Topping Patterns: Solar Energy Stocks

Just as they seemed to have enough momentum to continue their climb, many of the solar plays seem to be putting in topping out chart patterns. This shouldn't be too surprising especially if one considers their exhaustive runs. I actually thought that they would have had the strength to close a bit more positively but profit taking has taken its toll on the solar energy stocks by the end of the market day. I bought JASO today and I have held YGE for some time now. I'll have to let them go if they continue to show weakness.

YGE: Although it closed up 5%, its chart pattern shows an indecisive close at best.

JASO: JASO reversed the 52 wk high that it established earlier on and actually closed in the negative, near its LOD.

FSLR: Similar mixed sentiment close (like YGE).

STP: Mixed/Indecisive close

SPWR: Reversed earlier gains and closed negative

LDK: Closed negative.

At the moment, TSL has the best looking technical pattern. In fact, I may substitute either JASO or YGE for TSL. We'll see tomorrow.