CSUN isnt a junk company. The over-riding problem was silicon supply which was expected to clear up in 2008, that was the problem with this company. SOLF had the same problem...Both CSUN and SOLF had some notable scientists and researchers, incredible growth, but they were both overleveraged and depend upon the supply of silicon. Either they are to go out of business or they resolve their supply problems. However, we are now nearing 2008 which means...the supply problem might be over soon. Solar isnt going away. You cant simply string copper wires across some of these developing countries. If you have been to Asia, India, Middle East or South America, then you know the problems they face in terms of power. The only solution is solar panels. Look at the chart and tell me if its a bullish or bearish...What do you see?
no matter what CSUN's position is, it doesnt make it an automatic buy. Looking at the chart you put up, quite frankly it looks overbought right now and I expect it to lose 40-50% of it's value in the next few days. It will be a fantastci buy around 7ish.
I love this stock. I saw the gap down on CSUN this morning and then saw the volume picking up. Got in 5000 shares around 16.9. Just dumped at 17.8 for a nice profit for the day. Thats daytrading gentlemen. Have a happy weekend!!!
Good trading on CSUN, made the same trade with smaller shares and less profit. $16.50 was a super entry, right at the support. $16.9 is a good exit to0, right at the top, well played dude.
Feel free to post your trading on the Chinese ADRs thread, tons of Chinese stocks to play.. http://www.elitetrader.com/vb/showthread.php?s=&threadid=113018
You could go short on CSUN too, it was hard to borrow last week, today I've no problem to borrow shares on CSUN.