Tuesday, April 10, 2007

Trade: Long FSLR @ $58.60

5 comments:

Anonymous said...

Hi MC. When you put on Long positions do you also do an analysis of the overall market conditions? How do you keep from selling your positions if the markets drops a large amonut? thanks for your help.

JJ

Tom T. said...

Hi Pinoy - I am trying to understand your rationale for getting in as the 4/9 candle was not really a hammer and how did you know it would break the $60 resistance established around 10 days ago - I can sometimes understand by your notations on the charts but sometimes more explanation is helpful - I enjoy watching your trades - thanks - Tom

mc said...

JJ,

I sometimes look at the market environment but most stocks that I trade for long positions moves up/down because of certain catalyst. Having a defined stops keeps me from being emotional during tough market conditions.

Tomt,

Based on my analysis of the chart, the most logical TOP of the base is arounf $58. To $60 candle from last week or so are not significant price events.

MC

Anonymous said...

Pinoy,

What made the April 10 penetration of the $58 base different from the March 23?

mc said...

Anon,

March 23 was too early and there was not enough time for the stock to build a more constructive base.