Well, it's been awhile since there has been any reason to update our positions... We're still up on all our remaining positions after taking the big loss in SLUP, which has only nosedived further, confirming our decision to cut our losses when we did.
We're adding a new stock to our portfolio today: LDK Solar (LDK).
LDK IPO'd last week, peaked over 30, and retreated just as quickly... The chart shows that the stock MAY have found some support, but it's so early that it's impossible to tell for sure.
This is a speculation, but a good one. LDK is engaged in the manufacture of high-technology solar-cell wafers, has a market cap of $400 million-plus and trades on the NYSE. This is a trend play all the way, and we're hoping for some fast, dramatic gains in the face of rising oil prices, demand for green stocks and alt energy plays, and LDK's positioning as only one of two current Chinese solar plays trading in the U.S. (with a third on the way).
As you can see from the chart above, LDK could be hitting some support.
Let's move now, and try to catch sunshine in a bottle.
Let's move now, and try to catch sunshine in a bottle.
ACTION: Buy LDK Solartech (NYSE: LDK) at $27.20. Place a 25% trailing stop on this position.
Good investing,
James
