This afternoon, the major stock indexes are coming under selling pressure once again. Most leading commodity, energy, and financial stocks are trading lower across the board. The one area of strength in this market is coming from the semiconductor stocks. These stocks are not trading higher by all that much, however, they are continuing to hold up well in a very tough stock market environment.
(RSOL, SNDK, AVCA, CLNO) Stocks in Action by BestOtc.com
Real Goods Solar, Inc. (Nasdaq:RSOL) a leading residential and commercial solar energy EPC provider, announced results for its second quarter ended June 30, 2011. Net revenue for the second quarter of 2011 increased 13.8% to $20.0 million from $17.5 million recorded in the same period last year. The majority of the year-over-year revenue growth was organic.
Believe it or not, this Friday is options expiration for the month of August. After experiencing last week's crazy action in the stock market this week could see more of the same type of wild intra-day swings. Often during the week of options expiration the major stock indexes and the popular stocks will trade in a very volatile and choppy fashion.
This morning, the sky was falling as the major stock indexes plummeted, however, after a heavy volume surge after the open the major stock indexes started to recover a bit off the lows. At one point, the Dow Jones Industrial Average(DJIA) was down by more than 150.00 points before bouncing higher. This afternoon, the DJIA is trading lower by just 20.00 points.
This afternoon, the major stock indexes are plummeting sharply lower. The catalyst for the decline is obviously the failure of Washington coming to some debt ceiling resolution. At this point, it really does not matter if the debt ceiling gets raised or not, it really comes down to knowing what the politicians are really going to do.