Alternative Energy Break?
Posted by Blain Reinkensmeyer
May 29, 2008 at 11:30 pm
Could this high flying trend need a temporary rest? Take a look at these charts of First Solar (FSLR), Sunpower (SPWR), and Suntech Power (STP) and see what you think.Or, maybe it is isn’t the group as a whole, but perhaps just the solar stocks within the group? I think this may be the case as stocks like Alpha Natural Resources (ANR) and A-Power Energy Generation (APWR) tell a completely different story.
Looks like they all popped back up above support for the most part. The selloff may have been an overreaction to the German subsidizing news, and it looks like the corrected in a major way today. FSLR ended about flat for the week, LDK is up 7.5% give or take, SPWR is down a buck, and STP… well they didn’t fair so well for the week but they still popped back pretty nicely today.
Man you gotta have a strong stomach to consistently try and play these names.
Less LDK and SOLF the others didn’t close that well and posted lower volume - I remain sketpical.
You can stomach any stock when you have the correct odds in your favor
. For now a break with a small QID play keeps me happy.