Usually I'd say you know you are late in the rally when the solars start taking off, but since every other historical indicator I use has become moot under The Bernank, I'll just pass this along as information and sit back as Groundhog Day happens for the upteempth time since late August. Looks like Yingli Green Energy (YGE) and Sunpower (SPRWA) earning reports are the drivers today, but these already had started to move en masse late last week. I don't follow this sector closely anymore as it is a heartbreaker (after dry bulk shipping, probably the worst sector the past few years) ... heck even Solarfun (SOLF) has gotten serious and changed its name to Hanwha SolarOne (HSOL) after the Korean company took a major stake. (what fun is that?)
At this point just change the name of the laggard sector, and repeat the parabolic moves. Refiners, solars, you name it - we can Bernank it upward.
A sampling of names in this group...
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows