Solar stocks have taken off like wild fire on Wall Street......
Even highly speculative solar are recording "huge gains"
CSUN,AKNS,CTDC....have NO earnings ...but are UP,UP & UP.....
What is this "telling US" ??????
The message is simple.......
Now that China has announced their committment to alternative Energy today.......
The valuation will go "sky high"......
Reminds me of "internet craze"...when YHOO was UP,UP & UP on "no news"
So how do you play this Solar Bonanza ?????
Have a mix of high quality & some near quality stocks......
I will discourage you from jumping in highly specualtive ones.....
Please check RSI before buying any Solar stocks.....as some are really EXTENDED.......
In my portfolio :
I added 30% more LDK again...my cost went down to $52.16...LDK remains "oversold based on RSI of 53.34 as of todays close"......LDK technically is also very healthy as it is way above 50 DMA of $41.55 closed @ $51.88......there is resistance between $53.78 to $55.00..after that immediate target is $58.80...then ......$62.......
I was down 28 cents on my purchase in LDK........
BIDU had a "mother of all rally UP $19.09"...only $29.52 from all-time high.....
AAPL went to $200.96 then retraced closing UP 15 Cents.......a new all-time high was reached today $$$$
MA took a rest today due to retail negative news down $2.64...expecting a big UP move anytime $$$$
RIMM was UP 96 cents...after basing for few days.......
My portfolio was UP .9% today..because I was down .4% in my CAD short...
Today I closed my trading fiscal year for tax purposes......I am extremely proud of my FINAL "printout numbers ready to go with my tax filing"
My stock portfolio for 2007 was UP 344.1%...with NO options.......all stocks !!!!
In my Canadian $ short I am further UP 90% as of todays close.....
Overall stocks plus CAD short gain totals UP to 434.10%.......
I did 290 trades in 2007...means on average I did 1.32 trade per trading day....
I intend to CUT down on my trading substantially in 2008.......
Please note that my current portfolio GAIN is NOT factored in my 2007 numbers...those will go in my 2008 tax filing........
Well......it is very NICE to close the year on such a HIGH note $$$$$....It is a RARITY for me !!!
If you are wondering as to HOW I did it......lot of FA & TA is involved.....
Homework & hardwork & DAILY monitoring of many good IDEAS did it.......
I had many many HOME RUNS...none trumpeted on CNBC.....or by so-called GENIUSES on MB...
@ best MB generally HURT inexperienced investors big-time......as MOST posters are "big pretenders of their activities.....where TRUTH is DEFOCUSSED big time..LYING is the name of the game..."
MB is full of OPINIONS backed by NO facts of FA or TA.......Opinions are given when NOT asked.... or given when they have NEVER owned those stocks.....so NO CREDIBILTY ever.....
So...if you want to make "serious money do NOT waste your time on MB or CNBC...learn FA & TA in "peace & quiet".....
Know the industry trends in terms of future growth......with a "worldwide view"....
BLOG does NOT give BUY or SELL.
Good luck in 2008.....it has already started as of today...what you own NOW belongs to 2008..... unless it is OPTIONS which has next day settlement.
Saleem
16 comments:
Hi Saleem, Could you give me your take on BG? I have been watching it and to my untrained eye, it looks like it hasnt ran as much as all of the other AG plays and has been laying a little flat for a few days now.
I am in RIMM, SOHU, LDK and I would like to add an agriculture play to my portfolio such as BG. I am thinking about entering BG around the current price of $119. Thanks for any insight you can provide regarding BG. Doug...
Hi Doug,
BG looks very good from TA.....
It is ready to take off.....
www.stockcharts.com has its target @ $159.....
Looks like it will go to new high !!!
Good luck,
Saleem
Nice job Saleem!!!!!!
I was watching some of the same solar stocks you listed in your blog. Almost pulled the trigger on CSUN but "chickened out" due to its weak fundamentals (compared to LDK and FSLR, which I currently own).
I must admit it I was very tempted to buy CSUN, as I have some cash burning in my back pocket. As it turned out CSUN went to the moon today and I "missed" the flight. However, I must pat myself on the back as one of my goals for 2008 is to avoid jumping into stocks without doing sufficent research - TA and FA.
My investing history shows many many many losers and very very few winners from being an impulsive trader.
Once again, fantastic trading Saleem!
Thanks very much for your prompt reply Saleem. I am blown away by your 2007 performance. It is really very encouraging. I am excited and optimistic about facing what the market wants to do in 2008, mainly because of hard lessons learned and some new disciplines, that I am confident will assist me in being successful this coming year. Looking forward to tomorrow as a new day to enjoy and do something that I love to do, which is trade stocks. I feel so Blessed. Talk soon, Doug...
