Deep Market Thoughts…Solar Resistance and Water Shortages?

  • Posted by
  • on May 19th, 2008

It is 105 plus degrees in Phoenix today. Nothing makes people more cranky than hot, sweaty balls in May. Pant wearers are in a murderous rage in Phoenix today. Yet, solar stocks reversed hard today from a dizzying short-term run.

Probably the biggest ‘tell’ for a market reversal is the stop I took on DELL at $21.

Today there are a lot of other smart traders pointing out reasons to at least ‘NOT BE A HOG’.

Trader Mike has a great summary of some hot solar and market action.

I am taking some solar profits myself. It is hard to think that solar is a bubble when oil is at $125 and it’s 172degrees in Phoenix, in May. I remember my wedding in may 13 years ago and we were worried about a temperature spike into the low 90′s for the outdoor wedding. Thirteen years of temperature creep has made 100 plus degrees in May a regular thing.

The Fly sums up how I feel , but I am still long many stocks.

It has been a fantastic run for many stocks since Dow 12,500.

If you read this blog, you should have been buying Amex, Goldman, Apple and Google down near the lows. I would therefore quantify today’s prices as nothing to be ashamed about in taking profits.

PS – I would love to see Chipotle’s in the mid to low 80′s and reload for myself and the kids.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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