Ok, now we have an unraveling of solar burrito stocks.
With big breakdowns in [[FSLR]], [[SOLF]], [[LDK]], [[CSUN]], [[STP]] and [[CMG]], it appears the bulls are losing faith in its rubbish.
However, much to my chagrin, Chinese stocks are somewhat bullet proof, bouncing in today’s queered out tape.
On the downside, we have breakdowns in energy and other basic resource names, such as [[RS]], [[SCHN]], [[BOOM]], [[CLF]], [[X]], [[HOC]], [[TSO]], [[VLO]] and [[SUN]].
The way I see it, we are due for an oversold bounce, but key leadership names have shit the bed. So, with that being said, I want to sell into this small spike and set up for the next leg down.
On the upside, [[NTRI]] is killing the shorts, alongside [[WBD]], [[MVIS]], [[GILD]], [[JWN]], [[STJ]], [[LLY]], [[MO]], [[NIHD]], [[SNE]], [[BG]], [[SHW]], [[CL]], [[HWAY]] and [[ABT]].
Finally, [[RIMM]] is touching down on $100. While it’s tempting to reload and buy some more RIMM here, for now, I will hold off—waiting to see how the general markets pans out. Plus anyway, “The Fly” is waiting for small Iranian boats to get nuclear bombed out the water.
NOTE: With oil breaking down [[DCR]] and [[DUG]] look great here.
NOTE II: [[CROX]] looks like a small bag of garbage.