Long FAZ

Here is what I see:

Long above 50.50 with a stop right below that level. Going for the win here.

I’ve been selling positions all morning. With the recent strength in the last hour, I am just about out of everything. You see, I have no desire to get cute here, mainly because of the “devildogish” chart i see below:

It looks like we will be moving into the depths of hell soon. However, the market has a mind of it’s own, and I would not be surprised if we finish the day higher, mainly because everyone says we go lower.

With all that said, I’m in cash.

Finally we get our breakout in EGO, as gold breaks out. Also, take a look at SLW, this one could have legs. Matter of fact, look at any gold stock and you will see a brekout of some sort, NG looks tempting.

Wow, I still can’t believe RIMM, don’t own it, but I feel like I got RIMM’d due to NVDA’s numbers. I quickly took my loss at the open, and I’m out of that name. As for my baby solars: JASO, ENER, SPWRA– I’m still holding.

I’m also still holding GOOG, and notice that BIDU is ready to rip the heads off of bears. I may take a position in the name today.

Another busy day/week for The Cajun as I’m working on all sorts of stuff. I will be out of town for a week staring on the 22nd. If anybody would like to guest blog for a week, let me know.

I have accumulated a bunch of longs within the last week, I am now questioning the best time to exit.

As I look at the chart below, it does not look good. Yesterday, around 877, was the ideal time to get short, a beautiful double top. I will watch to see if the support line, around 825, holds as support– below that and I’m back to cash.

Actually I picked up a few more longs. I added NVDA on this dip, and a little more CLNE. I also picked up EGO ealrier in the day and set my stop right below $8.

The minute we break 835, I will start adding hedges.

Last week I remember I guy saying alternative energy was going to rip this week, oh wait that was me. You see, it makes no sense claiming solar is dead, “c’mon Cajun, look at ESLR!”

To them I say Pfffff.

Did you see SPWRA, ENER, and YGE reports? I bet you didn’t even read over the numbers, I bet you just took them as “good” based on the stock prices.

But, the fact of the matter is, these companies are making money and they are growing at an accelerated clip.

Right now I am expericencing “2007 gains” in my portfolio, as my postions rip: JASO, ENER, SPWRA, & CLNE.

And for those that wonder will I take profits here? The answer is no.

Carry on.

Note: Still love every name in the watchlist right here, with the exception of GERN, unless it trades above 8.50.