I don't know about any of the other solar plays, but I expect SCTY to make the low of this mini-correction this week -- probably just a retest of the 50-day MA area.
Just a little more consolidation to go, in my opinion. I think a quick shot to 49 or even a little lower is possible. Under what I consider normal circumstances I would probably sell my position and buy back lower, but SCTY is approaching the most bullish part of its longer term wave pattern. That would be the 3rd of the 3rd of the 3rd. Not a time to sell. We'll see how it all unfolds, but I am still extremely bullish now and I've been very right for some time now on this stock. Reading it like a book as they say.
I'm seeing a lot of third wave extensions setting up in tech. This is making me more bullish. I'm starting to think we see the bull market last longer than a lot of people think right now. We'll see.
jmcvicker, I hope you're not talking yourself out of a great stock trade. It sounds like you might be. The correct trade for the next many months is long SCTY.
Serious question? Sounds like you know as much about finance as you do about technical analysis. Wow. About all I can say. I honestly think you should channel all this energy into something productive.
I think so too. In fact, if the general market goes higher from here without going much lower than it has already on this correction, then I'll be wildly bullish for the next many months. Gotta make hay while the sun is shining.
I find it hard to believe that you have any position here, david_gaithersburg. If you're really short, which makes no sense given the chart, then you just might be the worst trader in the world. Whatever. I think you deserve to be ignored. Bye.
Maybe, maybe not. I think it's too risky to try to time what will probably be a very small move down (if any) and miss a massive gap up. I'm looking for a strong move up to begin at just about any time. We'll see what happens.