i agree thats why i'm getting out tmrw, no worries just a small position, and in response to the other poster yeah thats fslr which trades at 100+ p/e but take a look at ldk or yge for example on pnf chart looks completely diff but i agree for some reason i don't think todays sharp pullback was only due to the sndk ceo i think i want to get out of solar tmrw, keep my gold stuff and just see what the market does at this level (it looks like a fat band of resistance above us.. and we are rite at and a bit above the 200 day sma on the spy and i;m wondering if it will hold) also vix looks like its starting to turn around the next few weeks will be interesting thanks
I think a better explanation is that the SPY hit a major fibonacci line mid-day and the index had a pullback. You also have six updays on the spy. It would be statistically improbable for there to be more then six updays considering the last year of trading. I would believe that the spy would probably pullback to a moving average like the 20 day or the 200 day which will take about 2-3 days before the next leg higher. As for the "gold stuff", I would dump it. Lower highs and lower lows for the gold spot and the ten year yield is looking awfully bullish. When will WTIC follow??? I dunno. As for solar, each of these stocks seem to have a noticably different chart pattern. I wouldnt worry about vix and pnf charts.