Solar Stocks and MA50

Have you been on the same emotional roller coaster ride lately that I’ve been on?  You know, the one where you think you’ve figured out how to swing trade solar stocks just to get your ass kicked the next day as it spirals down to your stop loss.  The ride wasn’t even long enough to make you vomit.  Don’t get me wrong, the nice, smooth climb up from March to May was quite exhilarating with few twists and turns along the way. However, once we reached the summit, the laws of gravity quickly pulled us down through numerous hair-pin turns, drops, and loops.

Is the downward spiral finally over…at least temporarily? Ten trading days ago, most solar stocks found support and have been trending up ever since. Not a lot of attention has been made to this, but look at the daily charts from many in the industry and you’ll wish you had taken at least a small position in your favorite solar because the support was segment wide.

Now we’ve reached a new milestone. Ten days ago it was was industry wide support. Now we’re looking at resistance. More specifically, we’re looking at MA50 and a handful of solar plays banging against it WITH volume. Is it time to climb comfortably back in our seats for another smooth ride back up to May highs? Or, does big, bad MA50 have other ideas?

Here are my top MA50 resistance solar stocks that I’ll be watching Wednesday. I’ll likely pick my favorite to position long in if MA50 gets broken.

Check out these daily charts:

• Gotta start with FSLR since it is still the industry pulse..
• JASO
• SOLR
• STP
• SOLF – nice
• LDK
• ESLR
  

Tags: ESLR, FSLR, JASO, LDK, SOLF, SOLR, STP

Still Interested in Chinese Solar

Yeah, I know, solar and alternative energy stocks in general are not very sexy right now with all of the recessionary influences on this ‘pricey’ substitute to the status quo.  But, I still think solar is attractive beyond its positive environmental impact.   Chinese solar stocks in particular have captured my attention of late.

One would think with all of the negative articles surrounding the solar industry that it would be the last place you would want to put your money.  We have been, after all, in a recession all year and oil prices are WAAAY off their 2008 highs.  To the contrary.. Chinese solar stocks have been, in most part, very profitable. Check out the below chart of STP.   TSL has shot up 215% YTD,  and SOLF up 50%.

So why are Chinese solar stocks catching my attention?  Especially after not-so-hot earnings last week from SOL and JASO?
(more…)

Tags: CSIQ, FSLR, JASO, LDK, SOL, SOLF, STP, TSL, YGE

Solar on Fire

As we all know, solar stocks took off after a wonderful earnings announcement from $SPWRA on Thursday. So, what’s next?

This week will continue to prove interesting for solar stocks as the powerhouse $FSLR gets set to report earnings on Thursday ($ESLR reports, too).  A good report will obviously add fuel to the bull move, but a bad report could do quite the opposite. My plan is to be ready for either outcome. I will also focus attention on scalps between now and then, but I  anticipate a bullish sentiment unless the overall market reverses and pulls solars down.

Now to decide which solar stocks to play..

(more…)

Tags: CSIQ, CSUN, DSTI, EMKR, ENER, ESLR, JASO, LDK, SPWRA, STP, TSL, YGE

The Daily Scan

Hello, all. I’ve been away for a few weeks with limited trading exposure, but I’m hoping to get back into the groove again this week.   I did manage, however,  to get in ahead of the massive move in $GST and cashed in big.. that felt good.

A few showing up on the Sunday night scan (short term long swing/scalps)..  (futures down as I type)

$XOMA -  sitting on MA50. I’m interested only if we see support or bounce here.

$CPST – If I can get CPST closer to MA50, I might jump in with tight stop just below.  Just feels like a breakout soon. We’ll see. CHART.

$PPHM – Needs to breakout soon… Careful below .80, but Full Sto might be bottom and I like the volume accumulation.  CHART.

$DAN – I’ve been watching this descending triangle setup – I think we’ll see a move soon – which way?  We shall see, but I’m ready to play long.  CHART.

$JASO – touching possible MA support with MA50/MA200 crossover.  Could be a fun short or good long entry if we hold support here.

$LCC – not a fan of airlines, but I like a move through MA20

$SAY – a move through horizontal resistance at 3.5 would be very interesting (also a MA20 breakout at 3.5)

That’s enough for now.. See you all tomorrow.

Tags: CPST, DAN, JASO, LCC, PPHM, SAY, XOMA

Solar Burned Out?

I haven’t been following solar much lately and I think that is a mistake.  We’re going to be talking about alternative energy for years to come and there will likely be good money to be had here.  For tonight, I’m going to take a quick look at some of the more interesting charts. Click on the ticker for my thoughts and annotated chart.  One theme that will stand out is that most are approaching strong levels of resistance.  My gut –  solar down first part of the week (hope I’m wrong).

• ESLR
• YGE
• JASO
• STP  - very strong since March. I think over bought temporarily and at resistance level – worth watching.
• CSIQ
• FSLR 

Tags: CSIQ, ESLR, FSLR, JASO, STP, YGE