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.
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.