Cover TSLA May 50 calls @45.0
Burned again! Like I said, the so-called defensive action I took, selling calls, has burned me on Boeing and now Telsa Motors. LEN isn't looking so good either. These things happen. I hate covering at a huge percentage loss, but I hate risking a bigger loss even more.
Adding to the gold sentiment is a New York Times article about how gold is losing its luster. Certainly after 12 up years and a move from $300 to $1900, gold is due for some down time. That said, I don't think this is the final top. Timing the moves is tricky. For those long term investors that are light on gold, this is a good time to add.
Long BA BRKB IWM LGF PG WFC TSLA
Net long KORS SPY
Net short APC LEN