Friday, December 7, 2012

Weekend Thread

A US Marine stands at attention with the USS Arizona memorial 
in the background on Pearl Harbor Day.

Friday Afternoon

Intersection or message from D.C.?
The continuing lack of serious bargaining or negotiating and the total failure in the leadership category is sending a message to us, the bill payers.  It's on the sign.

Friday Morning - FSLR ... up close

Gator's Chart of the Day: FSLR
I've been tracking this trade all week and I'm not stopping now.  In fact, today I am going to zoom in and take a closer look as the trade is well underway. 

Note the buy signal (green arrow) on the stochastic that occurred on 11/20.  This was an early clue that the stock was ready to move.  I didn't actually get in until early on 11/26 and sold 90% of my position about 2:30 on the 27th.  I got back in and have maintained at least a core position since Monday of this week.

The trade is getting a bit long in the tooth now and I am looking for it to pause and probably retrace from just short of 35.  That could be as soon as this afternoon or early next week.  The stock is now in what Fitz called the "money maker" pattern.  The price just keeps riding the upper Bollinger band.  So far it is doing that on the outside and that really can't last much longer.  With that in mind I have changed my stop strategy.  In order to stay in as long as I can I will use the previous day's low as my stop.  If the stock continues to go up I'll keep raising the red bar.