Wednesday, February 14, 2007

Post Mortem: First Solar, Inc.

Gotta burn this one into the memory banks....

Read Full Post.....

I was too steamed to realize it at the time, but now in retrospect, the execution of the entry was poor, since there was no volume to support the move to break above 33.6. Once I was in the trade though, I screwed up the placement of the stop. If you had somehow
bought FSLR @33.61 and it's now just after 2pm EST on Feb 13/07, where would you have placed your stop?
Knowing what I know now about how First Solar, Inc. (NASDAQ: FSLR) swings wildly, I think I should have set a more looser stop. It was real frustrating to have this happen to me twice in one day (the other one was ESRX). After that loss (at least psychologically it felt like one), I couldn't bring myself to buy the subsequently sweet, and orderly breakout above 33.6.

Nothing like a spanking like this to teach me what to do right for next time.....but I sure wish there was a less painful way....

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