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).
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.
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.
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.