Deep Market Thoughts...Solar Resistance and Water Shortages?

It is 105 plus degrees in Phoenix today. Nothing makes people more cranky than hot, sweaty balls in May. Pant wearers are in a murderous rage in Phoenix today. Yet, solar stocks reversed hard today from a dizzying short-term run.

Probably the biggest ‘tell’ for a market reversal is the stop I took on DELL at $21.

Today there are a lot of other smart traders pointing out reasons to at least ‘NOT BE A HOG’.

Trader Mike has a great summary of some hot solar and market action.

I am taking some solar profits myself. It is hard to think that solar is a bubble when oil is at $125 and it’s 172degrees in Phoenix, in May. I remember my wedding in may 13 years ago and we were worried about a temperature spike into the low 90’s for the outdoor wedding. Thirteen years of temperature creep has made 100 plus degrees in May a regular thing.

The Fly sums up how I feel , but I am still long many stocks.

It has been a fantastic run for many stocks since Dow 12,500.

If you read this blog, you should have been buying Amex, Goldman, Apple and Google down near the lows. I would therefore quantify today’s prices as nothing to be ashamed about in taking profits.

PS – I would love to see Chipotle’s in the mid to low 80’s and reload for myself and the kids.