OT to pcyhuang and RtS, re chart reading:
I'd like your opinion (and anyone else who cares to comment) on this chart of TAN (solar ETF), and my buying plan. This sector has been in a downtrend since mid-2008. The latest down-move began in February, and has almost chopped TAN in half, taking out the 2010 low, and threatening to take out the 2008-9 recession low. Since early May, the 15dma has been resistance. Since mid-June, the 15dma has been below the 50dma, which is below the 200dma. High volume days happen at ST lows, and/or the day after.
disclosure: Beginning on August 8, I began going long 4 solar stocks (FSLR, YGE, TSL, JKS; not TAN), and covering my solar short. I now hold a partial position, bought when TAN was 5.7 to 4.8
Message 27586463
Message 27592300
Did I start buying too early? Are there other indicators I should be following?
BTW, this conversation about charts has given me things to think about, and possibly change my opinion and positioning. I'd like to continue it, if you are amenable. If the board regulars don't want that discussion here, let me know, and we can move it elsewhere. Otherwise, I'll keep posting my random thoughts, with charts full of random lines. : ) |
