Covestor manager Jesse Barkasy has traded his own accounts for 24 years and has worked as a professional trader for 13 years. He describes himself as a “trend follower and chart reader.” Barkasy manages Covestor’s Trend Following model, which
uses trend following and chart reading techniques. The model will take big risks investing large portions of capital in some situations.
Current top holdings include the Direxion Daily Small Cap Bear 3X Shares ETF (NYSE: TZA) and the Direxion Daily Large Cap Bear 3X Shares ETF (NYSE: BGZ). On 4/4, Barkasy closed a position in Tesla Motors (Nasdaq: TSLA), the electric vehicle company.
We covered the recent Morgan Stanley bullish note on Tesla, which is a must-read for Tesla investors (video with the analyst is below). Also, Tesla recently announced:
electric Roadsters in more than 30 countries have now covered over 10 million real-world miles, the greatest collective distance covered by any electric vehicle maker to date.
Roadsters have collectively saved 500,000 gallons of fuel and over 5.3 million pounds of carbon dioxide emissions. Over 1,500 Roadsters have consistently outperformed the best traditional supercars worldwide, to the delight of their owners.
Rougemont on Seeking Alpha recently wrote about the riskiness of TSLA:
I think the risks and challenges are being greatly underestimated by current Tesla investors. The very fact so many people believe that Tesla has the same potential as Apple and that these two companies are frequently talked about and compared in the same light makes me believe some people are not being realistic. I would like to point out that I haven’t seen Apple people trying to compare Apple to Tesla, but I do see Tesla fans and shareholders trying to compare Tesla to Apple.
…
This honeymoon is possible now because it’s easier to talk about rosy sales and profit goals as the Morgan Stanley analyst does, rather than achieve them. Soon, I believe this “grace period” will end, and Tesla will have to start delivering on all these goals. When the grace period ends, and investors get back to concerning themselves with things like valuation, profits, etc., it won’t be so easy to make the type of projections that are being made some investors and analysts right now.
On the other hand, this CNBC interview with Adam Jonas, Morgan Stanley analyst, discusses why he upgraded the stock:
Sources:
“Tesla Roadster Drives 10 Million Miles and Counting” Tesla Motors, 3/28. https://finance.yahoo.com/news/Tesla-Roadster-Drives-10-bw-2343622731.html?x=0&.v=1
“Tesla Bullishness: Putting the Cart Before the Horse” Rougemont. Seeking Alpha, 4/4. https://seekingalpha.com/article/261659-tesla-bullishness-putting-the-cart-before-the-horse?source=yahoo
“Tesla: Hedge against Oil?” CNBC, 3/6. http://classic.cnbc.com/id/15840232?video=3000014985&play=1
