No swing trades today. Just a quick day trade on some energy plays like HK and YGE. It was a little hard to get long on a daytrade because most stocks already started way up. I have to get used to this buy high sell higher style in this back and forth market.
Stocks closest to 52-lows did particularly well, showing that this a panic-buying rally. Check out YGE and STP in the solar industry. I like shorting this industry on the swing side, and getting long on the daytrade. We here at iBC just love to daytrade solars. Anyway, you’ll notice both YGE and STP were up about 10% after flirting with their 52-lows. SPWRA did even better closing up 13%. If you’ve been tracking the industry, you would have noted there was a lot of negative news on the supply side of solars overseas, which probably contributed to the sectors decline over the past few weeks. Really, this sector was begging for a bear market rally. Nevertheless, in a sunny state like Hawaii, solar (ie, Photovaltaic) is a hot industry.
Anyway, let’s get a little excited now that this sector is brought back to life. My list is small but potent for trading on the long and short. TSL is the best of the breed on the fundamental side.
When energy stocks rise,
1. long TSL (swing)
2. long STP (swing)
3. long YGE (day)
4. short SPWRA (swing)
When energy stocks retreat,
1. short YGE (day)
2. long TSL (swing)
3. short STP (swing)
4. long SPWRA (swing)
I’ve been wanting to short FSLR, but haven’t had the nerve.