Sune

SUNE update

Hamilton

sune june 21 2015

May 10th at $28 and change this one looked well done. Today, 40 days later and about $2 higher it looks even better done. Perhaps, like the mythological figure of Icarus, this one is getting too close to the sun and is about to drop back to Earth. For the record we did suggest buying FSLR in April of 2012, but not this one having never even heard of it. So we missed the proverbial boat and , from here on, would prefer to keep missing it. As with the previous blog there may be a triangle around about $19. This could, if it actually exists be either a B or 4th wave triangle. We prefer the latter, partly because if the former applies the implications are far more bearish. So expect a drop back to at least $12.50. Our usual technical indicators, RSI and MACD are pointing in the same direction. See also CSIQ which we would have shorted, see previous blogs.

SUNE, SunEdison Inc. Z, Zillow

Hamilton

Z may 10 2015sune may 10 2015 s

Zillow, on the left, is a relatively new company. They tell you what a property is worth if you put in the correct coordinates. This blog is NOT about Zillow!

SUNE is America’s largest “renewable” energy company. A lot of energy (electricity generating) companies are named after Edison in the US. It has been around in various forms for some time now. For the moment we are interested in the last 3 to 4 years only. Both charts display a pretty standard 5-wave bull market sequence, both in roughly the same proportions with wave 3 the longest or, at least, not the shortest and wave 4 probable a triangle. This, according to EW, is essentially how all stocks behave and more often than not it is easy to see “the picture” if you gloss over some of the detail. Once 5 waves are done you inevitable get a correction. Done, or mostly done, in the case of Zillow which IPOed  three years ago, not even started in the case of SUNE. Then the whole process starts again etc. etc.. It helps to know where you might be in this process. Looking at the big chart of SUNE;

sune may 10 2015 b

it looks like we are in a new bull market with a lot of potential but not before wave 2 is done, at somewhere between $13 to $11 or perhaps a little lower.