Cramer Hates Solar

I’ve tried to go against Cramer’s picks in the past, but the man moves stocks too much to fight him.  I looked back on my notes on why I sold the FSLR puts a couple of weeks ago and one of my factors was Cramer being bullish on them.  With that factor reversed now I had to bite the bullet and take a small loss on my trade.  I bought my June 60 put back at 3.00 and paid $310.74 with commissions. I considered holding on to that put and selling a call to give me a better cushion, but decided the risk wasn’t worth it.  I’d rather take a $40 loss than risk losing bigger on a fast move in either direction. I could have waited another 15 minutes and come out break even, but I didn’t.

Deep down I think FSLR will be fine over time, but there’s no reason for me to risk the loss right now when I can just get back in later if I still like it.  When I first traded on FSLR I wrote that it was a specultative trade and apparently my stomach for risk isn’t what it was two weeks ago.  Cool enough though, I’m up for the day still.  My CMCSA covered calls expire today.  Right now they are $0.32 OTM.  I’ll be watching it closely before close and if it’s ITM late in the day I might buy them back so I can sell July calls at $27.50 or 28.37 calls. If all works my way, they’ll expire worthless and then climb on Monday for me to sell my new covered calls at a higher price.

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