buying ASX, sold SRS -7%, FSLR update.

We're buying Alberta Star Development Corp., ASX trading in Canada and cross-listed in the U.S. as ASXSF, which last traded at $0.17

This company enjoyed a good run when the uranium mania hit the junior markets in 2005 and 2006, a time which long-term readers of this blog will surely remember fondly as we enjoyed regular phenominal gains with speculations in that sector. Since then the stock has come all the way back down in price though the company's prospects remain compelling, especially so now that it's a silver speculation as well.


Alberta Star 2-year chart :





With the trend appearing to be reversing from down to up, and a new investor relations firm representing the company, we hope to be buying in advance of another big rally in Alberta Star's stock.

To visit the Alberta Star website and enjoy a 3D "tour" of the Sunshine Mine, click here.




First Solar, FSLR continues to exhibit significant weakness daily vs. the overall market.

As shorts, that's good luck we enjoy in addition to the large price drop the stock suffered just days after we entered the trade. Currently we're ahead 19% on that position.

Even better, we now have a "head & shoulders" pattern in play on the stock, as seen on the chart below. The break of the "neckline" is a minor one, so far, but if this technical pattern is indeed in effect then we'll probably see the stock fall a bit farther before bouncing back to test the underside of the pattern. If that test fails, then the technicals suggest we should see the stock trading down near $100 before perhaps another bounce and then a steady slide much lower.

A brief rally would seem reasonable after such a sell-off, however even on strong market days the stock's rally attempts have failed thus we remain confident that the existing downtrend will continue even if a bounce of some significance finally takes place.


FSLR 2-year chart :



Should the stock trade down to $108 we'll close our position at that level for a profit of 30%. Until that might happen, our stop to cover remains in effect which we now lower again to $122.25.


Updates :

DRI, Darden Restaurants, was entered short at $32.75 per our offer detailed on November 10.

SRS, ProShares UltraShort Real Estate was sold for a loss of almost 7% per our stop revision of October 30th.


CGP chart & trends :






We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the stocks we do, or for mentioning any stocks or companies in this blog. If we hold existing positions we divulge the fact.

This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

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