You’re looking pale. Time to get a tan? That’s the Solar ETF ($TAN) (November 11, 2021)TAN
In this FITZ IN FIVE video, I want to look at TAN ( NYSEARCA: TAN ), the solar ETF. And here’s why, it looks to me like the Federal Government, and a lot of states too, for that matter, are going to be putting a lot of subsidies, a lot of mandates, a lot of contracts, into solar and the EV market, the electrical vehicle market, just a lot of renewable sources.
With Congress recently passing, I think they passed it, maybe it’s just on track to pass, but you know all that crap is going to be passed. So I am looking at these things, and again, you know Congress is going to pass everything. They always do, especially when it comes to spending, money is free. Consequences be damned, money is free. And so when it comes to trading this is the type of thing that happens. You are going to look at solar, you are also going to look at metals because of the inflationary environment that free money creates.
So this is what we did, I actually put this on our Growth Stock List today, our Active Trade List. I decided to buy the stock, enter it today at $98.00, somewhere around there, very close to where it closed, and then I got two stops on it. One is a relatively tight one at $92.00. The low here today was 94.50. This one here, the low here was 92.34, so I figure 92.30. The only way that stop is hit is if this stock completely falls below yesterday’s big low. And then I have a looser stop down here at 84.60 for those that have a little higher tolerance for short-term pain. As long as the stock stays above the 50-day moving average it’s all good in the hood. These are the two stops that I’ve got suggested for our members.