Sunday, August 24, 2008

Alt Energy Stocks Update and than some...

I was long on quite a few names in Alt Energy Sector, most of those performed admirably over the course of last few weeks ( BLDP, PLUG, LDK, CLNE, ASRI, AKNS, CY and so on). Now most of above look really overextended and some - quite "tired". I'd say it is time for some consolidation and depending on Oil prices, they might even become shorts. Although I am kind of slightly bullish on oil and therefore will, most likely not initiate any short positions in Alt Energy Sector.

In ag names (MOS) looks very temping on the long side and as a "pair play" (HW) calls, for least to say, consolidation or a low risk short.

In Wind Power related, Cramer's favorite MTZ looks like a great short, not the first time his faithful will get burned and handle me their money, I could say that "Fool and his money will part", but then I will have to ask how fool got his money on the first place, but no matter what it never seize to amuse me how he calls his longs right before the major collapse and, shall he and his sheeps be less arrogant and more knowledgeable about technical analysis major disaster could have been avoided. Oh well, there always is someone who loses and it'd better not to be me...

Here is a chart of yet another recent Cramer's favorite - I love that guy, just remember that the best sign that bear market has ended will be the day when he'll disappear from TV for another 5 years - just like back in 2002.

Speaking of Cramer's Wind Index, one of the stocks, which lost over 20% after him liking it, looks pretty good long right now - (TRN)

For the "penny stocks lovers" (I would never touch any such stock with the 6 foot pole) - ASTM might have something brewing (unless it just burnt cash leftovers and going straight out of business).

Blocks layouts I use for identifying trend reversals were sent to regular contributors, I'll be able to send those to few more contributors, after that I will "freeze distribution" - it is not in my best interests for too many people to have it.