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VRA Letter: Concerned about USD and Rates; This Too Shall Pass. Tesla: Company-Changing Quarter. Must-read Quotes from Musk

Good Thursday morning. Most of our focus in this mornings Letter will be about Tesla’s monster Q3 earnings report ...which has the shares jumping 14%...along with the conference call with Musk and team that followed. Included in ...

Posted On October 24, 20246 MIN Read
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Good Thursday morning. Most of our focus in this mornings Letter will be about Tesla’s monster Q3 earnings report ...which has the shares jumping 14%...along with the conference call with Musk and team that followed. Included in the call were juicy details and quotes from Musk like this one; “Tesla will become the most valuable company in the world, by a long shot.” With what’s happening at Tesla right now, I’m only surprised at people that doubt him. 

But first, yesterday’s market action was on the ugly side, featuring interest rates and US dollar that continue their counter trend move higher. However, as we’ve been covering this week, in both these Letters and our Podcasts, “this too shall pass”…the primary trends will soon kick back in.

Our View: with both the USD and rates hitting our most overbought designation of “Extreme overbought on steroids (EOBOS)”, it remains our confident view that both of these short term hurdles are only working to give us another “buy the dip” opp...

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