FSLR

fslr feb 12 2015 log

fslr feb 12 2015 arith

We are not sure if there is indeed a triangle in the middle, the entire thing counts just as well as an a-b-c a-b-c or double zig-zag. In any event a drop from $320 to $11 have all the attributes of a serious correction so there is no compelling reason to expect any further drop. So both the structure and the magnitude support the notion that we are in a new bull market. Wave 1 went from the low of $11 to almost $75 and then drops to $39 in wave 2 (62%!). We are now in wave 3 which could go to $175 or so.

AAPL just bought $850mln. equipment from this company in order to create one of the largest solar installations in California. This should power all of AAPL’s  needs for the next years. It is on grid so the local utility is part of the equation.