Thursday, February 25, 2010

the DEAD & BLOATED Rally ~ Suntech Power Holdings Co., Ltd. (ADR) (Public, NYSE:STP)

... smellin' like a rose? hmmm, not so much.

The SOLAR sector has some of the most bearish looking charts out right now and like they always say, ...

... "Don't try to catch a falling solar panel!"

... but the new 52 week low under $100 reversal in First Solar (FSLR) triggered a buy SOLAR signal. With recent defeats in CSIQ and SPWRA, i went for a low risk swing trade in Suntech Power (STP) common. the chart shows a potential iH&S and $1.50+ range box. LONG STP.

LONGS: NTAP, ARUN, AMZN 120 CALLS, HK, and STP. ... please note the TECH slant, "if" the market does rally we want to be long of the TECH.

"I run through the world thinkin' 'bout tomorrow."

p.s. the LONE "BIG" BEAR Bet: $EDZ $5.77 (+2.49%) ... 1 play, 1 world, 1 hatred.

1 comment:

BUY ON THE DIP said...

i will be making more options trades in general, as most of my success this year has been trading options contracts.

look to BUY (FSLR) calls in the AM.

(QHB Mar 20 '10 $105 Call)