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A Whimsical Look At Planning For Boeing to Go Up On The Opening Next Week

Here we are at 2:16 p.m. and 2:28 p.m. on Friday July 18th. ..... ............ It's five day chart was somewhat range bound. In the last five day's it's had three spikes upwards. It seems to be positioned to spike up again. Now a quick paragraph on how the weekends serve as market reset points. Time for the beach or time to go hiking. Option traders need time out and time to refocus. Mondays and Tuesdays are days chasing hunches, Wednesdays are days to make epic day trades, Thursdays are days to be on pins and needles and facing the dread of picking "one-day" overnight option positions to be in on the close. Friday's between 9:30 and 9:45 a.m. are wild times to look for market reversals if that's what you like doing. Yes weekends are for times to unwind. Part of this time priod will inevitably involves leisurely looks at stock charts. This chart, to me screams that it wants to go up. Others may think the same way. One way to now try and play it would ...

Barron's Says

" Not much has changed for the power grid over the past couple of decades. The U.S. consumed about 4.2 trillion kilowatt-hours of electricity in 2022, a record, but overall demand has been sluggish - just 0.4% growth annually since 2000. About 60% of that comes from burning coal and natural gas. Another 20% comes from nuclear power, with another 20% from renewable sources..... Right now EVs account for less than 1% of total electricity demand.... All told, electricity use could grow by 2% over the next decade.... Production will also be increasingly decentralized. Utilities will still generate the bulk of the electricity, but it will also come from a Walmart store with a solar roof, a Telsa owner with a backup battery, or a homeowner with a standby generator." Telsa had a bad week for trading. Here is it's five day chart.
Telsa was down $18.60 on the week or 7.8%. It's getting to have a million pieces to the puzzle, with this week news of price drops in China and production problems in Europe. Fisker is also another EV company facing headwinds with the new realizations that production gains are a must to survive.
This at the same time of receiving awards.
Then there is Nio. Last week and the week before that it was the most actively traded stock by share volume on the NYSE. Look at how it traded in the past five days.
Even Ford got beat up.
What's going to cushion these blows going forward? Earning reports are off on the horizon reflecting yet another quarter of high priced vehicle sales. Yet these reports might also be full of some suprises. Remember my past blogs on the Canadian company Electrameccanica which hoped to produce three wheeled electric vehicles? Here is a five year look at it's chart.
Hopes for it's future are now dashed. It's no longer a going concern. Other early start EVs companies are succumbing to this fate.
Down but not totally out. Needless to say, the action in EV stocks has hit a rough patch.

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