Solar bounce play results!

Market went down nearly 400 points today but solar manage to close in the greens: $STP $YGE $TSL wins. Alert from yesterday(Solar bounce play).

Intraday charts below:

STP


TSL


YGE

Solar Bounce play

Hammer candlesticks form when a security moves significantly lower after the open, but rallies to close well above the intraday low. The resulting candlestick looks like a square lollipop with a long stick. If this candlestick forms during an advance, then it is called a Hanging Man.- stockcharts.com

I bought YGE, STP into the close today for a reversal(bounce play). You can see series of Hammer candlesticks forming in Solar stocks and it is getting way oversold. I am long term bearish on solar (based on the daily chart) but it should be setting up for a quick bounce. Let's take a look on some of these setups.









Disclosures: Long STP YGE for a day or two(most likely one day).

BEAC Setup

CCME to begin trading on the NASDAQ on June 3rd

Press Release Source: China MediaExpress Holdings, Inc. On Wednesday May 19, 2010, 8:45 am

FUJIAN, China--(BUSINESS WIRE)--China MediaExpress Holdings, Inc. (NYSE Amex: CCME) (“CME” or “Company”), China’s largest television advertising operator on inter-city and airport express buses, today announced that its common stock has been approved for listing on the NASDAQ Global Select Market.

Effective as of the close of trading on June 2, 2010, the Company’s common stock will cease trading on NYSE AMEX. Upon the opening of trading on June 3, 2010, the Company's shares will commence trading on NASDAQ Global Select Market, under the same ticker symbol "CCME".

Mr. Zheng Cheng, CME’s Founder and CEO, noted, “We believe that NASDAQ represents the best fit for our Company and our shareholders. NASDAQ's market maker structure should lead to increased liquidity, an expansion in our shareholder base and, ultimately, to increased shareholder value. In addition it will provide our investors with the best prices and the fastest execution. As the world's largest electronic stock market, NASDAQ promotes innovation and attracts leading growth companies from a diverse group of sectors. CME is one of the very few Chinese companies to qualify for the NASDAQ Global Select Market, which has the highest initial listing standards of any exchange in the world. Out of 136 China-based companies listed on NASDAQ, only 26 companies such as Baidu, CTrip.com International, Shanda Interactive Entertainment and NetEase.com, fulfill NASDAQ Global Select Market requirements. Within only seven months since CME became a public company in October 2009, we have qualified and are making the decision to move to the NASDAQ Global Select Market. This achievement is an important milestone for our Company and we look to the future with confidence.”

Long and Strong!

Trading ideas for May 17, 2010

MILL (Long Setup)


YGE (Short Setup)