Premarket pricing, especially in the absence of any news, means nothing. As I type this volume traded is exactly 4620 shares- insignificant.
I'm short again around $54.6. Today's trading was rather odd from 2PM onwards as this usually volatile stock just hugged the $54.2 mark with only around 800K shares traded in the same time period. I think this might be a short term downward inflection point but we will see tomorrow. The overall market was certainly strong enough for FSLR to rocket upwards and it did not.
Shorted today. Short term trade. Good company but price has gotten a little ahead of itself in my opinion.
There is no way to tell. Its always possible that the same market makers/institutions were playing both sides of the trade. The market is not set up favorably for retail traders to make money, which is why so few day traders are successful.
I used too trade FSLR a lot. Just started to again after the last price surge. Made a nice profit on 2 short trades today. Got greedy on the 3rd (should have called it quits after the first 2). Another 2-3 points to the upside and I'm out. There is no way I'm staying short Into to earnings unless I pick up some calls as well.
I day traded FSLR profitably twice today, both on the short short. I got a little greedy towards the end of the day when I initiated another short position. I'm playing with the houses money at this point. I definitely have no intention of staying short going into earnings (which probably means it will plunge).
Even if Icahn did buy into FSLR, you need to keep in mind that this was a $46 stock barely a week ago. The fact that it is up 20% in such a short time period means that the short term risk is to the downside. I have a small short position around $54. My goal is to exit this position in the next few days profitably. Long term, I'd be wary of shorting this stock since solar use is obviously growing. If I'm wrong' I'll gladly take a loss and move on. We all lose from time to time. It's part of trading.
The bigs boys ARE the shorts and day traders. The price action on any stock on any day has absolutely nothing to do with any retail investors or traders. These so called big boys you refer to can just as easily take away your money on the downside any time they want. Being a smart trader involves deciphering their "footprints" and hopefully getting on the same side of the trade as them more often than not.
My experience tells me that when a stock is up this much a few days before earnings any "good news" is already priced in. Buy the rumor, sell the news. FSLR will see $50 before $60 in my opinion.