07Jul12:54 pmEST

Would the Last Bull in the Solar Sector Please Turn the Panels Off?

First Solar, often considered to be the best or safest solar name in the sector, is down nearly 10% today after a downgrade. The stock, as you can see below on the daily chart, has already been in a strong downtrend since March, and today's price action simply reinforces it. 

Solar continue to be the one sector we have abhorred for Members for as far back as memory can recall, largely due to the vast array of disappointing charts and lack of follow-through on any rallies, even as crude oil bounced back at various junctures this year.

Speaking of which, the crude weakness today post-inventory could easily serve as the spark to usher in the next leg down for solars as a group, given the intimate relationship between oil and solars. 

Hands off, sill. 

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