S&P 500 was under intense pressure to go to 1270.05 the 52 week low...but it did NOT went there.......
So...hedge funds will try another shot @ that number on Monday......
We will WAIT to see the result of that effort & see how the close will be on Monday......
Based on everything I have seen...this TAPE IS the worst ..I have ever monitored.......
Are we close to the end of this carnage ?????
Monday close will give us a very good idea....I hope !!!!
In my portfolio :
I sold 75% of CMED because of weak tape $3 loss per share.....
Put the entire proceeds in COIN....cost $14.98...liked the way it came back with market...
My portfolio is :
CSIQ,CMED,COIN,LDK.......
CSIQ rating 25/80 target $22.83
CMED rating 75/70 target $39.07
COIN rating 25/30 rated for a "breakout" @ $16.23 with a target of $19.83
LDK rating 35/70 "breakdown confirmed @ $23.85" downside target of $17.43...IF NOT 1st UP target is $26.81......
The following are RSI rating on my stocks :
CSIQ 50.67
CMED 24.63 ( lowest I can remember...that IS the reason I kept 25%)
COIN 62.91
LDK 28.47......looked like there was "capitulation today & LDK went to new 52 week LOW"..but closed ABOVE old $22.27 new 52 week low $21.54..closed @ $22.49......"all on over 4 times average volume......
LDK has been "crushed to a level which defies any investing/trading logic...On Dec 17th LDK was @ $75.65....in 80 calendar days or roughly 58 trading days......LDK lost 71.5% of its value on beating sales & EPS in Q4 ?????
LDK is expected to earn $1.79 12/08
LDK is expected to earn $3.58 12/09
So .....LDK PE
12/08 PE 12.56
12/09 PE 6.28
CSIQ PE...closing price $20.48
12/08 $1.56
12/09 $2.47
CSIQ PE 12/08 13.13
CSIQ PE 12/09 8.29
Other solar stocks PE for comparison :
STP 12/08 $1.80 PE 18.93 12/09 $2.89 PE 11.79
SPWR 12/08 $1.54 PE 38.96 12/09 $2.92 PE 20.55
FSLR 12/08 $2.51 PE 78.41 12/09 $5.41 PE 36.38
It IS giving a clear picture...which solar stocks are "real Bargain"
10 AM Saturday....I will give a list of technically WEAK/STRONG & new buy list of stocks !!!
Have a good weekend !!!!
BLOG does NOT give buy or sell.
Saleem
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