I am readying my money to plunge again if it goes down below 270. This time, I will place limit orders for $265 and $260. Waiting for next opportunity!
If you see the one year low it is 244.59 , but one year high 387.46. I do not expect this stock to go below $240 now. Getting TSLA at less than 250 is very low chance. As long as I get any stock at 10% above the 52 week low, I feel better margin of safety.
Sample: The way I do is GTC X shares for 265 and then GTC with another X at 260 and then another lot 2X at 250. Whatever it hits, I keep as I do not know how low it can go.
Same thing I did with MU, grabbing at $42.95 to 44 ranges, just get any stock within bottom 10% of 52 week low.
Simple reason (Margin of Safety) is that I stand to loose 10% likely, but stand to gain 90% likely. It is all statistics/probabilities way.
During these purchases, All I need to see is whether the company is making good progress fundamentally or not.
MU - Sales/results are better than last quarter, TSLA - based on dispatches, results are better than last quarter, similarly for AAPL and TEVA.
This is where I am skeptical on FB, the future qtr are not so good like past qtr (as hinted by Mark Z). I am staying away from FB.