I’ve been on the long side all morning, both in the futures and the stocks. Well, I came into the day long stocks and enjoyed a nice 2 percent drawdown on my swings to start the day.
Now it’s practically green. Si!
One thing isn’t working at all and that’s solar. I chased YGE and FSLR yesterday, nearly buying their respective highs, and you see the result today. Both positions are down over 5 percent and not catching a bid.
Therefore I’m trading everything else that is catching a bid to make up the ground being lost by these solar issuances. They haven’t told me I’m wrong yet. Unfortunately, I’ll have to be about 10 percent wrong to know it’s the case. Such is the life of an overeager speculator. Position accordingly.
Aside from my bashed on the head by Japanese men wielding solar panels it’s a good day. We filled a 15 handle gap, a pro gap as they say. The pros filled the pro gap and did so with the steady hand of accumulation.
I still like this tape to the long side. I scaled some LEDS too soon, at $1.98.
My new longs are more YY and some ODP, yes…you know me.Comments »