Monday, June 17, 2013

FSLR Add to or new Position?

I like FSLR for a trade, I'll be adding to the July 45 Call Position. I'm thinking $52 and perhaps >$58 are not unreasonable targets, so you'd have to decide whether it's worth it as a long equity position.

First I want to show the real danger in FSLR and this bridge will come...

 The 60 min chart, this is FSLR's real future beyond these trades, long term. FSLR is in trouble with the rest of the market, but for now...

The 10 min leading positive is very impressive.

As is the min and 5 min trend. I've said to a few members today, "Wait for a pullback", well...

Here it is, moving toward the gap, but with positive divergences which is what we want to see when buying a pullback.

I'll likely add here, you may want to consider a phased position, adding some here and some if the gap is filled of better, but that can't be averaging down, it has to be part of your risk management plan before you even open the position.

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