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While we're getting a little overexposure to the solar sector we're still buying 1000 SunPower (SPWR at $16.32
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With an RSI of 20 it seems very oversold to us at $16.3 and due for a bounce (mind you, the chart self updates)

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We also wrote an article about the company, which you can find here
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Not happy with the performance of Ambarella (AMBA), here is some of the rationale:
Shares of GoPro (GPRO) chip supplier Ambarella (AMBA) dropped Thursday after Pacific Crest cut its price target on the shares to reflect slumping demand for the action camera brand, which the research firm argued has led to "massive," ongoing inventory corrections. RESETTING MODEL: Pacific Crest analyst Brad Erickson cut his price target on Ambarella to $53 from $62 this morning to reflect "massive" GoPro inventory corrections amid weaker demand for the action cameras. The analyst scrubbed his Ambarella model to account for the "full magnitude" of the past nine months of GoPro inventory adjustments, which Erickson noted appear to be continuing based on his April 24 checks. He estimates GoPro-derived revenue to fall 51% in Ambarella's 2017 due to excess channel fill last year. All that said, while there could be "slight" near-term risk to Ambarella's second quarter guidance -- with the timing of GoPro builds being the key determinant -- Erickson still sees the long-term risk/reward balance in Ambarella shares as favorable given that the name trades at just twelve times his 2018 estimates. Moreover, with 2017 revenue forecasts looking for a 1% dip, the analyst believes the market is "largely prepared" for a presumptive lowering of the company's annual target. "Much" negativity is already priced in, Erickson added, and his checks with drone retailers indicate sell-through rates in line with expectations. The analyst reiterates an Overweight rating on Ambarella. PRICE ACTION: Shares of Ambarella have declined 6.7% to $35.67 in afternoon trading, while GoPro has fallen 6.4% to $8.85.
Read more at:
http://thefly.com/landingPageNews.php?id=2374553
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One might keep in mind what AMBA management said in the Q4CC regarding to GoPro:
In our December earnings call, we said that we expected a moderate decline in Q1 year-over-year revenues due to inventory adjustments at GoPro. Since that time, the actual demand from GoPro is expected to decline to the low single-digits as a percent of revenue in Q1, with the likelihood that this weakness will continue at similar levels until the launch of any new products with our chip. At this time, we remain cautious until we have a better picture of end user demand in this market.
Ambarella (AMBA) Feng-Ming Wang on Q4 2016 Results - Earnings Call Transcript | Seeking Alpha
So we wonder how much more damage GoPro can do to AMBA if, as expected, their part of revenue sinks to the low single digits in Q1..
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And now for some bad news..
Global fund managers have almost no faith in the latest stock market rallies around the world and have begun to fear the worst from Brexit, putting aside near record sums of money in cash as they brace for a ‘summer of shocks’.. Investors have already lost confidence in China’s economic rebound this year and are shunning British equities like the plague, fearing a financial crunch if Britain votes to leave the EU. What is puzzling is that this mood of deep alarm conflicts with clear evidence of accelerating monetary growth worldwide, usually a harbinger of better times ahead.
Global funds fear 'summer of shocks' despite boom in money growth
Having pointed out the gathering storm in VIX ETPs, raised concerns of a "reasonably high probability" of a large drop in stocks, and explained how complacently short-term risk is being priced, Goldman's portfolio strategy team have unleashed a dramatic warning. Shifting to an oveweight cash position for the next 3 months, Goldman warns "we downgrade equities to Neutral over 12 months on growth and valuation concerns. Until we see sustained earnings growth, equities do not look attractive, especially on a risk-adjusted basis."
Goldman Downgrades Stocks Over Next 12 Months Due To Risk Of Sharp Market Drop | Zero Hedge
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Surely they wouldn't, would they?...
The Fed sent a loud and clear signal that it would like to raise rates in June, but the decision may end up in the hands of the British. The Fed's release of its April meeting minutes showed the Fed's discussion reflected more of the recent comments from Fed regional presidents, who have also been warning markets were not reflecting its intention to hike interest rates. However, the minutes started a new divide on Wall Street: Fed watchers who think the Fed will move in June and those who think the Brexit vote eight days after the Fed's meeting could hold them back.
Why London could decide the next US rate hike
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