Monday, August 11, 2008
Monday Intraday Psychology, FSLR, OIL, S&P
Good Monday to all our forward thinkers ~ The indexes are up intraday as oil continues its pullback, disregarding geo-political tensions, caution. Even though the markets are the best discounting mechanism of the future, they exhibited a two day lag to the Paulson-FRE-FNM-Treasury news one month ago, and POTC sees a similar scenario unfolding. We predicted oil would break $120/barrel and the alternative energy plays would fall many weeks ago. Although we don't know Pete Najarian's current opinion on coal, we do know he was very bullish. Peabody Energy Corp. (BTU) was one of his picks and it's down from the $70 range to $53 today. Also, Cramer's pick First Solar Inc. (FSLR) has pulled back sharply as well. -------------- If you would like to receive this and future posts and market analysis, please send an e-mail to Psychologyofthecall@gmail.com and make sure that your e-mail client will not consider messages from that address as spam.
Posted by The Call Team at 2:00 PM