Congratulations Saleem.
Your results are quite impressive. I am still trying to emulate your disciplined approach. I have followed your blog for the last 4 months and I have learned a lot about how to trade but I definitely need to cut back on the amount of trading I do. I have a question about tax preparation. I looked at the hundreds of trades that I have made these past few months and I wonder if there is an easier way to deal with the IRS. In the past, I documented every trade on the Schedule D form. That was no big deal since I only made 20 or 30 trades in the course of the year. Now that I have more than 500 trades, the tax filing process seems rather daunting. Is there an easier way to file these trades without documenting each and every trade? If I traded the same stock 30 times in the course of a year, can I just document the totals for the year? Any help would be greatly appreciated.
Thanks in advance,
Ken
Hi Bruce,
Discipline is very important to come out AHEAD @ the end of the year.
Speculation is OK if done with 5% of capital..NO MORE...
Quality is absolutely important even in solar sector...you have TWO good ones...no need to go crazy with NO earnings.
Thanks for your appreciative message.
Saleem
Hi Ken,
There is NO shortcut to reporting.My broker TD waterhouse in Canada gives me a printout...but it includes all which falls into next year like my current portfolio which understates my GAINS.
I have made an excel worksheet which has the same columns as the tax code requires.
So...each time I trade I record everything in my Capital Gain worksheet.....so I had 4 pages this year with which I combined for the totals of each page on page 4 to get the grand totals.
NO...you cannot avoid not listing every single trade.....this is a requirement of tax code of both US & Canada.
I attach my Excel worksheets with my tax return.....never had any problem.
I have already listed my current portfolio in 2008 worksheet....if you put formulae then it is all very easy.....but do it each time you buy or sell....otherwise it is a horrendous job.
I believe in US (as per my brother) that brokerages have all the trades organized in your account...all you have to do is download & printout...he is with Fidelity Brokerage.
Saleem
Hi Doug,
I never procrastinate in doing what I have to do.....that includes replying to anyone who is looking for some info/help.
Stock market is very enjoyable...if you follow a disciplined approach...
Do not be tempted by NOISE (Mad & Fast money teaches you what NOT to do...sell when they say buy...buy when they say sell....works well)
Do NOT look for instant or daily gratification...should follow a weekly approach to get ahead....1% per week will give you 52% for year.
I am shooting for 100% for 2008 as my portfolio is much larger as starting point...compared to last year...
How large you are asking.....421% in $ value....vs last year starting point.....
So 100% gain is a real challenge !!
Good luck with your portfolio....
Conviction & Patience is the-key $$$
Saleem
Good Morning Saleem, I was wondering if you had a suggested time of day to potentially add to LDK? In other words, have you noticed, by watching the tape, a good time to find a dip in intra day price for LDK? Thanks, Doug... (kind of a weird question I guess). LOL...
P.S. on another note, very sad news out of Pakinstan...
Hi Ken,
I know your question was for Saleem but thought of replying.
Turbo tax allows you to import all your transactions from your brokerage account within minute without any error.
Also look at gainskeeper.com
Saleem, I know what your cost is for LDK and I guess that if I can buy equal or less, I would be doing good. So, sorry for the stupid question. LOL... I think the reason that my brain was prompted to ask you that is because I was considering purchasing some shares in pre market and I just didnt want to buy when it may have a tendency to dip predictably...Thanks, Doug...
Hi Doug,
LDK is a screaming buy in solar sector.....as I have referred in my last night post...
Hope you bought already !!!
Saleem
Yes Saleem, I added more LDK this morning. Thank you for the guidance. Doug...
SLEEM
My Gosh Do ya have a magic wand??
Smile, LOL
I am amazed that BIDU is up huge
I sold my few shares it is still climbing.
Look at MA take off you are like a surgeon --go and slice a piece of a stock with precision
Congradualtions on a really sucessfull stock picks and having had a huge gain in 2007!! wow If I can emulate ya I will in 2008.
I am in MA, NYX, DSX LDK, CHL RIMM
Thank YOU again. I like your approach to life Saleem, and I count you as a Friend.
Madmax
Hi Madmax,
Blessings comes from well wishers like you & many others.....
I have been very focussed on others welfare & happiness...which always made me happy.
Life does give a lot back ...if you keep giving....
I am happy that you have some stocks which are strong today...inspite of market weakness.
Saleem
Hi Saleem, just added more LDK @ $47.50. My new cost basis is $49.10. Im really happy with my position. Thanks for your help. Doug...
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