Earlier this month we entered a trade in First Solar, Inc. (NASDAQ: FSLR).
The position expires this Friday, and right now we're profitable.
So let's pocket this money right now for a cool 56% return on investment.
Here's what to do...
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FSLR
Our latest trade featuring First Solar, Inc. (NASDAQ: FSLR) is ready to go now.... Read More »
Ever since election day, this country has been in turmoil, and that's true no matter where you sit on the political spectrum. Riots... the persistence of the COVID-19 pandemic... and now policies that could very well bankrupt everyday Americans.
These next four years are going to be marked by a presidential spending spree unlike any we've seen before, and to support that spending, taxes are going to shoot through the roof. Families once holding steady could be put on the brink of poverty as earnings are taxed more harshly than ever and financial freedoms are etched away.
Earning our way out of this mess may not be possible, but investing is a whole different ball game.
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Today in the Night Trader livestream we talked about how our clean energy streak continues with an amazing trade in the Invesco Solar ETF (TAN).
This exchange-traded fund has some of the best solar energy companies in the world.
And the last time we played TAN, it made us 500% profits.
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Our bullish trades on First Solar (NASD: FSLR) and American Express (NYSE: AXP) have broken down below support with the big drop in the markets this morning.
I think it's best if we exit these trades to preserve capital.
Here's what to do...
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The recent market correction has provided us not one, not two, but three opportunities for new Cash Clock trades!
There's a lot to cover, so let's get right into it...
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This morning as I was scanning the Alpha-9 radar - a strong signal hit the waves signaling a trade we couldn't miss.
And today, we're looking at a massive solar company.
So, let's get down to our newest trade...
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"Don't Fight the Tape." That's right, I just repeated myself.
Last week, I reminded you of this Commandment of Trading as we took a position in Tyson Foods Inc. (NYSE: TSN). That position is up about 20% since being opened, so going with the tape can payoff... but it can be dangerous in a market like this.
Six days in a row doesn't make a bull market. But it does erase the memories of the last few weeks quickly and gets more traders in the buying mood. This sentiment is clear when you look at the semiconductor sector. This group, which took the worst beating over the last month or so, is up almost twice as much as the S&P 500 over the last six days.
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Friday night, I sent a Mission Order with the recommendation to buy First Solar, Inc. (NASDAQ: FSLR) puts at a limit price of $4.00 or less. If you placed your order at any time before this morning, you should have gotten in at a much lower - i.e., much better - price than four dollars.
Briefly, but for just long enough, FSLR gapped ever so slightly higher right as the market opened. It didn't last long. But it was enough to undervalue the puts we wanted to buy, and it worked out beautifully in our favor.
Now, not even a full day later, we're ready to close our position for a big 50% profit. Folks, this is huge. It has been less than six hours that this trade has been open.
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Our list of bullish to bearish Turbo Stocks weighs in at 3:183. That's right, 183 bearish Turbos. But it's not a huge surprise given the market's activity of the last three weeks. Nevertheless, the ratio has been an effective indicator, so we're sticking with it.
Among the stocks on the bearish list is First Solar, Inc. (NASDAQ: FSLR). The solar-panel manufacturer traded 10% lower today off a poor earnings report and the bearish analyst comments that followed. In doing so, the stock dropped below $40, which had been chart support for the shares in the past. This break suggests that lower prices are to follow.
What's more, the Command Grid's reading of FSLR is decidedly bearish, adding to my confidence in the profitability of new short-term puts as share prices drop. In addition, another of my proprietary scoring systems is rating the stock as a sell with downside momentum.
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