Solar Stocks Commentary with J Peter Lynch -
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Solar Stocks Interim Update; Thursday 2-17-2011
J Peter Lynch
Note: At this time there is a general market comment advising caution at this time. It is not a time to be initiating new positions.
The overall market is currently in a very overbought condition, and a number of key technical indicators are also very overbought.
Not only is the market very overbought short-term, but it is extremely overbought intermediate-term above its long-term 200-day moving average, which I have mentioned in the last couple of updates. It is important to keep in mind that the more serious corrections have usually begun over the years from similar overbought levels above the 200 day average.
Individual Stock Comments
Canadian Solar (CSIQ) has shown an improvement in relative strength � taking a first step toward an upgrade in rating.
J A Solar Holdings (JASO) has closed up above $8.25 indicating that it has regained its upside strength
SolarFun (SOLF) has completed a merger and has changed its name to: Hanwha Solarone Co. Ltd and its symbol to HSOL. However, it is still the weakest of our solar seven stocks and would break a critical longer term support level with a daily close below $8.00.
Sunpower (SPWRA) has also shown improvement in relative strength � taking another step toward an upgrade in rating.
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