First Solar, Inc. (NASDAQ:FSLR) continues to drop, even in the face of a solid rally on Wall Street. The stock is trading at $18.12 -0.52 (-2.79%). This stock broke its previous support of $20.00 on Monday and is now headed for $17.00. Once at $17.00, First Solar becomes an attractive bounce candidate.
This morning, many of the leading cloud computing stocks are failing to rally with the technology sector. This is very strange since the NASDAQ Composite is higher by 2.00 percent at the open of the session. One of the leading cloud computing stocks in the market is Salesforce.com Inc (NYSE:CRM). This stock is trading lower by 0.73 cents to $149.25 a share.
(UFPI, ULGX, GMCR, CRWE) StockBling.com Stock Market Updates
This morning, some of the leading cloud computing stocks are coming under selling pressure. Leading cloud computing stocks such as F5 Networks, Inc.(NASDAQ:FFIV), and VMware, Inc.(NYSE:VMW) are leading the cloud computing sell off. Both of these stocks have already bounced off of the morning lows.
Coffee Makers Spill All Over the Map; Tim Hortons & McDonald's Burnt by Starbucks' Success
(UNH, THC, CRWE, FSLR) StockBling.com Stock Report
(NEE, CRWE, FSLR, FLT) CRWENewsAlert.com Stock Market Report
The markets are seeing some selling on worries stemming from China and Europe. China lowered its growth rate to 7.5%. This is bearish for the entire globe as most advanced economies rely on China. In addition, European issues have started to bubble up again. Things with Greece are getting messy and Spain has said they will not meet the spending cuts required by the bailout of 2011.
First Solar, Inc. (NASDAQ:FSLR) is trading at $30.38, -1.92 (-5.94%). The stock continues to get hit after reporting quarterly results that did not meet expectations. While this news has sent the stock price lower, many traders are looking for the bottom. The key is to look at the chart and discover the next major support levels. The first obvious level is the 52 week low.
(MOBI, AUTH, FSLR) Noticeable Stocks by PennyGovernance.com
(PERY, CRWE, IRBT, GMCR) Stocks Reported From BestOtc.com
The Wednesday before options expiration is usually the most volatile trading session of the week. We call this trading day 'Whipsaw Wednesday' as the action will usually be very erratic. This is a time when the large institutional traders will try and shake out the small retail options traders that is playing the near term expiration.
Is This The First Real Decline, Or Options Ex Game Playing?
The major stock indexes are finally declining lower. Since December 19, 2011 the markets have rallied higher. Lately, every intra-day pullback was being bought by investors and traders. Many people are now calling this a market top, however, one day does not make a trend. These market were severely overbought and extended, therefore, a pullback or decline was certainly overdue.
On February 17, 2012, it will be options expiration. The days leading up to the actual expiration will usually make for a lot of volatility in many of the popular and highly traded stocks. Traders and investors must understand that this week is notorious for rumors and game playing by the large financial institutions.