Does anyone here have an exit strategy for FSLR they'd like to share, I bought at 55+ and get the feeling it may be setting up for dip as mutual funds et al position themselves for end of Q2. I've been burned both ways: a) by holding too long and b) by selling too soon Been reading the posts here for awhile and consider them to be more valuable and educational than most trading websites. I'm a part-time trader hoping to one day do it for a living and consider any response worthwhile. Thanks
Here are the rules: 1) You buy when the price goes up and sell when it goes down. 2) Never buy all at once, never sell all at once. So lets look at the chart and look whats happened in the past. Now the past isnt a guarantee of the future, but its a statistical representation of what might happen in the future. http://stockcharts.com/h-sc/ui?s=FSLR&p=D&b=1&g=0&id=p20936134565 This is a simple chart. When there is a big red candlestick down day, then there has usually been more red candlesticks to follow. Usually, the price seems to follow a certain trendline. At this time, I can honestly say that FSLR is way overbought and it could turn around at anytime. In fact, that does look like a short hanging man on the chart. I have suspicion it will go to 105 though... I would adopt a simple approach to this chart. You should sell when you see a big red candlestick or an obvious break in the trend-line. Not all, but in part. If the price continues to decline, then keep selling. When the price appears to have bottomed and is bouncing up, then buy. Again, not all but in part and keep buying each day as it goes up.
Mike, thanks for the feedback, this sort of reinforces what I know but have a hard time actually doing, I seem to have an all or nothing mentality when it comes to exiting a position and it has seriously cost me on some good entries. Let's just say I need an exit strategy alignment. Hope you're right about the 105 but if not I'll be 50% out if it closes at or below 84.50.
Thug, thanks, perhaps a little lucky but I'll take it. My main concern is to not blow my exit as I have in the past. Seeing 90s today. Good Luck with your trades.
I have been watching this stock since 55-60 a share, now above 90. I think it goes to 100+ by early July. Its been extremely strong.
I think its time to take a little off the table today, maybe 25% worth. Big red candlestick after a good run (5 or more days of up volume) and I think we should see another down day on Monday.
Hang on to the FSLR shares. CSUN just came out with a press release that states the silicon supply is tight. FSLR is bullish as long as the silicon supply is tight. I am certain FSLR will go over 100. In reference to your original question about taking profits. Honestly, I cant figure out how high this will go. There is no signs of it slowing down. In my last post I said to take profits, but I didnt expect the CSUN release stating the supply was going to be tight. Everyone else has stated softening.
I actually incorrectly felt the momentum pause and sold half my bag in the 89s with the idea of getting back in if it broke 91, it didn't take long did it? a day I lost about a buck and a half but so what, still keeping half stake on a tight leash. Riding the solar momo I grabbed a few shs of TSL as well, it's been straight up on decent volume since the lockup expired 3 weeks ago and penetrated it's 20 and 50MAs as they weren't there. I appreciate the responses.