A nascent market melt-up appeared to be in progress Monday morning as the indexes rallied robustly to start the week, carrying most stocks higher with them. In addition, several of the stocks I discussed as potential longs in my weekend video report were on fire. In that video report I discussed the situation with oil, coal, and energy-related stocks in detail to come up with what turned out to be a very effective plan of action.
Instead of advocating that we all start chasing oils and coals, I suggested looking elsewhere among potential follow-on groups. It used to be that when oil prices rose, solar stocks rallied as higher oil prices have generally been seen as an incentive for energy consumers to shift toward solar. I discussed four names in the space, Enphase (ENPH), First Solar (FSLR), SolarEdge (SEDG) and SunPower (SPWR).