I don't think so. Alternative energy stocks heading up...and SCTY along with them.
Couple of other interesting things to watch as well. Banks seem to be close to an intermediate bottom as well (Goldman Sachs looks primed and ready to rise). And oil and nat gas look to be heading higher in the near future.
Alternative energy continues to move up. I noted some "intermediate bottoms" yesterday.....and they continue to move up.
I wouldn't expect "chunks" of yardage each day......more like a slow, continuous grind upwards.
The interesting thing to watch over the next 18 months will be the price of natural gas. THAT......is the 10,000 pound gorilla in the room. And THAT is what is going to move alternative energy over the coming years....
...fairly "substantial". SCTY heads to $100.....possibly more. Other solar stocks set to move up BIG TIME as well. FSLR, TSL, SPWR, etc....
BIg move up over coming couple of months.....
KINDI bottomed today.......solar stocks bottoming as well. TSLA....SCTY.....others as well.
Buy fear....sell greed. Now is the time to buy......
One thing to keep tabs on in the coming months is the "melt season" in the Arctic. This year will be a big year for alternative energy stocks......because the truth can't be hid.
Fact is......the earth is receiving more energy.......than is going OUT of its atmosphere into space. It is called the "energy imbalance" by science geeks.
That additional energy continues to melt ice, warm oceans, and heat the atmosphere. So far....most of that additional heat has gone to melt ice and warm the oceans (more than 90% of the additional heat has gone into the ocean).
As people continue to see that the Arctic ice sheet is melting......and "warming" has NOT come to a halt.....the stock market will push alt energy stocks higher.
1) The most recent IPCC report on climate was released today. Not surprisingly......it told us we are in deep s**t unless we get our act together. Anyone wanting to watch a comedy act....should watch FOX News, as they once again ignore science and listen to fossil fuel lobbyists. They are pretty funny......but I get embarrassed for them.
2) Look for alternative energy stocks to perk up in the near future. Many of them are back at support, and the last "light volume trading" is now taking place.
3) Arctic ice sheet has begun its annual "melt phase". Right now.....it is about 700,000km2 BELOW the same level of ice extent during the record low year of 2012 at this same time. I expect either a new record low or "near record" low ice level to be set in September of this year. That will provide more impetus to act on global warming.....as more and more people come to the realization that FOX News has been lying (surprise.....surprise).
There is still strong support for coal in "coal states" like West Virginia, Kentucky, Ohio, Wyoming, etc. But the CLEAR FACTS of climate change won't go away. And with each passing year.....with each passing melt season in the Arctic and Antarctic.........with each passing year of global temperatures that continue to warm......the "end game" for fossil fuels becomes clearer and clearer.
Fossil fuel is a FINITE RESOURCE that is (a) running out (b) dirty and unhealthy, (c) becomes more and more expensive with the passing of time. Do you invest in something that is running out.......or something that has a life of 200 million years or more (sun and wind)?
....that now those with short positions have to cover (called "unnatural buyers").
The interesting thing about SCTY......is its LONG TERM viability (ie it replaces electric utilities). THAT is the long term story here. And it has a LONG WAY to play out....
Keep in mind that shorts have to cover. I covered several days ago........others will be covering over the coming days.
Looks like the following:
1) TAN probably bottomed already this am
2) SPWR looks like it is bottoming
3) TSL likely bottomed this am
4) KNDI looks like it has a little more to go before bottoming...
5) SCTY tested its bottom from a couple days ago....and its "ready to go higher on this next leg up"
6) CSIQ likely has a little more work on the downside...but its within a few days of finding a bottom...
Solars looking good......
...and I'm not talking about the price of SCTY stock. It will have its peaks and valleys over the next 20 years. The change I am talking about is the change from fossil fuels......to clean energy. The tide is gaining strength.....and is beginning the long pull.
The new energy system is just now beginning to reach enough "mass".....to where it really makes a difference. Now comes the continuation of a LOGARITHMIC RISE over coming years......with absolute numbers that really begin to bite.
Now....people are able to see that the "oil bubble" really WILL have an end to it. And just the "start" of that end is here now. It will be a LONG PROCESS........but that process is now on firm ground....and gaining steam.
Two others I meant to list:
TSLA: Support at the $195 - 200ish rang
KNDA: Support at $15ish
Alt energy stocks have been correcting over the last 5 months. While FSLR is the first to break out, others are now approaching support....
CSIQ: pulling back to support at 28ish - 29ish.
TSL: pulling back to support at 13ish
TAN: this is the etf which is partially composed of SCTY. Look for support at 42ish
FSLR already broke out....and is pulling back to test the break out in the mid to low 60's..
Natural gas likely has a little more pull back over the short term.........but after the next week or two, I expect nat gas to begin a slow rise in 2014 and into 2015. I expect shipments of LNG (liquified natural gas) to increase towards the end of 2014 and into 2015. Europe currently gets a lot of their natural gas from Russia, and that is going to change with LNG shipments from the US in 2015.
Interesting year ahead....
1) Look for natural gas to rise over the coming year. The US will eventually supply a good deal of natural gas to Europe. Large quantities won't be able to be exported until 2015 (they need to build out LNG facilities). But that will be on a "fast track".....and markets know it is coming. That is VERY beneficial to alternative energy stocks.
2) Look for strength out of China and many other Asian countries. Should be good for the US market as well...
...HUGE. AND LONG.
Two things will happen this year to push alt energy much higher:
1) Beginning of El Nino which will start this summer or fall...and extend into 2015
2) Record low Arctic ice sheet melt
Both those events will push many of the "ethically challenged" (deniers) into the camp of......."oh s**t, they weren't kidding......the planet really IS warming."
FOX will continue to deny it......but they never were a news channel anyway....only a propaganda machine for Roger Ailes.
Going to be an interesting year.....
A) Alternative energy stocks looking VERY BULLISH. Next move up may be LONGER....and maybe not as steep as before. But the LENGTH of the move up, I expect to be LONGER....
B) Arctic ice sheet is near record lows for this time of the year.....and it is set to melt like chocolate on a hot summers day. The melt season starts in earnest in a week or two.
C) El Nino is still looking "likely" later this year and into 2015.
D) If you want to get a laugh, or look to see how journalism ISN'T supposed to work......I suggest you watch FOX News. I laugh every time I watch them.....but at the same time I feel sorry for someone like that, who has to lie for a living.
This is gong to be a LONG process. But the next 5 years will be SCREAMING relative to wind and solar growth.
Some people just don't "get it".....they don't "see it". It reminds me of when PC's first came out. Some people could "see" where it was going to go and improve productivity drastically...but other people didn't see it.
So what are the benefits of moving to this new energy paradigm?
1) Energy that doesn't pollute the air and water and cause harm to people. We will be healthier.....
2) Energy that is an "annuity".....rather than having to dig or drill whenever we need more energy. You install it.....and then it keeps producing for 25 years or more.
3) It will be CHEAPER than fossil fuels as time goes on (it already is in some places). THAT....will speed up over time.
4) No more oil spills.........coal ash accidents......etc.
Now...the bad news. It will take time. This is not something that will happen overnight.....but it will happen faster than most people think right now....:)
What YOU need to do....is to write your congressman/woman and get them to support the movement towards alternative energy as fast as possible. The longer we wait (US).....the further behind we will be.
This is likely the bottom for SCTY. It more than likely won't make it all the way down to $60ish....
This has a long way to go to the upside over future years....just like many other alternative energy stocks....