FSLR TRADE IDEA

First I already have an FSLR Sept. $38 call open, I REALLY like this one though.

I'd consider either adding to the call or initiating a new one with a lower strike.

I'd also consider this as a suitable equity long if you were just interested in the stock, in that case I might even start accumulating now and phase in hopefully at lower prices, NOT DOLLAR COST AVERAGING, this has to be part of your risk management before you ever enter the position, not a reaction to get out of a bad trade.

I don't think we get too many more shots at FSLR and as I said yesterday, if yesterday was about continuing Tuesday's divergences, today is about sorting out the timeframes and getting them in to place for positions, FSLR looks to be doing that.

 Intraday 1 min FSLR looks like a pullback is in the cards as it has already started, the signal looks like a deeper pullback, but it's a skin deep signal.

At 2 min, there's nothing negative so only the 1 min is negative which makes determining the bottom of the pullback difficult, this is the reason I would consider "Phasing In" to a position like this.

The 5 min chart shows clearly where the accumulation zone has been, but if they can't get it that low, they'll take positions in the area.

The 10 min chart looks even better. You can see how a market maker does their job and knocks price down when it strays too far from the accumulation zone, they are graded, paid and get more business based on the fill they get for their clients (usually around VWAP) so you'll see this kind of stuff frequently, there's a lot of noise in the market and then some important events in between, most people think the important events are the opposite of what they really are, like FSLR moving lower is bearish, not true here.

The 30 min chart shows that this appears to be more than just a bounce move, it looks like this one can stand on its own feet with or without the market.

This is the hourly chart, I doubt the two bases are connected, but they could be, all I know is the recent one looks good, it's more than enough for me to consider this a priority long for a market bounce and maybe then some.