Monday, October 6, 2008

Playing the Bounce and Climateer's Line of the Day (FSLR)

FT Alphville had this blurb of a post:
Dead cat b-b-bounce

Indicative closing levels for US equity markets:

Dow -363.35 points or -3.52 per cent at 9,962.03 (vs low of 9,525.32)

S&P 500 -42.35 points or -3.85 per cent at 1,056.97 (vs low of 1,007.97)

Nasdaq -84.43 points or -4.34 per cent at 1,862.96 (vs low of 1,777.02)

on which 'Black Adder' commented:

” We’re in the stickiest situation, since Sticky the Stick Insect, got stuck on a sticky bun. “
Our bounce play "First Solar Fills November '07 Gap (FSLR)":
This is tradable at $144.00 down $19.19. Low for the day was $134.50. Chart from BigCharts:...
closed $15.71 to the good but is down $2.01 after hours. The solars went down first and hardest and then wouldn't retest their lows, even when the DJIA got to 800 down FSLR didn't go lower than $139.00. Chart via Yahoo Finance:
Chart for First Solar, Inc. (FSLR)