Why FSLR Fizzled

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The market's been feeling really different lately – – and in a good way.

I feel like I've been going to an exotic dancing club night after night, and each evening Abby Joseph Cohen has come slinking out onto the stage. Worse, with the exception of her upper lip, she hasn't even bothered to shave. For me, it's a combination of revulsion and disappointment.

Ever since OBL was shot-through-the-dayam-haid, the market has felt remarkably different. One of my favorite shorts, First Solar, has blossomed beautifully. It had a couple of properties on its chart that I liked:

(1) A failed bullish breakout, tinted below in yellow. By all rights, this stock should have soared into the 200s. Instead, it wilted like the formerly stiffened giblets of the gentlemen attending the aforementioned strip club;

(2) A failed trendline, circled below in red. This broke the stock once and for all.

The stock might lurch up and down for a while, but there's really no firm bottom I see for FSLR.