As expected, we saw some sell off today especially the previous leaders including TSLA, SSYS/DDD and solars. The short term profit taking risk is not over and we therefore still like to keep the SPX short position. Single stock wise, we closed half of GTAT position this morning at 8.85 with no gain and GNW at 13.95. We are still bullish at solar sector, but GTAT may be at risk as LCD lighting section is weak given CREE’s report. Our another position AOL however breaked up and showed more strength with a new buy rating from bank of America. In addition, we start recommend a long position in MCP at 5.24. The stock just had a successful secondary IPO with oversubscription and both largest shareholder and management increased stakes. The industry prospect is also brighter and we see a larger probability that the stock will go up from here than go down. Our stop is set at secondary IPO price at 5 dollar.
Posted on: Wed, 23 Oct 2013 22:16:48 +0000
Trending Topics
Recently Viewed Topics
© 2015