Did some thinking about JASO over the weekend, fwiw...
first I think the markets are set to retest 7500, over the next 10 days. This is due to the total lack of a bounce this past week, and the selloff we had after election Nov 5 and on... I think the buying point in any stock would be VIX in the 65+ range.
I was wrong on alot of counts in the past, thinking we would have an obama bounce in the week before the inauguration. Now, seeing the mess in financials we had on friday, and judging the overall tone of the markets, I think the obama-rama-mania that we had in the days before the election have been overwhelmed by cautious money on the sidelines.
Now although I was wrong about some of my overall predictions on the stock market, I will say in my defense that I traded JASO 5/6, for gains of 37% (2.23-3.07), 56% (3.16 to 4.96), 15% (2.91 to 3.35), 8% (4.09-4.41) and 4% (3.15 to 3.29), for +120% in total. I think all of which I called realtime except for the 2.23-3.07, which I never posted on this thread for.
and I did have a 1% loss on the day I had bought at 3.21 and my instincts made me resell at 3.18 the next day at the open.
So I think that the way we are setting up in JASO here, the way rallies are getting sold and the overall gloom in the markets, and in solar, makes me think that there are still some hopeful longs who have to get crushed before we see a near-term bottom on this stock. This stock is so volatile, and the money that is in it is so fickle, that I think we could see at bottom of 2.01-2.05 before we bounce, within a month.
I'll be waiting.