The prediction that the FSLR sale at $125 being too early turned out to be true, with a vengence. Not only did the stock break out over $130, but is now on the doorstep of $140 per share.
This was actually predictable when looking at the recent graph of FSLR. Once First Solar hits the magic $130 - $133 range, if it doesn't break down from there it is pretty much a given it will begin a run.
Based on that I predict that the current rally in First Solar will extend to $150 per share, at least for one day of trading. It may begin a sudden decline after reaching that point. But for any short-term FSLR traders out there I would say that $150 is now within sight.
For all of those in the FSLR shorting community I would say to watch out and at the same time be on the lookout for an opportunity once the stock breaks the $150 level. There is a very decent chance that the stock will be giving back once the current run fizzles.
So we've got two dimensions of potential revenue here. Get in right now (and keep the trigger ready to dump if things start to collapse) for a continuation of the intermediate gains. Then be set to turn (probably just over the $150 - $154 level) to a short position. Personally, I think shorting FSLR is not a good idea ever but I tend to be a little more conservative than most of the traders out there. I will be happy to climb on board for the quick jump from $140 to $150 and pocket the profit.
