Okay here's the deal. Now that interest rates have fallen - companies which were rumored for buyouts are now in play. For example - ICE, CLWR. In addition, this is very bullish for Blackstone (BX), as they might be able to pull a few deals through that have been suffering. I can't reiterate how important the drop in retail interest rates is to the economy and the market. Not saying it's all clear from here though. We are extremely oversold and need to hit some moving average lines.
I had a surprisingly great morning
FSLR in 157.55 out 169.20 for approx$12/share profit
WFR in 67.82 out 71.8 for $4/share profit
ICE i'm in at 145.16
FMCN i'm in at 48.36
CLWR i'm in at 11.15
Update
ICE Out at 147.53 +2.37
FMCN out at 49.45 +1.09
Holding CLWR
I was blown away that FSLR went as low as 149 after I sold at 169 - classic pump and dump scheme. SPWR guided revenues lower than expected... the shorts were waiting for this day. Still bullish on solar though - we'll see how they fare today. SPWR's forward PE is around 30 now - for a sector that's growing at 100% yoy, seems fairly undervalued. Also, as the cost of polysilicon begins to stabilize/drop, their margins should greatly improve. We have earnings from WFR tonight.
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