*****Notes: RSX: Sell stop: Keep the lower sell stop: 16.37
***Cancel F: Buy stop to buy at 7.64 but will look to enter on Wednesday after the inside day
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****Existing Position: FSLR: Long ½ 53.09 ATR: 2.12
Name of Instrument: First Solar Inc
Current Price: 58.20
Breakeven Stop: 53.09
Reason For Trade: Those of you who have known me for a while know that I like the solar industry as a growth area over the longer term. First Solar reported robust 3rd quarter earnings. Technically, we waited to buy once it corrected to and held the 200 DMA. In an Accumulation Phase, the correction gave us the opportunity to buy against 3 major moving averages: the 50, 100 and 200 DMAs. Our stop is generous to allow for a smaller position size given current market volatility. Our stop is also under the 65 week moving average. If the market holds up, a close at the end of November over 56.20 is a breakout over the 23 month moving average. If the market fails again, we have lots of room to move up the stop and reduce the risk.
First Profit Target: 59.79 for 1/3-1/2 off with no loss stop when/if it trades close to 57.00
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Existing Trade: RSX: Long 3/4 position 17.67 ATR: 42
Name of Instrument: Market Vectors Russia
Current Price: 16.59
Sell Stop: 16.47
Reason For Trade: Clearing the 200 DMA and in an Accumulation Phase, fundamentally Russian stock market is trading at the highest levels since 2008. Technically, our stop is under the 50 and 100 DMAs for room. There is a 65 week moving average at 18.22. If that clears it will be the first time since it did so briefly in July 2014. Biggest overhead resistance is at 20.20 the 23 month Moving average. If it catches a move over that level it is a good trade to hold even a tail into 2016.
