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Solars And Fertilizers Still Attracting Buyers!

|Includes: AGU, CF, CSIQ, FDX, First Solar, Inc. (FSLR), MOS, POT, SPWR, STP, TSL, UPS, YGE

The market was stagnant today, spending most of the day slightly up.  But, it sank into the red in the afternoon, although not by much.  A couple of sectors stood out, however.  Solars and fertilizers were strong from the open and kept most of their gains.  In the Sector Watch section of my article last night, I specifically mentioned buying in these two groups.  In Copenhagen, Climate Change Conference kicked off and the Environmental Protection Agency reported greenhouse gases are endangering people's health and must be regulated.  FSLR jumped $5.56, gaining more than $13 in 3 trading sessions.  Other big gainers in the group include:  STP +9.59%, TSL +3.25%, YGE +4.7%, CSIQ +3.43%. 

This morning, there were more upgrades in the agricultural stocks.  Both POT and AGU were raised to "Buy" from "Hold" rating.  POT added +3.51% while AGU finished +4.78% higher.  MOS gained +2.83% and CF climbed +1.14%.  After the market, FDX raised its 2Q earnings guidance.  FDX shares gained +3.14% in after-hours trading.  UPS also traded higher, by +2.47%.

The Dow was up +1.21 points; SPX slid 2.73 points; Nasdaq lost 4.74 points:

GLD (gold) and SLV (silver) were both down again.  However, XME (metals and mining) managed to stay green.  SOXX (semiconductors) and BTK (biotechs) kept minor gains.  XLF (financials) fell 1.64%.  UNG (natural gas) popped +6.71% while USO (oil) dropped 2.19%.  FXI (Chinese ADRs) was down 1.52%.


SPX slid 2.73 points to close at 1103.25.  It closed at its 10-day MA.  Its MACD slipped.


Nasdaq lost 4.74 points to close at 2189.61.  It closed above its daily MAs.  Its MACD glided up.

The market has been trading in a tight range for the past 3 weeks and should be ready for a big move soon.  It has been seeing strength whenever gold rallied, as gold seems to inspire the commodity sectors.  But, the lack of response from the financials have kept the lid on the market.  As I have been saying for the past 3 weeks, we need to see strength in the financials for the market to break higher.  The raise in earnings guidance from FDX this afternoon may give the market a boost in the morning.  But, we'll have to see if the financials can rally with the rest of the market.

Good night and HappyTrading! ™

Disclosure: No positions on the stocks mentioned below