Wednesday, March 12, 2008

PBW 3/12


PBW has hit another bottom and has moved up over a dollar from that low. I am thinking there might (and I stress might) be a W forming here. The 50 day has crossed over the 200 day average and is located just at the middle of the prospective W (at about 23). I believe there is a short term bullish call up to 22.50. There will be some resistance at that point so watch out for that. If it breaks through this point, we will have a W. If not, I would wait and figure out if there is a range to be traded. Another note is that the bands have opened up and this stock has a history of riding the edges both negative and positive. Keep that in mind. Here is a graph as of 10:45 CST today. Stories of the day are below the graph.

Thanks to Yahoo Finance, Optionsxpress, and Powershares.

Seeking Alpha article on PBW

Seeking Alpha article on Suntech

TSC article on CREE

WSJ article on ITRI

Yahoo! article on Solar

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