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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.

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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

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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.

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