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A few nights ago I wrote about the solar stocks being one of the laggards from the past few years. Specifically, I noted that they were almost out of the forest, as they looked to have turned a corner in favor of the bulls. High beta solar stocks like JKS TSL and YGE are screaming higher today, even after already moving higher in recent days and weeks.
The weekly chart sheds light on the situation, as we can see that TAN, ETF for the solars, has room to run to just below $4 before we are likely to see some supply hit. At that point, I would look for a constructive pullback and a higher low to form an inverse head and shoulders bottoming formation. In other words, if you missed the move in solars, there is no need to mope. The move could easily be getting started–It just requires some patience at this juncture.
Oh, and if you wanted to catch the move, you could be inside 12631 with @RaginCajun crushing these trades day in, day out.
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http://econ.st/oVW6h3
decent read