YGe and rest of the solar seemed to have moved in deep negative direction. There is a sell off going on behind the scene.
This could be brutal and painfull. I am selling half my positions NOW. The rest depends on the sector performance in the coming days/weeks/months.
YGE and others look very weak and being the end of the year push is not going to help the cause.
U.S. Consumer Credit Fell By $12 Billion in August (Update1)
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By Courtney Schlisserman
Oct. 7 (Bloomberg) -- U.S. consumer credit fell in August for a seventh straight month, as banks kept restrictive lending terms in place and job losses made households reluctant to borrow.
Consumer credit fell by $12 billion, or 5.8 percent at an annual rate, to $2.46 trillion, according to a Federal Reserve report released today in Washington. Credit dropped by $19 billion in July, less than previously estimated. The series of declines is the longest since 1991.
Labor Department figures last week showed there were more job cuts than forecast in September and the jobless rate kept rising. The data prompted President Barack Obama to say he’s working to “explore any and all additional measures” to spur growth, and underscored forecasts for the Federal Reserve to keep its benchmark interest rate near zero through next year.
“Demand for credit has just gone through the floor,” said Ellen Zentner, senior macro economist at Bank of Tokyo- Mitsubishi UFJ Ltd. in New York. “Households are in paying- down-debt mode, they’re not in the mode of taking on new debt.”
Economists had forecast consumer credit would drop $10 billion in August, according to the median of 36 estimates in a Bloomberg News survey. Projections ranged from a decline of $15 billion to an increase of $6.2 billion. The Fed initially said consumer credit decreased a record $21.6 billion in July.
Stocks were little changed after the report, and Treasury securities rose. The Standard & Poor’s 500 index was at 1,055.04 at 3:29 p.m. in New York. The yield on the benchmark 10-year note fell to 3.17 percent from 3.26 percent late yesterday.
The facts haven't changed folks, only the colour of the lenses have.
IMO, the markets want to see that Dow 10,000, no matter what, so don't panic till you see that figure in your rear view. I'm in the Darvon camp, and that hasn't changed for me. Psychology will win, then the rest is a crap-shoot. So no matter whether your a Cat cheerleader or a Darvon Doom and gloom, the markets will have their way, imo, that means fight for that number, although not realistic, or a second dip, which Rubini used to warn about, but now, just wants to be more popular, rather than an economist. You choose and good luck.
Down pennies today... what do you mean deep negative direction? Are you looking at the same stock I am? I don't call this a deep negative direction, zzztopp. Every day your posts are so emotional. Chill out a bit because it's affecting your perceptions. YGE can move a lot in a short period of time. It can also trade relatively sideways for periods of time.
This doesn't look like it wants to correct further. Three days in a row, it doesn't fall below $12 and stick. There is a lot of upside potential, even in the established trading range. As for me, I'm looking for it to break out above the trading range, and that will happen, sooner or later.
Darvon, we're no where near your target price. In fact the stock is almost double where you want to buy in. You can't be jumping up and down about .05 cents when you're looking to buy in at half of what it is now. You've got a lot of patience. I bet you're going to end up not buying this stock at all and will eventually end up in something else. The only way you'll get the deal you want is if the bottom falls out and we have another gigantic global crisis. And if that happens again, the recovery could be years and years away. I, for one, want to see steady global progress. Not mayhem. If there is mayhem, I won't be buying stocks.
It's hard to take anyone seriously around here.
Im surprised to here this from you.
Do count this stock out of the game yet. When oil takes a dip solar follows.
I think YGE has a lot of room to run up and it will. The market it self is in pull back mode Investers are watch our goverment and employment.
YGE will come out on top. PANDA will surprise everyone just as Q3 will.
Your stock, Your money, Your choice. For me I'm staying long