solar on fire

[staffpro]

Quote from Port1385:

I have to laugh at you guys. Solar stocks have been on a heated run since March. I think CSIQ went from the teens to the 40s in all of but 2-3 months. Look! Thats nearly a 300% return on a stock where as some of the "good stocks" like Cisco havent managed anything like that in 6 years!!! Not even close.

Then one day there is a nice sharp pullback after 3 weeks of a simply amazing run (a run that I have not seen since the tech bubble) and your panicing.

We havent experienced these amazing runs for not. There will be pullbacks and

i agree thats why i'm getting out tmrw, no worries just a small position, and in response to the other poster yeah thats fslr which trades at 100+ p/e but take a look at ldk or yge for example on pnf chart looks completely diff but i agree for some reason i don't think todays sharp pullback was only due to the sndk ceo i think i want to get out of solar tmrw, keep my gold stuff and just see what the market does at this level (it looks like a fat band of resistance above us.. and we are rite at and a bit above the 200 day sma on the spy and i;m wondering if it will hold)

also vix looks like its starting to turn around the next few weeks will be interesting

thanks

 

[Port1385]

I think a better explanation is that the SPY hit a major fibonacci line mid-day and the index had a pullback. You also have six updays on the spy. It would be statistically improbable for there to be more then six updays considering the last year of trading.

I would believe that the spy would probably pullback to a moving average like the 20 day or the 200 day which will take about 2-3 days before the next leg higher.

As for the "gold stuff", I would dump it. Lower highs and lower lows for the gold spot and the ten year yield is looking awfully bullish. When will WTIC follow??? I dunno.

As for solar, each of these stocks seem to have a noticably different chart pattern.

I wouldnt worry about vix and pnf charts.

Quote from staffpro:

i agree thats why i'm getting out tmrw, no worries just a small position, and in response to the other poster yeah thats fslr which trades at 100+ p/e but take a look at ldk or yge for example on pnf chart looks completely diff but i agree for some reason i don't think todays sharp pullback was only due to the sndk ceo i think i want to get out of solar tmrw, keep my gold stuff and just see what the market does at this level (it looks like a fat band of resistance above us.. and we are rite at and a bit above the 200 day sma on the spy and i;m wondering if it will hold)

also vix looks like its starting to turn around the next few weeks will be interesting

thanks