Today’s action in solar is a perfect example of why you need to find a name in the space, and build a position. Many will argue that the solars are done, but i disagree.
Solar stocks tend to correlate with the price of oil, but with oil breaking out to new highs many names have yet to follow. In my opinion, they have some catching up to do. With driving & hurricane season right around the corner, do you really expect oil to fall significantly lower?
I happen to be building a position in [[STP]] and will continue to add if the price falls lower.
In short, stick with a name you like, buy on weakness, and enjoy the next move higher.
Hope you caught the move today.
[[CSIQ]] [[JASO]] [[YGE]] [[SPWR]] [[ASTI]] [[FSLR]] [[ESLR]] If you enjoy the content at iBankCoin, please follow us on Twitter
