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SPWR: Looking To Make A 3-Box Reversal On Its PnF Chart (Part 2)

|Includes:Apple Inc. (AAPL), CSCO, JNPR, LDK, QCOM, S, SPWR, SUNEQ, TSL, VIAV

In my yesterday's post I had mentioned the possibility of a 3 Box Reversal in SunPower's PnF chart and had opined that for the short term health of the stock, this pull back would be very good...

Well, the stock's price came within 30¢ of that reversal pattern...but alas, no cigar...Today, the company issued a very bullish forward looking guidance and in about 30 minutes, its Analysts Day meeting starts where management will add additional color to their issued forecast for 2013...Because the stock has been on a tear recently and is quite extended, I am not sure if it will be able to pull off a feat similar to the one of FSLR's stock when it went up over 45% in one day...we shall see...

One thing is for sure...going forward, SunPower will be the main driver of the solar sector and I have no doubt that it will soon eclipse First Solar as the dominant solar company in the world...

Today will be a very interesting day for sure...

kp

EDIT @ 10:45 am EST: Forgot to mention when I wrote the post above...For my June options, I will start to sell when the underlying stock SPWR prints $23...kp

DISCLAIMER: All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is definitely not for the faint of heart as one's portfolio can move up, or down, anywhere between 10%-30% during a single trading day. Feel free to follow my progress here, but PLEASE do not follow my moves. However, if, in spite of all my exhortations, should you decide to do so, be advised that you, and ONLY YOU will be responsible for any losses that you may suffer...In other words, the onus is strictly on you. On the other hand, if the move(s) result in a profit for you, I am open to discussing a split. ;-)

Disclosure: I am long LDK, SPWR, TSL, WFR.

Stocks: AAPL, CSCO, FSLRQ, VIAV, JNPR, LDK, QCOM, S, SPWR, TSL, SUNEQ