Market monitor is showing extreme reading for last few days. Such extremes usually result in a bounce. Let see if the theory proves correct. I have closed my all but one position. This one is a long term and I have committed very small amount to it so I am not worried about market conditions for this stock.
Double trouble candidates for 17th Dec
TEO - Penny share. Ignore
Double trouble candidates for 18th Dec
EPO - Nothing exciting about this share. It made loses recently. It is from software sector which hasn't being doing good lately. Volume is high but the high spread between bid and offer is putting me off. Also share has rallied by more than 10% in last 10 days.
SOLA - Volume is good but the correction from peak was huge. The share was up by more than 10% on following new contract deal
"ReneSola is doing well Tuesday after the solar cell producer said it has signed new deals with JA Solar Holdings and leading global photovoltaic companies. The firm has signed a long term sales contract with solar cell manufacturer JA Solar to supply 600 megawatts (MW) of solar wafers over five years, beginning in the second half of 2008. This is in addition to the 60MW wafer sales contract announced in August. Tolling production contracts for the processing of an additional 500 tonnes of polysilicon to be delivered in 2008 have also been signed with leading global PV companies, said the group. It has also entered into contracts to procure over 1,000 tonnes of feedstock for 2008, which chief executive Xian Shou Li said will help the company achieve its growth plan for 2008."
This is a good catalyst to trigger a rally. Buy with caution.
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