The market has defied the gravity thus far. A lot of people think it is an over bought market. It might be. So what? I love bubbles. Bubbles are beautiful if you can ride in them and get out before they burst. In a market that is mostly driven by peoples’ emotions, there is no such a thing as “the market can not go higher or the market can not go lower”. For me, the worst market is a flat one that produces many whipsaws. I will never cheer because the market goes up or be sad just because the DOW drops 300 points.
Anyway, here are a few stocks I will be watching closely in the next few days. FLSR is breaking down nicely. Note that it is sliding in such a strong market, which means there might be something fishy about the stock. One of the reasons it dipped 6% last Friday is a note from Jefferies. FLSR is one of very few bottom performers since March 2009. A lot of stocks have doubled frome their lows earlier this year. Not only is FLSR a bottom performer in the entire stock market, it also is the weakest in the solar sector. You can compare it with TSL, STP, and YGE.
Click on the images to have a better view
FSLR
STEC is a strong stock, which has been moving sideways lately. Please note the rectangular range. Oscillators are the best in range bound moves.
PCX is an interesting stock too. It is not as strong as its brothers like WLT or MEE. But it is a very tradable stock in either direction. It has been bouncing up and down in a big trading range too. Does it look like a short?
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