{"id":13261,"date":"2012-08-14T01:14:32","date_gmt":"2012-08-14T08:14:32","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=13261"},"modified":"2012-08-14T01:14:32","modified_gmt":"2012-08-14T08:14:32","slug":"first-solar-still-just-a-trading-stock","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/08\/14\/first-solar-still-just-a-trading-stock\/","title":{"rendered":"First Solar Is Still Just A Trading Stock"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on August 13, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Since reporting earnings August, 1, First Solar (FSLR) has been on a tear. {snip} This trading action represents strong follow-through to the nascent bullish action I pointed out on June 19th<\/a>:<\/p>\n

{snip}<\/p>\n


\n
\"First<\/a>
First Solar's bounce from the June lows continues in impressive fashion<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

Shares short against First Solar reached an all-time high just ahead of earnings…{snip}…<\/p>\n


\n
\"After<\/a>
After sharply dipping in the first two months of 2012, shorts have ramped strongly against First Solar<\/figcaption><\/figure>
\nSource: NASDAQ short interest<\/a><\/strong>
\n<\/center><\/p>\n

Despite the encouraging action in First Solar, I think it is still a trading stock for now. Accordingly, I used the rally to close out near-term call options and switched to near-term puts to hedge the remainder of my (base) position in FSLR<\/a>. I next looked deeper into the earnings results to try to identify whether something sustained and lasting had changed in First Solar’s business….{snip}….<\/p>\n

The chart above shows that FSLR has finally a stalled a bit over the last three days. If these levels do not mark the peak of the recent rally, I then expect a top around $24 where the initial surge after FSLR’s restructuring news ended. On the downside, I am looking for FSLR to eventually fill its post-earnings gap up but find some temporary support at the now upward trending 50DMA. At that time, I will evaluate whether it makes sense to flip the trade back to a (short-term) bullish bias. My assessment will depend on whether short interest has increased to even higher levels, and whether the general stock market still maintains a bullish bias. <\/p>\n

{snip}<\/p>\n

Be careful out there!<\/p>\n

(This is an excerpt from an article I originally published on Seeking Alpha on August 13, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Full disclosure: long FSLR calls, long and short puts<\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on August 13, 2012. Click here to read the entire piece.) Since reporting earnings August, 1, First Solar (FSLR) has been on a tear. {snip} This trading action represents strong follow-through to the nascent bullish action I pointed out on June 19th: … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[220,3],"tags":[6,7,16],"class_list":["post-13261","post","type-post","status-publish","format-standard","hentry","category-earnings","category-solar-energy","tag-first-solar","tag-fslr","tag-solar-stocks"],"yoast_head":"\nFirst Solar Is Still Just A Trading Stock - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/08\/14\/first-solar-still-just-a-trading-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Solar Is Still Just A Trading Stock - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on August 13, 2012. 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