OPINION

Massive Short Squeeze Coming For Tesla?

Charles Payne
Charles Payne  |  Oct 18, 2021
The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.

I am loving the action today. It's subtle, but it is the kind of beneath the surface action that's telling.

  • Bond yield higher but growth stocks act good
  • Supply chain constraints but Consumer Discretionary top sector
  • Lots of walls of worry and the market trying to climb them all 
  • Semiconductors act great

Utilities and Healthcare are laggards today as the risk on trade resumes.

S&P 500 Index

+0.19%

 

Communication Services XLC

+0.60%

 

Consumer Discretionary XLY

+0.88%

 

Consumer Staples XLP

 

-0.36%

Energy XLE

+0.32%

 

Financials XLF

+0.04%

 

Health Care XLV

 

-0.70%

Industrials XLI

 

-0.01%

Materials XLB

+0.05%

 

Real Estate XLRE

+0.36%

 

Technology XLK

+0.40%

 

Utilities XLU

 

-0.65%

 

There were more downgrades this morning than usual, but actual sell ratings are back to pre-pandemic levels.

To see the chart, click here.

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Tesla (TSLA) is one of the stocks to watch this week- big Wall Street shorts failed to jawbone the stock lower - it might be the mother of all short squeezes this week.