It is fait accompli.
About 10 days ago, China’s President Xi and US President Biden agreed to cooperate on the very serious issue of climate change. They both endeavored to transition their respective economies away from fossil fuels and move over to alternate energy. The entire beaten down alternate energy sector jumped on the news.
My Options2Wealth portfolio has made a sizable bet on Enphase Energy (ENPH), one of the best run companies in this space.
Another equally well run company that dominates the solar panel market within the sector is First Solar (FSLR).
And it’s PnF chart is a doozy!
This past Friday, the powers that be, pulled the stock down more than $5 and basically forced it to form a 3-box reversal on its PnF chart – and on very low volume.
I love to see 3-Box reversals on stocks right after they break their Bearish Resistance Lines…very bullish!
I believe the stock is perfectly poised for a substantial move up…
And my O2W portfolio does not have a position in it.
I plan to change that Monday by selling a few of my profitable MBLY and INTC call options and plow those funds into FSLR call options.
Having already gone on record on November 20th, 2023 that the alternate energy sector has ended its correction:
“I predict the alternative energy sector has made a bottom and it should now be all up from here”
And with the 12 day UN Climate Conference scheduled to start in Dubai on November 30, the entire alternate energy sector should make a substantial move up this coming week…
And my Options2Wealth portfolio will be ready to profit!
Best~
karim
DISCLAIMER: I am not a licensed broker or securities dealer. 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 not for the faint of heart as one’s portfolio can move up, or down 10%-50% or more during a single trading day. Therefore, trade options with extreme caution. Past performance is no guarantee of future results.
Full Disclosure: I own options in the stocks of companies mentioned in my posts.