Energy Conversion Devices, Inc. (ENER) Trade Adjustment
I closed the Feb 12 strike covered calls on my ENER position I wrote back on December 23rd in my IRA. I decided to take the loss for now and not roll these calls up or forward. I will wait to see if ENER can keep the momentum going on this recent rally. I’m short the ENER Jan 11 puts in my taxable account.
It appears that ENER is in the process of making a bottom at or near the $10.50 area. It even looks like a mini reverse H&S pattern on the hourly chart. ENER closed near the highs and made a little flag at the end of the day unlike the previous rallies of the last few months where it sold off right away. However, ENER needs to get above 12 and make a new high on the daily chart before I get too bullish. A falling 50 and 100 day SMA makes this one guilty until proven innocent.
Many of the solar stocks are improving of late. I follow JASO and SOLR and they are on my “B” list right now.
ENER Hourly