Tuesday, May 17, 2011
I Bought Some First Solar (FSLR) Today!
Good day! First Solar (Ticker: FSLR) seems to be finding a nice support around the $120-125 area. I bought some more shares today as I continue to take this as a great buying opportunity. I also recently started a naked put option on First Solar. See my trade history.
So what happens if it continues to fall? I'm buying more! Overall, Q1 has not been a nice quarter to a number of solar companies. Evergreen Solar (Ticker: ESLR) is on the brink of bankruptcy. So, the fallout is beginning! This is a good thing! Why? As I have said before, the smaller players will die out, leaving the field for a handful of larger players, such as First Solar. We know the solar sector will flourish in the current and next decade. Having stake in the best company in the industry will help you ride the wave.
Also of note, Sunpower (Ticker: SPWR) is being bought out by Total. This means well for the industry in general. If an oil company is investing in clean energy, you know it's got a future! Who knows, maybe some other company like Exxon or BP would be interested in First Solar? A takeover will send shares very high!