by Gavin M.
We all learned pretty quickly last week that the Cult of Tesla is a strong one. Each time the chart looks like it's weakening, buyers stepped in with the help of institutions upgrading or reaffirming their price targets. It is amazing really the non-stop onslaught of bulls against the bears in TSLA.
So what do you do when you are bearish on this stock? Well, you go find something else to short. At this point it looks to retest ATHs based on nothing but pure faith. You do not even want to look at the fundamentals on this stock because it has a huge debt load. Underneath it all, it is also surviving on a huge government subsidy.
Much of Tesla's current price is based on the future success of a more affordable Model S whereby the middle class can afford it. I want to be pragmatic on Tesla and not make any predictions on their future products. But for now, price wants higher and you either go Long or go home.
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