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Message from discussion TSL is forming a Double Top, $26-$28 Resistance, $20-$22.5 Support
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gogo  
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 More options Jul 2 2009, 8:29 pm
From: gogo <nw200...@gmail.com>
Date: Thu, 2 Jul 2009 17:29:17 -0700 (PDT)
Local: Thurs, Jul 2 2009 8:29 pm
Subject: TSL is forming a Double Top, $26-$28 Resistance, $20-$22.5 Support
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A Double Top is considered a bearish signal, indicating a possible
reversal of the current uptrend to a new downtrend.

Volume tends to be heaviest during the first peak and lighter on the
second. It is common to see volume pick up again at the time of
breakout.

The Double Top should be above the Moving Average. For short duration
patterns use a 50 day Moving Average, for longer patterns use a 200
day Moving Average.

TSL

> forming a Double Top duration is approximately 60 days.
> 1st Peak between $26 and $28 on June 5, 2009 with High Volume
> 2nd Peak around $26 July 2, 2009 with Low Volume
> Two Peak formation is above the 50-day Moving Average

Next few days, confirm downtrend

> if TSL trend down with heavy volume.
> if TSL breaks the support level of $22.50

Short FSLR when FSLR was forming the same current TSL pattern at $188.
FSLR now is trading at $154.

I believe it is a good time to buy some put options at $25 or $22.50
or covered call at $25 or $22.50 for downside protection.

Downside Target price $13 - $15

Analysts upside Target Price is $24 for TSL.  Reasonable to say TSL
has reached its peak.

What does Double Top Mean?
http://www.investopedia.com/terms/d/doubletop.asp

Good luck.


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