Solar Stocks and Overall Market Give Technical Sell Signals; Solar Stocks and Market Commentary with J Peter Lynch
Solar Stocks and Market Commentary with J Peter Lynch
Point Roberts, South Salem, New York - August 24, 2010 - Investorideas.com and its green investor portal, renewableenergystocks.com publish new energy market commentary from solar contributor, J. Peter Lynch.
Solar Stocks Commentary with J Peter Lynch -
Read other articles, Exclusively for InvestorIdeas.com and Renewableenergystocks.com: http://www.renewableenergystocks.com/PL/
Solar Stocks and Overall Market Give Technical Sell Signals
The stock market in general gave major technical sell signals today and the solar sector gave a sell signal late last week, plus a majority of our solar stocks are undergoing a momentum shift from positive to negative.
Critical longer term support levels were broken:
Dow Jones (DJIA) @ 10100
S&P 500 (SPX) @ 1060
NASDAQ (NASD) @ 2140
As I said last week and many times prior:
"Since the market peaked in late April the market has been struggling to keep its head above water. There is a lot of fear out there and when markets are acting like they currently are i.e. multiple series of lower tops and lower bottoms it is NOT a good sign. It is still possible that this is the long awaited correction and not the beginning of a much deeper slide. It IS, without question, a time for extreme caution and not a time to initiate new positions, unless you are a trader and move in and out of stocks on a daily or weekly basis".
No one can clearly and accurately foresee the future, but in this case the indicators are very clear this is not the time to be in the market..........period.
If you are an aggressive trader you will also notice that the Inverse ETF for the S&P 500 (SH) has just broken its 50 day moving average to the upside. Note: an inverse ETF will go up when the index it is based upon is going down so it is similar to shorting a stock. Difference here is that you are in effect shortly the S&P 500 index by buying SH.
Keep you powder dry and remember the words of an old Wall Street trader, whose name I cannot remember: "you never go broke taking a profit or getting out of the way of a falling market".
Mr. Lynch has worked, for 33 years as a Wall Street security analyst, an independent security analyst an investment banker and private investor in small emerging technology companies. He has been actively involved in following developments in the renewable energy sector since 1977 and is regarded as an expert in this field. He was the contributing editor for 17 years to the Photovoltaic Insider Report, the leading publication in PV that was directed at industrial subscribers, such as major energy companies, utilities and governments around the world. He is currently a private investor and advisor to a number of companies. He can be reached via e-mail at: SOLARJPL@aol.com. Please visit his website for the promotion of solar energy www.sunseries.net
Subscribe to the Peter Lynch solar RSS feed
Disclaimer: The views and opinions expressed in the research published are those of the individual companies and writers and not necessarily those of Investorideas.com® or any of the industry sector portals. At the time of publication, writers may hold positions in the stocks or companies mentioned.
Research solar stocks : Visit the renewable energy stocks directory
About Our Green Investor Portals:
www.RenewableEnergyStocks.com is one of several green investor portals within www.Investorideas.com, creating a meeting place for investors, public companies and industry leaders following developments in renewable and green energy. The site provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, research and a comprehensive global directory of stocks within the renewable energy sector. Investors can follow solar stocks commentary on our site with solar expert, J. Peter Lynch.
Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates! We cover multiple industry sectors but specialize in environmental and water.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. Disclosure: Investorideas.com is compensated by featured green companies, news submissions and online advertising.
800 665 0411
Follow Investorideas.com at Twitter
Investorideas.com is on Facebook
Other Green Investor Resources and Tools:
Subscribe to the Renewable Energy and GreenTech Business and Stock News RSS Feed
Investorideas.com Green Investor Audio Series
Investing In Water Podcast: The investing in water podcast features audio interview with some of the sector's leading experts and fund managers.
Investorideas.com Members- access to green stock directories and trading trends
With markets and investor sentiment changing daily- it is more important than ever to stay on top of key trends! Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Content including the water stocks directory, environment stocks and renewable energy stocks directory.