Oil has dominated the headlines for energy markets this year so you might have missed out on the growth building up in alternative energy. Specifically – solar.
Just take a look at the chart for Guggenheim Solar ETF (TAN).
Chart courtesy of StockCharts.com
It's sold off quite a bit from its mid-April highs, but looks severely oversold based on its RSI reading of just 28.52. Still, it's up more than 20% year-to-date and looks like it will reverse course and trend higher from here.
The solar industry may be a volatile market, but it's also the fastest growing sector of new energy capacity for the next year according to a report by Bloomberg. It's expected to grow 30% compared to wind at 12%. According to one source, solar could power over 7.6 million homes by 2016 – a 21 times increase over the 360,000 homes powered by solar in 2009. Continue reading "Energize Your Portfolio With This Alternative Energy Play"
The Energy Report: You call yourself an "outsider," and have founded an investment club of that name. In what sense are you an outsider?
Nick Hodge: Being an outsider stems from my upbringing. Both my parents were middle to lower middle class, and I never had anything given to me. I've always had to work for what I have, starting with a lawn-service business when I was 12 and working my way through college as a butcher. I look at the "mainstream" with a skeptical eye. I'm a contrarian. I'm not on the inside of big business, big banking and politics, and don't want to be.
The Outsider Club has been around for about a year now. I founded it after writing for several newsletters over the past decade about energy and speculative investments.
TER: What does being an outsider mean with regard to your views on energy?
NH: I'll give two examples. First is my belief in the peak oil theory. Second is my early adoption of a belief in renewable technologies, such as solar and smart-grid technologies.
TER: It would be safe to say you're not an admirer of our financial elite? Continue reading "Want to Avoid Oil's Gloom? Turn to the Sun, Says Outsider Nick Hodge"
Today, I'm going to be updating you on some stocks that I've been discussing for the past several weeks.
These stocks will include Tesla Motors Inc. (NASDAQ:TSLA), that just made a new high today.
Amazon.com Inc. (NASDAQ:AMZN), which is up over 3% today.
First Solar Inc. (NASDAQ:FSLR), which has also been acting well lately.
Apple Inc. (NASDAQ:AAPL), which is holding well and seems poised to move higher.
I'll also be taking an in-depth look into Netflix Inc. (NASDAQ:NLFX) and gold (FOREX:XAUUSDO).
Every success with MarketClub,
One interesting stock to keep your eye on today is First Solar, Inc. (NASDAQ:FSLR), which broke over a long-term downtrend line in October 2013 and has been moving sideways, but slowly inching upwards nonetheless.
Today's market action in this stock is going to be important because if it closes towards the highs of the day, somewhere around $64.00 as of this writing, a Japanese candlestick "morning star" formation will be created. This can be a strong indication of a reversal to the upside.
This stock has also made a double bottom at $60.75 and again at $62.58. On both the monthly and weekly charts, the RSI level remains above 50, indicating that the longer term uptrend is still intact. This coincides with the monthly Trade Triangle, which remains green and positive. Continue reading "Keep Your Eye On First Solar, Inc. (NASDAQ:FSLR) Today"
It's hard to believe, but here we are coming to the end of the trading week and also the end of the second quarter. We only have a few more trading days before Q2 is done and dusted.
Earlier this week I wrote about Tesla Motors (NASDAQ:TSLA) and First Solar (NASDAQ:FSLR).
I still believe that both of these stocks will move higher, as the Trade Triangles are all in place. If you missed these posts, you can read about Tesla here and First Solar here. Both of these stocks are higher for the week while the general stock market is flat. I view this as a psychologically positive sign for these stocks.
Last week I also posted a special report on gold. I still believe gold is going to remain in a positive upward trend until about the middle of August. That is when this market next cycle should top out. As always, money management stops should be in place on all positions. Continue reading "Are You Prepared For Q3?"