I'm Shorting Elon And It's NOT Tesla Or SpaceX

 | Aug 26, 2015 02:07PM ET

The SolarCity Corporation (NASDAQ:SCTY) has lost well over 50% of its value since last year; so Elon Musk is probably feeling a little bit desperate (he now owns 20.8M shares of the stock). Just a couple of days ago he made a big stink about buying up SCTY shares with his vast, vast fortune. Well, I took the rally as my opportunity short the stock.

After all, it’s got a glorious broken triangle that spells nothing but doom ahead.