Google Energy?

According to the New York Times, Google's (GOOG) looking at the energy sector as a potential business opportunity. From inception, the company has invested millions in making its power-hungry data centers more efficient.

But recently, CEO Eric Schmidt has hinted at the company’s interest in investing in energy and has teamed up with General Electric (GE) CEO Jeff Immelt on technologies and policies that would improve the electricity grid.

For related information, see Solar: A Ray Of Light In Bailout Bill by Ryan Goldberg.

From the Bull Pen: Looking at solar stocks, we see what appears to be a bullish double- bottom formation in First Solar (FSLR) above $100. Bulls can set an initial position here with sell stops below that level.

From the Bear Cave: A great company, but the hyper growth days for Google are over. And with 99% of its revenues from advertising, the challenges are intimidating as we head deeper into this recession. Bears can fade (read: sell) this stock into the $380 level.


Quick Check Around the World

Asian trading closed with the Hang Seng 14.35%, Nikkei 6.41%, Taiwan 0.76% and Shanghai 2.82%.

Glancing towards Europe, we see the CAC 2.70%, DAX 8.37%, FTSE 4.30%

As of 8:10 a.m. EST, S&P Futures are trading +35 to 870, and Nasdaq futures are +48 to 1210.


A Look At Commodities

Crude oil is trading +1.53 to 64.76. Gold is +7.1 to 748.80. Silver is -0.040 to 9.170 and copper is +11.10 to 178.60.

The dollar index is -0.014 to 86.930.


On the Radar

Economics

09:00 S&P/CaseShiller Home Price Index
09:00 S&P/CS Composite YOY
10:00 Consumer Confidence
10:00 Richmond Red Manufacture Index

Click here for the full trading radar.

Turnaround Tuesday! Good luck!