Sunrise Solar Corporation (SSLR) - Take 72% Profits, Sell This Penny Stock Now
I hate to do this to you guys this soon, but I think it’s time to make an exit on any Sunrise Solar Corporation (SSLR) shares you may have bought on our recommendation from last Friday. At the time we suggested this penny stock on the 1st, it was trading at 59 cents (it also closed at 59 cents that day). Currently it’s trading at $1.02, which translates into a 72% gain for this penny stock trade.
Normally I’d prefer to just let it ride and let each of you decide for yourself when to get out. However, I just don’t like the shape of today’s chart - it looks like a blowoff, particularly after seeing it retreat back from the intra-day high of $1.29. I hope some of you got out closer to that level, for more than a double.
On a side note, this chart pretty much played out as I expected it to. We saw a huge move in only a few days, but the move was hinted with modest acceleration a few days prior. This surge looked a lot like the one we witnessed in January, September, and July.
I’ll be keeping SSLR on my penny stock radar in case we get the early warning again.
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I still have 4000 shares for about $.64 per share. What should I do with it? Thanks.
Editor’s response: I can’t tell you what to do, as only you know your situation and risk tolerances. I can tell you what I would do though, from a risk-taker’s perspective…
At this point, I don’t think there’s as much downside risk as there is upside gain (regain) potential. Would it have been better to gotten out at 50 cents? Sure, but we can’t go back in time. Based on the chart I see now, I personally suspect the volatility will eventually kick in again and send it higher. That’s just my view though.
On the flipside, if I was in at 64 cents, I’d be happy to get out at a break-even.
Comment by Lilian Strasser — 7/6/2009 @ 9:54 am
http://www.sec.gov/litigation/suspensions/2009/34-60050.pdfYou can file a complaint regarding SSLR as follows:
The complaint form can be found at this link http://www.ssb.state.tx.us/Inspections_A…
When you have completed the form please scan to pdf and email to … Charles Hornsby chornsby@ssb.state.tx.us.
If you can not scan … fax to: (512) 305-8310
If you can not Fax … mail to:
TEXAS STATE SECURITIES BOARD
P. O. BOX 13167
AUSTIN, TEXAS 78711
TSSB’s phone Number: (512) 305-8300
Editor’s response: Just so you know what this is, SSLR has come under investigation by the SEC, and the links above describe in detail what’s going on and what you can do about it (if anything).
Comment by Rock — 6/6/2009 @ 3:36 pm
Bought 1500@ .30…. sold 500 @ 1.14
Rest is profit. Up or down is ok with me. I’m here for the ride, for the third cycle of SSLR for me.
Dodge
Comment by Dodge — 5/5/2009 @ 9:50 pm