Gain was anemic, but up is up
If the trend on Wall Street meets the hopes of Main Street then March 9 could have been the end of the recent bear market going back to last May. The Dow ended up a second straight week gaining 54.40 points or .7575%; the NASDAQ up 25.77, +1.8%. The Key Solar 20 were up an anemic .1381% but up nevertheless. Big gainers were Canadian Solar and Solar Fun. ECD (UniSolar) took the largest hit dropping 5.89, a 30.81% decline for the week.
Implementation of solar's benefits in the stimulus package are in fledgling stages. Solar manufacturer's who are getting the 30% tax investment for themselves for the first time likely will take advantage of the incentive if they are not being stymied by the credit crunch. Something's bound to give because homeowners and businesses--in California, anyway--are looking to install solar this year
As for the overall stock outlook, MarketWatch reports analysts touting the three "9-to-1 up" days since March 9. A "9-to-1 up" day refers to the volume of all NYSE-listed stocks that go up on a single day. If the number of rising stocks is the same as declining stocks volume, the ratio would be 50%. So a "9-to-1 up" day is when 90% of the total volume is up on a single day.
Such a large imbalance of up-volume "is a significant sign of positive momentum. In other words, when daily up volume leads down volume by a ration of 9-to-1 or more, that tends to be an important signal on stocks," writes Martin Zweig in his 1986 book Winning on Wall Street.
An even more bullish signal is several "9-to-1 up" days in a short period of time, said Zweig. The theory was tested recently by a finance professor and his students at Baruch College. Using historical data from 1942 through this February, the results were appreciably positive. Read more at: http://www.marketwatch.com/news/story/Significance-recent-9-1-up/story.aspx?guid={811E2796-2456-4BF7-AEA4-8F7F73BF78D8}&dist=SecMostRead
Week of March 16-20, 2009
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09 | |
| Dow Jones DJIA | 7223.98 | 7278.38 | +54.40 | +.7575% | 8952.89 |
| NASDAQ | 1431.50 | 1457.27 | +25.77 | +1.80 | 1628.03 |
| Akeena Solar AKNS | .6702 | .75 | +.0798 | +11.90 | 2.28 |
| Amtel Systems ASYS | 3.30 | 3.06 | -.24 | -7.28 | 4.00 |
| Applied Materials AMAT | 10.49 | 10.21 | -.28 | -2.33 | 10.67 |
| Canadian Solar CSIQ | 3.72 | 4.50 | +.78 | +20.96 | 7.00 |
| ECD (UniSolar) ENER | 19.12 | 13.23 | -5.89 | -30.81 | 29.33 |
| Entech Solar ENSL.OB | .1950 | .1851 | -.0099 | .-5.08 | .28 |
| Evergreen Solar ESLR | 1.42 | 1.37 | -.05 | -3.53 | 3.60 |
| First Solar FSLR | 129.55 | 120.37 | -9.18 | -7.09 | 157.80 |
| GT Solar Int. SOLR | 3.89 | 4.22 | +.33 | +15.17 | 4.00 |
| JA Solar JASO | 2.30 | 2.31 | +.01 | +.0043 | 5.09 |
| Kyocera KYO | 64.80 | 67.49 | +2.69 | +4.15 | 71.87 |
| LDK Solar LDK | 4.55 | 4.27 | -.28 | -6.16 | 14.84 |
| MEMC Elect. WFR | 15.43 | 14.88 | -.55 | -3.57 | 15.76 |
| Renesola SOL | 2.26 | 2.35 | +.09 | +3.98 | 5.15 |
| Satcon SATC | 1.21 | 1.25 | +.04 | +3.30 | 1.60 |
| SolarFun SOLF | 2.80 | 3.55 | +.75 | +26.78 | 6.12 |
| SunPower SPWRA | 24.38 | 22.42 | -1.91 | -7.84 | 45.13 |
| SunTech STP | 6.88 | 6.91 | +.03 | +.0044 | 13.55 |
| Trina Solar TSL | 7.39 | 7.49 | +.10 | +.0135 | 10.09 |
| Yingli YGE | 4.18 | 3.77 | -.41 | -9.81 | 7.25 |
| Percent change all 20 stocks this week: | +.1381% |
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