We've been following First Solar in the last few hours of trading the last week. Last Tuesday 9/16, Wednesday and Thursday, FSLR moved up dramatically starting right around 2pm.
On Friday, 9/19 it happened again, only it was a more mild rally. Looking at the tape, at 1:48pm FSLR is trading at $235. Then look at the tape again at 3:44pm where First Solar is trading above $242. Although it was not nearly as dramatic as the three days prior FSLR did get another 2pm rally. This is roughly a 7 point run in less than two hours. Even if you didn't pick the bottom or sell at the top, you could grab a few points in that move. And Friday was the worst of the 2pm rallies.
That is four days in a row that some type of rally in FSLR took place either right before and just after 2pm. First Solar (like so many other solar stocks) is a great long-term investment. But going on the trends being shown lately, it is more profitable to trade it for a few points in the afternoon.
Today is Monday, 9/22 and FSLR is down -$15.20 so far today, trading at $226. This may set-up another late rally, especially if the overall market starts moving at the same time. But no matter what the market is doing, no matter what the other solar stocks are doing, make sure to focus on First Solar. Start watching FSLR closely around 1:40pm and see if any upward momentum is underway.
The trend is your friend. Obviously, the "First Solar 2pm Rally" could end today. But until it does I will continue to ride the train. We've got four days of the 2pm rally, maybe we can go for five days.
