Tesla trade?

February 23, 20249 Comments

I’m on Bloomberg BNN MarketCall this coming Monday February 26th at noon. Its a call-in show, and I’m happy to answer your questions on individual stocks, or discuss Technical Analysis techniques.

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BNN MarketCall: Monday February 26th at 12:00 noon

 

Believe it or not…

You guys know that I’ve been beating on Tesla (TSLA) stock for more than a year now. Even my recent “Avoid Thematic Investing” blog used this EV bellwether to illustrate that industries woes.

Surprise! While I am still mid-long termed bearish on the stock, I recently published a video on why I think TSLA is presenting a neartermed potential trading opportunity. My marketing editor contacted me when seeing this and said “But I thought you don’t like that stock!?!” She’s right, but I do think there’s potential for a neartermed pop.

Obviously, such a trade is for short termed traders only. But still, I think the neartermed technical argument is impressive.

The video is short n’ sweet. Less than 6 minutes of your time to hear my argument for what might prove to be a nice little pop before the bigger downtrend resumes. I think you’ll enjoy it:  Here’s the link. 

Don’t trust government funded media

Yes, this affects you as an investor. Propaganda is not just for communist countries. It shelters us from decision making intel on our investments. For example…

The NDP recently proposed an act that would technically apply to any Canadian who is found to be speaking well of the oil industry, or of oil generally. “It is prohibited for a person to promote a fossil fuel, a fossil fuel-related brand element or the production of a fossil fuel,” reads the act

Media bias

After hearing a CTV discussion recently attempting to underplay the Supreme Court decision regarding the unconstitutional use of the emergencies act during the Freedom Convoy in 2021, it reminded me why we need be wary of a media that relies on a government for its lifeblood. Recall–there are 600 million reasons why there is bias.

Facts according to state funded media only, please

“There are the conspiracy theorists … trying to do everything they can to … prevent people from agreeing on a common set of facts on CBC and CTV,” Justin Trudeau, Feb. 2024 – re: government funded media

Same old song…

“All effective propaganda must harp on these in slogans until the last member of the public understands what you want him to understand.” Randolf Halter 

Note: Despite being subsidized to the tune of $1.3B each year by taxpayers, CBC continues to see viewership erode. In 2024 it initiated another 800 employees layoffs.  This, while rewarding their management with $100 MILLION in bonuses.

Similarly, despite multi-million dollar subsidies by taxpayers, BCE Inc. has made another sweeping round of layoffs at Bell Media,  while also selling off 45 regional radio stations. Your tax dollars hard at work.

9 Comments

  • Have you told Craig yet? At 44x diluted trailing earnings and no growth expected in 2024 it seems like a stretch. But hey it’s Tesla so anything can happen and Kathy Wood will help keep it up. I do see your point about the chart and it may catch a bid. I see some resistance around $215.00 and then room above. I will use play money only on this one. Cheers.

    Reply
  • Absolutely agree withe your thesis on media bias. You have presented facts and those are un-refutable. Canada is on a long slippery slope downwards that seems to be accelerating. Scary times to be a Canadian.

    Reply
  • “If the press cannot mold our every opinion, it can frame the perceptual reality around which our opinions take shape. Here may lie the most important effect of the news media: they set the issue agenda for the rest of us, choosing what to emphasize and what to ignore or suppress, in effect, organizing much of our political world for us. The media may not always be able to tell us what to think, but they are strikingly successful in telling us what to think about.”

    Michael Parent, Inventing Reality: The Politics of Mass Media

    Reply
  • After reading that maybe it’s time to punt BCE. They are a quasi government agency with all that taxpayer money.

    I stopped watching or listening anything from CBC.

    Reply
  • Hi Keith, I’m a fan of your market analysis for sure. Just by way of clarification, it was the Federal Court that ruled on the use of the Emergencies Act. That decision has been appealed by the feds to the Federal Court of Appeal. Once the FCA decides on the case, their decision (whatever it may be) is likely to be appealed to the Supreme Court of Canada.

    Reply
    • Yes, of course Trudeau will continue to use our money in courts to defend their very much politically motivated use of the emergency act.

      Reply

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