I think the solars go higher but need a breather. When you see what I call the “junior solar” plays get red hot after the big solars go parabolic it may be time to take a breather. Today they opened very strong, SOLF, for example, opened gangbusters,traded sideways for a good part of the day and then filled the opening gap entirely before it staged a late 3:30pm rally. Some “smart money” thinks that mid-January they may come down like a house of cards. I don’t think that far in advance as most of my trades are closed by 4pm. I may miss an occasional FSLR up 50pts. in aftermarket, but I also miss the BIIB’s down 25 pts in the aftermarket. It just helps my sleep pattern. I am still bullish on the group but am being more cautious.
If any one thinks the agricultural stocks are perhaps a bit long in the tooth a good way to play shortside is Market Vectors Agribusiness ETF on the short side. The symbol is MOO. I love the group and am a huge believer in buying strength and selling (shorting) weakness. I think it is a strong group just a tad toppy.
QSC- i mentioned it in Tuesdays post. I thought if the stock could get through $6-6.25 with authority, (volume)- it could run to $8-8.50. It looks like it is under some serious accumulation as the stock traded to $6.24 on very good volume today. I still want to see breakout type volume around 1.5 million shares. Keep it on the radar.