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.

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