March 29, 2010 – We are suggesting taking profits again on the First Solar (Nasdaq:FSLR) June 100 puts today, which would be an approximate 66% gain on the position we advocated opening back on February 24. Back on February 2, we had suggested selling puts on First Solar into weakness and then to close the position on February 18, locking in a 50%+ gain.

Our rational on the trade has been, and continues to be:

• Belief in the strategy of selling puts on stocks we would like to own at lower prices is a prudent and disciplined way to position build, and doing so into weakness maximizes the premium in doing so;

• Belief that the broader markets are largely overbought and there isn’t much more room to the upside;

• Bullishness long-term on First Solar’s position in the burgeoning solar market;

• Belief that any opportunity to buy First Solar in the $90 range (which is the price we locked in with the Put sale, if the stock moved lower), all things being equal, would be favorable;

• Understanding that if the stock moved back higher we could lock in profits and realize a nice trade (which this strategy has done twice since February 2: 50%+ gain on June 100 FSLR put sold on Feb 2 and covered on Feb 18 and 66% gain on June 100 FSLR put sold on Feb 24 and covered today.

Important Disclosure:

This information is intended to assist investors.  The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.  Any such offer, if made, will only be made by means of a confidential prospectus or offering memorandum or management agreement.  It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future results or expectations.  As with all investments, there are associated risks and you could lose money investing.  Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment