Solar In A Weak Economy

Posted by StockBuz on October 27, 2014 at 8:38am in Short Setups

CSIQ with great risk/reward to the short side.

If anyone thinks there's growth here with Europe on the cusp of a third recession in six years, China property values (finally) falling and a weak U.S.? Not me. I think they'll head to lower fib support and consolidate over time.

Actually I might buy some for my IRA as a drawer stock down there; undecided. We shall see. For now I am short and will cover (alert) above last weeks high.

Comments

Admin

StockBuz November 3, 2014 at 1:36pm

I've revised my chart on CSIQ over the weekend, giving the right shoulder room to the 50d and upper fib line, which seems to have been support and resistance in the past.

With lower crude, who needs solar as much AND if Congress pushes through the Keystone pipeline, I wouldn't be surprised to see solar subsidies sacrificed on the Koch alter to give subsidies to fracking going forward.

All eyes on the Keystone passage.

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