TSL moved from 17 to 69 and retraced .618 of the move (see chart). Now, it's moving to my downtrend line to around $50/share. It will meet resistance at $45/share and the 50 day ema of $48.25/share.
The conservative investment buy is a bust of my downtrend line of around $50/share and a low volume re-test. Make it prove that it want to reverse this downtrend. So far, I would just consider this a bounce. A tradable bounce though.
Sold TSL today for a 25% gain. Thanks again for the TA. Held SOLF over the same period (6/14 to 7/2) for about 19%.
Since I post so many political posts, some think I have no interest in trading. Not true; it pays for my collection of Ramblers, lol.
Purchased large positions in ELP and FPL today. Your perspective on these two would be appreciated.
Little note yesterday on TSL.
theflyonthewall.com: Trina Solar-TSL implied volatility of 60 reflects difficult to borrow risks
TSL, an integrated solar power product manufacturer based in China, is recently up $1.93 to $41.12. COWN say's "Investment tax credit (ITC) provisions for solar will likely be passed as part of an omnibus federal energy bill by early September. Enhancement of the solar ITC should provide the next big leg up for solar stocks." TSL July call option implied volatility is at 54; puts are at 63; near its 7-week average of 60 according to Track Data, suggesting non-directional risk. TSL put prices are bid because TSL is difficult to borrow. :theflyonthewall.com
Yes, it would. And Prof. Darth, why don't you name a favorite charity so that some of your 'consultation' fees could flow in that direction from those of us who have profited from your expertise?
I prefer the United Way. I was a "loaned" Exec at one point. I was sitting at a United Way desk when I learned of the 1987 crash. I remember it distinctly. I wasn't in a charitable mood when that happened.
BTW, I'll be giving my profits on KMGB to the United Way or a charity of Metal's choice when he tells mee to sell my 500 shares.