Analyze different stocks and markets to understand trends leading to successful trading and possible long term investments
Wednesday, November 21, 2007
Solars- TSL missed earnings
TSL missed earnings today and is down 26% . This is now in a big corrective action. Baased on Elliott Wave theory analysis, it seems to be working on the C downwave. The C-wave will be very nasty and I believe this stock will move in the down direction. Very good short. If you again see 37-38 short another lot. Target in 25-26 range.
I have been actively trading for the past 3 years. After 2 years of struggling with stocks, I reached an inflection point in October 2006 and have been making good profits since then. I learnt that identifying trends early and focusing on the fundamentally best stocks in that trend is very important. Moreover just fundamentals are not good enough. You need to complement that with good Technical Analysis to pick great entry points and exits. They say a picture speaks a thousand words and I strongly believe in that. I use trendlines, Fibonacci and Elliott Wave theories as part of my TA tool sets. Last but not the least, one needs to keep accurate trading records and have a sound money management system to succeed.
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