Still the Same

by JDH on May 19, 2018

I will keep this short, because it’s a long weekend here in Ontario, and we all have better things to do than worry about the markets.

Tesla continues it’s implosion.  I sold all of my puts, at a nice profit, so I currently have no position.  Tesla appears to have a base of support around the $275 level, so I will watch, and if Elon Musk tweets something about wanting to crush the shorts and the stock pops up $20, I’ll buy more puts.  It’s a simple play: buy puts on the way up, and sell on the way down.  I see no hope for Tesla not going bankrupt, so we sit and wait.

As for gold, it was not a pretty week, and gold is now trading close to its low for the year (although still higher than where it was a year ago).  The US dollar has been strong, so gold has been weak (in US dollars).  No worries, I see this as an accumulation opportunity, but a slow one.  There’s no rush.  Put in your stink bids on the stocks you want.

That’s the update.

Enjoy spring.

See you next week.