Survivor portfolio gets an energy boost
I'm trimming some losers and buying some solar.
I decided to sell three positions totally on poor price performance:- Fastenal (FAST)
- Large Cao 3x Bull ETF (BGU)
- Small Cap 3X Bull ETF (TNA)
I replaced them with a solar energy play, Trina Solar Limited (TSL).
Everyone seems to want to get on the alternative energy bandwagon, so here is your chance. TSL is currently one of the few private manufactures who have developed a vertically integrated business model from the production of monocrystalline ingots, wafers and cells to the assembly of high-quality modules. They have reached long-term partnerships with technology suppliers in Switzerland, Italy and Germany, which provide the technology for their production facilities in China.
Their recommendations have caused a price movement of 23.22% last month and the stock hit new highs in 5 of the last 5 trading sessions. Barchart has a 100% short term technical buy signal and an overall 64% buy signal. Their Trend Spotter also signals buy.
The general investors have taken note and on Motley Fool the CAPS members vote 983 to 185 that the stock will beat the market with an agreement vote of 214 to 74 from the more experienced All Stars.
I'm adding this stock to Wall Street Survivor portfolio but because of its recent price movement would advise a tight stop loss at the 50 day moving average of 18.87. Buying points:
- 100% Barchart short term technical buy signal
- Gained 23.22% last month and hit new highs in 5 of the last 5 trading sessions
- Wall Street recommendations based on stellar sales and earnings projections
- Large and positive investor sentiment
Jim Van Meerten is an investor who writes on investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.
Disclosure: No positions in the stock mentioned at the time of publication
| Tags: | investing strategy |
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