and captured a $32,000 gain. Of course, it’s been anything but a smooth ride for the markets, which is why Jeff is paying particularly close attention to the charts right now. In this post, Jeff walks us through what the charts are telling us about a potential reversal in gold, a smackdown in crude oil, a downtrend in bonds, and a double bottom in the VIX. [Continue reading…]( [3 Rules to Follow When Markets Get Volatile]( By Jason Bond of Weekly Windfalls [Image]( The markets are all over the place. While the markets started the New Year off strong in classic “January Effect” style, many traders had their butts handed to them when recent geopolitical tension hit the news. Following the assassination of the Iranian general, gold and crude oil got a bump while indexes dipped. Given these recent unfoldings, Jason Bond put together an explanation of three things he’s learned about positioning during unpredictable markets. [Continue reading...]( [5 Steps to Emotion Free Trading]( By Jeff Williams of Penny Pro [Image]( Every trader occasionally gets knocked down in the market, no matter how skilled or experienced they are. Tough losses, as well as fears that prompt us to make bad trading decisions like buying/selling too early or too late, can be quite hard to avoid. For Jeff Williams, the solution is using a proven system that he can trust. In this post, Jeff walks you through his simple 5 step system that completely takes the emotions out of trading. [Continue reading...]( [Stop Letting Fear Paralyze Your Trading]( By Ben Sturgill of Daily Profit Machine [Image]( The markets make some people so anxious, they lie awake all night debating their next trades. While the markets are full of many twists and turn that we can’t always predict, we don’t have to lose sleep over it! That’s why Ben Sturgill took some time to walk us through some of the most basic psychology on trading fear. This includes fear of the known and unknown, fear of being right or wrong, fear of missing out (FOMO), fear of losses, and fear of giving back profits. [Continue reading...]( To your success, The RagingBull.com Team RagingBull, LLC 62 Calef Hwy #233 Lee, New Hampshire 03861 United States [Stop receiving exclusive emails from RagingBull All Access]( Neither RagingBull nor RagingBull.com, LLC (publisher of RagingBull) is registered as an investment adviser nor a broker/dealer with either the U. S. 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