As promised today on Twitter via StockTwits, here’s a recap of the FSLR day trade taken this morning.
This trade was a result of the stock market in general being seriously downtrodden today along with this particular stock’s push to close the gap feeling especially weak. I watched the tape to get a feel for how this one would react to yesterday’s low, and it just didn’t appear to have the ability to push through it (as a matter of fact, it reversed a few cents lower than the actual PDL).
Entry
As indicated on my day trading chart to the left here, I took an entry around 9:44. The previous day’s low (PDL) was set at 154.54, and the price kept hanging around the 154.51-154.53 range. I entered just after the doji at 09:44 with a fill at 154.43. I had a stop at 154.65 – .22 total, and .10 past the nearest resistance seemed reasonable place for a stop on this early trade.
Target 1
The closest visible support I saw was the natural support of the whole number at 154.00. I took that quick scalp with half of my position. I got a fill at 154.03, for a gain of .40.
Target 2
The next target in my sight was the next whole number at 153.00. At this point, my stop has moved up to my entry point. This one rolled back quite a bit, all the way back to 154.29 or so, but eventually it punched through 154, and on to 153. I exited here with a fill of 153.03 for a gain on the second half of my position of 1.40 total. And a lucky fill it was, as the price bounced violently away from the whole number.
There it is, the FSLR trade recap. I also took another trade this morning on AMZN that was closed for a small loss. I had POT on my watch list but missed the boat on that one entirely. No big deal, I have a football (soccer) match to go win, and a 3 day weekend to look forward to. Have a great Independence Day! (Belated for you Canadians.)
UPDATE: Lost the game 3-4. Solid game though. We’ll take the next one.
