Tesla resale values

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Comments of the Day

25 August 2020

Eoin Treacy’s view

Some of the topics discussed include: Stay at home stocks underperforming, recovery shares outperform, gold and nasdaq ease, lumber pulls back gasoline and natural gas pop no the upside, global markets steady.

Email of the day – on gold versus tech

Some people think that technology shares and gold are correlated. Why would this be the case for such different asset classes?

Do you think if the Nasdaq drops that precious metals will as well?

Eoin Treacy’s view

Thank you for this question which may be of interest to the Collective. On an historical basis there is little correlation between technology and gold. For instance, tech did very well in the 1990s while gold languished. When gold took off in the early 2000s, most tech shares spent most of the decade ranging. When gold peaked in 2011, many tech shares were on the cusp of completing those long base formations. So, what’s changed?

Tesla resale values

This graphic from Bloomberg may be of interest to subscribers:

It’s early, but there are signs Tesla Inc.’s Model 3 could be as exceptional in the used market as it has been in the new-car world. The sedan has sold at volumes no other electric vehicle has come close to reaching, turning Tesla into the most valuable auto company in the world. Car-shopping websites still have small sample sizes to work with, yet so far, the Model 3s are retaining much more of their value than their small luxury-vehicle peers and they’re selling quickly once owners list them for sale — on average just 29.3 days from March through June — according to iSeeCars.com.

Eoin Treacy’s view

I took a test drive of a Model 3 and a Model Y on Saturday. It’s a pleasant experience. The acceleration, as reported, leaves every petrol driven car in the dust. For that reason, Tesla makes a big point of differentiating it product offering based on 0-60 times. I can’t fathom how anyone can really tell the difference between 3 and 4 seconds to 60 miles an hour in a city like Los Angeles where speeds of 30 miles an hour are the norm outside of the lockdowns.

Laura expected to reach Category 2 strength; Marco continues to weaken

This article from the SunSentinel.com may be of interest to subscribers. Here is a section:

Tropical Storm Laura’s forecast has it at hurricane strength on Tuesday and Wednesday. Laura’s predicted path as of 5 a.m. Monday had it making landfall near the Louisiana-Texas border late Wednesday or early Thursday.

But by Friday, Laura was “expected to produce rainfall of 5 to 10 inches, with isolated maximum amounts of 15 inches across portions of the west-central U.S. Gulf Coast near the Texas and Louisiana border north into portions of the lower Mississippi Valley,” the National Hurricane Center said.

Both storm tracks are unusually close to each other. If and how the two storms will interact with each other are highly uncertain, forecasters said.

Eoin Treacy’s view

This year has set records for named storms and there is still a couple of months left in the hurricane season.

Eoin’s personal portfolio: last updated on August 11th

Eoin Treacy’s view

One of the most commonly asked questions by subscribers is how to find details of my open traders. In an effort to make it easier I will simply repost the latest summary daily until there is a change. I’ll change the title to the date of publication of new details so you will know when the information was provided.

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