Said it before but bears repeating: when in doubt buy renewable energy…
Simple as that. Solar stocks will fluctuate with the market and with fossil fuel stocks but one day on some market swing (maybe this one) they will leave the fossil fuels companies withering in the sun, so to speak.
Recently oversold, here are a selection of solar stocks today:
(right click on chart for a larger view)
Had 45 of the 50 stocks in my nifty-fifty stock list on sells yesterday (2/9/16). That doesn’t guarantee a rally but often signals a turn in the market for at least a bounce.
And after today’s overnight down and the run up during the market’s regular session, it appears a reversal may be in. Another hint that we may go up some from here came in the Dow stocks today – only four remained below their opens at the end of the day and two of those slip at the close.
My longer term swing signals have not entirely turned bullish yet so a rally long here remains iffy until further confirmation.
(right click on the chart for a larger view)