Rare four-day upswing...
For the fourth consecutive day, the Dow Jones Industrial Average gained and the NASDAQ followed suit. At day's end, the Dow finished at 7223.98, an even 9% up from Monday's 6626.95 open; the NASDAQ gained 137.65 points, 10.63% up for the week.
This embryonic surge that began on Tuesday with a 389-point gain is welcome, to say the least, but does it mean that Monday, March 9 marked the pivotal end to one of the worst bear markets in American history is anyone's guess. As for solar stocks however, I give a qualified "Yes."
All but three of the key 20 Solar Stocks Index (20SSI) finished not only higher this week but a glossy 12.57% average gain. Big winners were Evergreen Solar, Amtel Systems, SunTech, Canadian Solar and Applied Materials. Losers showed modest drops except for Entech Solar which appears to be staying afloat only by laying off personnel.
Granted, if this is a real turnaround it's much too early to tell. However, with recent DOE reports that available coal supplies are much less than forecast and CO2 levels accelerating faster than ever, the road to solar and wind is the de facto route for clean, renewable energy production. Solar stock investments could be the new GM, Standard Oil and Microsoft stocks of the 21st century.
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The Jon Stewart-Jim Cramer face-off on Thursday's The Daily Show is worth the watch. Stewart openly criticized Cramer's apparent disingenuousness as a financial commentator on CNBC leading up to the Wall Street collapse. The crux of the discussion according to Stewart is whether Cramer should act as an advocate for any particular Wall Street stocks or for the average laymen watching his "Mad Money" program. The upshot of Cramer's guest appearance is that he committed to Stewart to doing a better job of reporting financial news as it is rather than how he perceives it could or should be. Here's the link: http://www.thedailyshow.com/video/index.jhtml?videoId=220536&title=jim-cramer-pt.-1
Week of March 9-13, 2009
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09 | |
| Dow Jones DJIA | 6626.95 | 7223.98 | +597.03 | +9.00% | 8952.89 |
| NASDAQ | 1293.85 | 1431.50 | +137.65 | +10.63 | 1628.03 |
| Akeena Solar AKNS | .61 | .6702 | +.0602 | +9.86 | 2.28 |
| Amtel Systems ASYS | 2.63 | 3.30 | +.67 | +25.47 | 4.00 |
| Applied Materials AMAT | 8.70 | 10.49 | +1.79 | +20.57 | 10.67 |
| Canadian Solar CSIQ | 3.0601 | 3.72 | +.6599 | +21.56 | 7.00 |
| ECD (UniSolar) ENER | 17.45 | 19.12 | +1.67 | +9.57 | 29.33 |
| Entech Solar ENSL.OB | .23 | .1950 | -.0350 | .-15.22 | .28 |
| Evergreen Solar ESLR | 1.03 | 1.42 | +.39 | +37.86 | 3.60 |
| First Solar FSLR | 108.49 | 129.55 | +21.06 | +19.41 | 157.80 |
| GT Solar Int. SOLR | 4.02 | 3.89 | -.13 | -3.24 | 4.00 |
| JA Solar JASO | 1.91 | 2.30 | +.39 | +20.41 | 5.09 |
| Kyocera KYO | 54.21 | 64.80 | +10.59 | +19.53 | 71.87 |
| LDK Solar LDK | 4.40 | 4.55 | +.15 | +3.40 | 14.84 |
| MEMC Elect. WFR | 13.68 | 15.43 | +1.75 | +12.79 | 15.76 |
| Renesola SOL | 2.1201 | 2.26 | +.1399 | +6.60 | 5.15 |
| Satcon SATC | 1.23 | 1.21 | -.02 | -1.63 | 1.60 |
| SolarFun SOLF | 2.30 | 2.80 | +.50 | +21.74 | 6.12 |
| SunPower SPWRA | 23.39 | 24.38 | +.99 | +4.23 | 45.13 |
| SunTech STP | 5.34 | 6.88 | +1.54 | +28.83 | 13.55 |
| Trina Solar TSL | 7.23 | 7.39 | +.16 | +2.21 | 10.09 |
| Yingli YGE | 3.88 | 4.18 | +.29 | +7.45 | 7.25 |
| Percent change all 20 stocks this week: | +12.57% |
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