Had been adding shares here and there for $F and $GM and at one time I was up on both. Had some dividends reinvest. Will deploy the money in trades with tight stop/losses and continue to buy my monthly paying ETFs, especially those built on small emerging markets or global markets. $NIO I only kept one share to force me to focus on the China EV space. China is a closed book for me as well.
**I’m done with EVs at this moment. I’ll come back when we’ve reached bottom, and the bottom ain’t here. It just dropped out this week:
1. Tesla - once had the market to themselves and was King of Cool
2. Twitter - destroyed by the man who used it for years to advertise his cars - and vapor distractions - for FREE
3. FTX (and all the attendant bankruptcies downline.
A quick slide pack from CarBuzz discusses what Musk has done to the Tesla brand in just a couple of short months:
Probably a good time to view a mass of car charts and EV related companies, including battery companies, charging companies, etc.
$F daily, weekly, and monthly charts (Deciding factor to dump $F here for a small loss? The weekly chart.)
$GM daily, weekly, and monthly charts. I don’t intend on buying any EV names (or Autnomous Driving stocks) until I start seeing bullish crossovers of EV names on their weekly charts. (A bullish crossover on a weekly chart would entail the 17 EMA crossing above the 43 EMA. Meanwhile, supports look ready to be tested here as we saw on the $F charts where the supports broke down. Somewhere in 2023, I expect to see analysts suddenly wake up to Waymo/Cruize and other autonomous driving softwares which are already being used in geo-fenced cities in America with mixed success. Yeah, revenues are coming in for autonomous driving, but what are the costs? I’ll be fixating on that going forward.
$NIO daily, weekly, and monthly charts