Now, however, with the stock up nearly 10% to the 196 level and it is staring 199-203 resistance areas in the face... I would be tempted to take some money off the table on any longs. There is some good news out about Tesla backlog today now reaching out past 3Q, which implies strong demand for Tesla vehicles. Sometimes good news finds a way to put in a short term top. The opposite goes for short term bottoms - they usually occur in the face of bad news.
If you are going short here, then you are on your own. I believe I will look for any weakness from here to add to long positions.
Tim 3:44PM EST, Monday, May 19, 2014 195.90 last +4.34
Each day that TSLA holds up better than the market tells me that the sellers that are just overhead may step back and stop selling. TSLA absorbed some negative news too about Toyota dropping them since Master Toyoda sees no future in lithium ion batteries. Also, the Fisker has been rescued and will come back to market too, further pressuring the competition. I view all electric cars as a bonus to Tesla long term. It makes the adoption curve go faster.