Tesla’s first Model 3 to roll off production line this week, says Elon Musk
Tesla Inc. is set to begin production of its first Model 3 all-electric sedan on Friday, earlier than expected, according to the company’s chief executive, Elon Musk. The vehicle has “passed all regulatory requirements for production two weeks ahead of schedule,”
Musk said in a series of posts to Twitter late Sunday. In March, Tesla TSLA, +0.24% said it was on track to begin making the first Model 3 cars in July and to deliver them to the first customers at the end of the year. Once begun, the Model 3’s production rate should ramp up “exponentially,” with 100 sedans to come in August and more than 1,500 in September, he added. “Looks like we can reach 20,000 Model 3 cars per month in Dec,” Musk said.
Elon Musk Sets Tesla Model 3 Production, Delivery Dates; Stock Futures Up
Futures for the S&P 500 index, Nasdaq 100 and Dow Jones industrial average rose early Monday morning ahead of a shortened trading session. Tesla (TSLA) CEO Elon Musk tweeted Sunday night on the West Coast there will be a “handover party” for the first 30 Model 3 sedans on July 28, adding that production will ramp up to 100 in August and above 1,500 in September.
That met his Friday promise on Twitter to provide “news on Sunday” regarding Tesla’s next electric car.
Cars Will Soon Be Obsolete Like Horses, Leaving Tesla’s Elon Musk to Dominate Our Lives: Top Analyst
Loup Ventures’ Gene Munster said conventional cars will soon be as obsolete as horses with the monumental advent of Elon Musk’s Tesla (TSLA) cars, CNBC reported. “The Model 3 is important, but what’s more important is this bigger shift. Every Tesla that is shipping today is going to be fully autonomous in what Tesla is saying two years,” Munster said.
This year Tesla passed General Motors (GM) in market cap, making it the most valuable U.S. automaker. Munster also noted the opportunity to bet against auto parts retailer suppliers O’Reilly Automotive (ORLY) , Autozone Inc (AZO) and Advance Auto Parts (AAP) who have “an old way of doing things.”
Why the Rich Get Rich and the Poor Get Poorer
The story you are about to read is true. None of the names were changed to protect the players.
If you’re on the wrong side of break-even, I’d recommend shutting your cellphone for the next 20 minutes. Your view of trading and the stock market is about to change.
The charts won’t change, but what you’ll see is different.
For over 93 years those who understood order flow, profited handsomely by interpreting price action revealed on the tape. I’ve been told by clients that tape reading gives them a “second sight.” Everything changed when they elevated from chart reader to tape reader.
When you see what’s was missing, when you see behind the tape, trading will never be the same.
Many traders hear “tape reading” and think it reeks of old-school methods no longer valid in today’s 24 hour, global market. These same traders risk precious capital on trades they see on Fast Money, Jim Cramer or on StockTwits. Maybe you’re one of them.
On the Tape Today | 7-3-17
JPM-JPMorgan Chase showing solid momentum in an industry that woke up recently. An inside day set's up a new swing trade with $94 as the initial target. The ultimate target is $100. Game planning a $92 buy stop and planning to add on a pause @ $94. Stop loss comes in on a close below $91.
Stock market price action should be light today, a half day in case you weren’t aware. (1 pm EDT close)
Create a game plan for a normal day, but be aware of your position size as the day wear on. Volume and liquidity dries up after 11 am. If you plan to day trade, make sure you are watching the clock. I have witnessed many traders stuck in positions they can’t liquidate at a reasonable price.
$242.50 is the level to watch this morning in the SPY ETF. If it holds as resistance we could see some further selling. If not, we are back into the trading range and back to stock specific ideas.
Trade smart today. No reason to push your leverage if volume is light. The first 90 minutes should be decent trading. Financials seem to be perking up, quite a few breaking out of a trading range with room to go.
Stock Market Today:
Stocks to Trade | 7-3-17 Monday Edition
Bullish Momentum: NKE, CAR
Bullish Order Flow: PSX, LULU, VLO, LUV, TSO, JPM, BA, UNH, BABA, AET, MCD, C, RH, AMGN, CAH, LLY, FSLR
Bearish Order Flow: nfx, stx, bbby, khc, aoc, hds, tgt, hal, slb, rost, fl, clr, rspp
Double Normal Volume: MU, NKE, OKE, CARA, CBI, HAIN, CRZO
Inside Day: msft, csco, aapl, jpm, c, fb, xom, orcl, baba, ebay, kr, qcom, ms, sbux, slb, wba, wmt, gild, atvi, m, jnpr,
tsla, nflx, mo, dis, dal, symc, tmus, abbv, cvs, met, gis, tgt, crm, stx, ma, uaa, amzn, pm, ea, luv, kss, adbe, ba
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