The Sun Will Come Out Tomorrow…

Tomorrow morning we get the numbers from Canadian Solar Inc. [[CSIQ]] , and I am long and hopeful for the group. After First Solar, Inc. [[FSLR]] let some steam out of the balloon, the sector has yet to really regain its mojo, but that could soon change.

Just after the bell we had a good report from [[RSOL]] , with positive news from CSIQ tomorrow, the group could ignite. Following good numbers, I will look to two names for some more pin action:

JA Solar Holdings Co., Ltd. (ADR) [[JASO]] Nice support with it’s moving averages below price:

LDK Solar Co., Ltd. [[LDK]] I’m buying this one on strength:

Following a bad report for Canadian Solar Inc. [[CSIQ]] coupled with a weak market, watch for a further breakdown in First Solar, Inc. [[FSLR]] . I want to short this thing with a break below the 200 day moving average:

What a day for America’s finest companies, just take a look:

• American International Group, Inc. [[AIG]]
• Fannie Mae [[FNM]]
• Freddie Mac [[FRE]]
• CIT Group Inc. [[CIT]]

I picked a fine afternoon to sit out of the market as opportunity is plentiful. This is a another perfect example of why it make no difference where the S&P 500 is trading, there is always money to be made.

Well, sticking with P.O.S. companies, maybe E TRADE Financial Corporation [[ETFC]] can catch a bid. I will be looking for strength to jump in:

The S&P500 hit a brick wall at 1007, and will be tough to trade above this level without some sort of consolidation. A pullback to 950 could be in order and viewed as a healthy pullback.

This morning, I took profits on a number names to make room for more cash in my portfolio.

Think IntercontinentalExchange, Inc. [[ICE]]

Take a look a this beautiful bear flag:

With earnings out the way, I will be buying puts in ICE with a breakdown in the flag pattern.

These were spotted by my good friends Mr. Chart Addict & Mr. TraderMarket24/7

The PMI Group, Inc. [[PMI]] inverse head and shoulders, breaking out above $3

Popular, Inc. [[BPOP]] A foreign regional bank, this one smells like money in the bank. I rate it a strong buy over $1.41:

The market is on fire, yet again, with big players like Research In Motion Limited (USA) [[RIMM]] & Morgan Stanley [[MS]] breaking out. Gold also looks good to go, and I see a bunch of great setups in the metals. How ’bout dem financials? We finally got our break in Huntington Bancshares Incorporated [[HBAN]] with clear skies in front of it.

In the small cap arena, we have stocks like China Architectural Engineering, Inc. [[CAEI]] & Spreadtrum Communications, Inc. [[SPRD]] breaking out, which were highlighted on my chart.ly page. There is so much money being made on the long side, I feel sorry for those who keep betting agaist it.

But, to tell you the truth, I’m about ready to take profits on a number of core positions. Stocks like W&T Offshore, Inc. W&T Offshore, Inc. [[WTI]] & Stone Energy Corporation [[SGY]] , have been on a freight train higher, and I think it may be time to take a little off the table.

And, again, all my buys and sell are listed in The PPT, so come hang out on the other side of iBC.