Citi Prayer..

There's no doubt that there are many people out there today praying for Citi Bank. They are praying that the stock would just stop going down any further;).    It is getting to the comical point where as if the entire stock market hinges on the well being of this little financial outfit.    Ok, it isn't so little and it is an important issue on traders' agenda right now.  But...give it a rest!...  We have talked enough about the credit concern on the banking sector and our view is still firm in this regard.   It's just unfortunate that this thing is dragging on us for as long as it is.    Well, it is kind of like people only pay attention to the lunatics in a party,  but never pay enough attention to the well behaved ones.   Right now, we can say that Citi and couple of others are in bit of a nut state while Google, Baidu and a likes are just chilling quietly.

Alibaba debuted in a predictable fashion today on HK exchange.    We are just glad that there are liquidity out there willing to chase up a good stock or a good play.   

Back to our action Monday!   Market basically got sold off on reasons that are obvious to everyone and it tried to make a pretty good attempt to recover toward the end.   We swear that if the market trades for another 20 minutes or so,  it could've closed green cleanly.    Many Chinese stocks were sold off today on the heel of a wicked drop in Asia.   Volume was particularly light on some of the issues that were sold off here and we were buying into some of our famaliar names including EJ EDU WX  etc.    Besides these, there are a few plays that were simply going the opposite ways of the market from the get go.

SPWR,  solars...compare to the shippers which we blew off this weekend for good as you know from charts updates,  this group had a relatively good day and SPWR stands out the most from the open.   Pretty obvious after many mentions which of the solars we favor.   If you want the JPMorgan report we mentioned before the stock went $5+ up more, just email us.    FSLR .....announced a 1 bill contract extension which may also be an interesting play for today and make others happy here  

PSEM,  although this one did not make it to IBD100 list, but boy did this one have a strong kick today.   Four days of strong closes in a row and this is obviously a revaluation of the company, based on its earning.    At this point, we aren't inclined to chase it aggressively but would rather play more on the dip side once it comes.   We think this play will last a while on our playlist, at least right till the next earning report.

TLEO,  bounced nicely after a case of profit taking late Friday.   If you are following these last 3 plays, you realize these were more than quick .75c trades yesterday as they've been mentioned for days now,  you had plenty of time to pick an entry!.  

If it wasn't for the 'growth' stock;), MSFT being a drag yesterday,  we'd have probably finished green!.