Vicious Gap Reversal

That was a huge gap and crap that we experienced yesterday.  One of the classic, the coast is clear, let's bid them up on first trading day of week only to get smacked down later in the day.  That first hour move hour was a giant fake out which ended up luring in bulls for the intraday slaughter.  Haven't seen such a big gap up being sold since last summer.

It is a new ball game, we no longer have don't ask, don't tell moves higher.  Bears have finally grown a pair.  It was about to happen on Tuesday but there were no greater fools to be found above 1672.  The boundaries have been marked, 1680 will not be taken out without a huge fight.  We are in near nosebleed territory now, the air is thin. 

TSLA continues to prove it is the strongest stock in the universe.  It transformed into the Incredible Hulk about 2 weeks ago, it is one of the few fail-safe stocks to own now.  There is a trader's premium on top of a high valuation for a stock with buzz that can go up without having to show profits.  A huge bonus in this moribund economy.  Momentum money is starting to give up on NFLX and older momos that need to show profits to go higher.  Long TSLA, short AAPL(x 2 to make it beta neutral) is like shooting fish in a barrel for the next 3 months.