It wasn't just the action in FSLR.
We were bumping around the 200 day simple moving average, stocks as measured by standard deviations below trend were oversold, sentiment indicators were all lining up on the same side of the boat and I got lucky.
Luck informed by way too many years of watching every uptick and downtick in equities, credit, currencies and commodities, but luck nonetheless.
It's just that the FSLR observation allowed me to not sound like every wonk and wannabe on the web.
Kids, don't try this at home, or more importantly out in public, unless you have a friendly investment policy committee and irrevocable lines of credit.
And have made a lot of mistakes.
Monday, June 4, 2012
Time For a Short Term Pop in the Market (FSLR)
One of our short term indicators (0-2 day lead time), First Solar traded down to an all-time low this morning and reversed, it is now up 1.83% on the day.
The DJIA is down .33% at 12, 078 and the S&P is down .41% at 1272.76.
The DJIA is at 12,347 and the S&P is at 1308.71.
Where to next? Who knows. If I come up with any ideas I'll tell ya.
The indices dropped another 1/10th percent after the post and closed slightly up on Monday.
Up a bit more on Tuesday.
Up a bear market rally today.