Discussion in 'Stocks' started by konviction, Feb 3, 2010.

  1. Can I get a swing traders analysis/ opinion on these please?

  2. All 3 have somewhat similar chart formations in the last month or so.
    X and CSIQ were pummeled and are far off their highs of last August, but all seem to be finding some support in their current areas.

    I'd rank them as CSIQ, X, and then CAAS in my order of preference.
    CSIQ has a stronger weekly chart than X, but their daily charts look almost identical. I would put CSIQ on a 2-4 month time frame with a target of mid-30s and X would be longer 6-9 month to give it some time. Also, since clean energy is sort of a buzzword these days, I'd say a solar company might be a bit more likely to come in to favor as opposed to a steel producer.

    In the bigger picture, the SP500 looks tired, so that would be a strong current to swim against if it turns , especially for X.

    Depending on your time-frame, in the near-term, I might even consider a short on X and CSIQ, which could be played with fairly tight stops.

    In all cases, I'd probably use a smaller than normal position, since it's earnings season and who knows what the Gov will cook up next. I usually prefer to use some sort of option spread (CAAS isn't optionable) to limit my downside risk or even outright long option positions with a tight stop.