Tuesday, April 15, 2008

Bookkeeping: Locking in Trina Solar (TSL) Gains

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As mentioned yesterday, I would be happy with $43 or so on Trina Solar (TSL) considering I upped my stake from 1.6% to 5.1% yesterday AM with purchases in the $38-$40 range. With the spike yesterday, and somewhat slow start this morning, I've decided to cut the position back to "normal size" of 2.2% (it had appreciated to about 5.3% with the price spike), so this puts it in line with my other major long positions. My sales are roughly the $43 bogey I was looking for.

I am underweight on all long positions; usually I hold my top positions in much larger scale but since I am being cautious at this point with earnings season, I am far less exposed than normal. Again, I see 'potential' short term upside in this name to $45 or so but I don't want to be too greedy and am willing to miss out on some opportunities. Rarely do we get such a quick opportunity for profit, so I am going to take advantage of it, and lock in the realized gains. If Trina Solar continues upward I still have a decent sized stake to partake... I still believe fair value is much higher now.

With this name and many others I am actually now hoping for some pullbacks - we have a lot of overextended charts in my favorite names so I don't really wish to chase these names and buy high ... but they do continue to show incredible strength day after day.

Long Trina Solar in fund and personal account


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