I entered FXP today under 37.2 and am holding through the weekend. I like that it stayed above ema13 today.
I was unable to take part in the afternoon solar rally. However, I really like solar right now. I recorded great returns recently on ESLR (notice it is still using ema13 for support) and am looking for more. Maybe Monday 
So, for now, I’m sitting on FXP and cash.
Take a look at these charts and two things stand out – EMA(13) support, and nearing horizontal resistance. You can apply this to almost all solar stocks – they move as one. I’m looking for a few of them to test horiz. resistance with volume and then I will likely jump into JASO or ESLR for a short term (hopefully) breakout play.
JASO – horizontal resistance at EMA(50)
ESLR – horizontal resistance at $3.62
FSLR – horizontal resistance at $160
TAN – horizontal resistance at $9.50
I still feel pretty good about solar as a bull trade on up days up until Obama inaguration. After that, who knows. I’m buying on dips and selling on the volume moves. We shall see how it goes… if solar down Friday, I’m not likely to play until next week. These stocks MUST hold EMA(13).
My DUG trade played out really well for me – up over 11%. I probably should have held as it appears to still be strong with more possible upside on Thursday. I also exited CLR above $25 this morning to secure good profits.
So, that’s it.. I’m 100% cash. I might take tomorrow off from trading – I have other work to do this evening, so I won’t have much time to research the market.
Happy Trading.
I wish I had more cash to play with… Sunday I picked the following stocks for short term bull trades:
Ticker
Friday close
Tuesday close
Gain %
CSCO
16.96
17.79
4.7%
AMD
2.38
2.78
14.4%
HERO
5.01
5.75
13%
STEM
1.41
1.60
12%
AMLN
10.96
12.15
9.8%
IP
12.42
12.52
1%
EOG
70.39
71.12
1.1%
AEO
9.91
10.82
9.3%
Ok, as predicted, solar stocks stalled out today – many of the best solar stocks follow FSLR which retreated 2.5%. I sold my position in ESLR this morning for a great one week return. TAN (solar ETF) stalled out at EMA(50) today. I do expect, however, for solar to continue back up as early as this week.
I’m still holding CLR, but will likely take some profits tomorrow.
Bought DUG today under $21. I believe oil will drop a few bucks over the next week sparking a nice move in DUG. We’ll see.
Sold AMAT today over $11. I have no idea why I did that – should have held out for more upside. Oh, well.
First, and foremost, Texas Longhorns play in about 45 minutes, so I need to get through this as soon as possible!
A look at the stocks I’ve been watching over the last 5, or so, days:
CLR – I’ve been in CLR since Dec 31 and I have been quite happy with the moves. My gut tells me that I should have sold today and that oil will pull back tomorrow triggering some profit taking. Chart shows it is still bullish, but past short-term entry point.
ESLR – I entered this one in late Dec, as well, and am sitting on huge returns. Like CLR, I didn’t sell today, but have a tight stop since solar stocks appear to be slightly overbought in the very short term.
AMAT – hitting hard against EMA(50). Still holding
Others that I’ve been watching, but do not have position:
Monday’s Watch List had a really good day with AMD leading the way.
Gotta go – football is starting
OK, the last week has been quite bullish for solar stocks and I was lucky enough to get into ESLR early. However, as a day trader, I think I’m out for a few days. All of the usual suspects, ESLR, SPWRA, FSLR, CSIQ, etc. are all priced outside of the top bollinger bands and extended past recent resistance ( EMA50 for most). I do think we’ll see more upside to solar… possibly this week, but I can’t enter here. Looking for a pullback to EMA50 for most in this sector – I want to see if it provides support before I jump back in.
Austin native and University of Texas grad with a love for stock trading, graphic design, social marketing, movies, and the outdoors. I also have a burning entrepreneurial spirit and a constant desire to learn... latest adventure - www.bullsonwallstreet.com
