A Bearish Setup on EV Giant

The SPY index was strong in April and May.

Now we’re at a point where I’m hesitant to go with bullish positions. I explain why in today’s video.

Plus, I have a new trade based on an upcoming vote for Elon Musk’s pay package with Tesla (TSLA).

Click the image below to get that setup.

Elon Musk's New Deal and a Bearish Trade Setup

Logo

YOUR ACTION PLAN

The Tesla board votes on Elon Musk’s pay package on Thursday and I’m looking for a move down into that event. As you’ll see below, I have a bearish 130-minute chart and an A+ bearish setup in SAM. Using the 6/21 $170 puts, I’m looking to entry near $175 and a stop on close over $180.

Tesla (TSLA)(Click to enlarge)

For more trade setups like these, I recommend joining me in Daily Profits Live. Right now I’m in the middle of a 100-day trading sprint – all due to one of the biggest market movers in recent memory – artificial intelligence. But I’m not interested in the future of AI, instead I’m interested in what’s going on in AI right now.

Click here to learn how my AI spread trading strategy could deliver gains as high as 295% overnight.

P.S. I love answering your questions. It’s the best and most rewarding part of my gig. If you have a ticker or chart you want me to break down – or just a general trading question – please email me at feedback@monumenttradersalliance.com. I’ll let you know my thoughts on a few submissions in a future video.

Trophy

TESTIMONIAL TUESDAY

“In (SOFI) @ 0.20, out @ 0.02 for a 90% win! (in 124 days) Thanks Karim.”
– SpacemanSnoopy

“In (CRM) 6.50 and out at 8.38. 28% gain in 2 minutes. Nice way to start the day. For once I scored on one of these quickies. TY Bryan!!!!”
– Lance

“MNDY 5/17 230c in at .71 out at 1.30. +83% gain (in 1 trading day). Thanks Nate.”
– JerryT