Dow's best 4-week spike since '33...
The Dow Jones Industrial Average just finished its best four-week streak since 1933. The Dow opened Monday, March 9 at 6626.95 then marched on to a stellar climb to 8017.19 at the end of trading today--a gaudy gain of 1390.24 points or 21%. The tech-concentrated NASDAQ grew from 1293.85 to 1621.87 points, 25.35% up. However, the 20SSI have to take the prize having gained 56.10% net combined since March 9.
GT Solar was the biggest gainer in solar gaining $2.50 a share for the week, over a 40% gain. SunTech, SatCon and Canadian Solar also had a good week of trading. It's disturbing mainstream media is either oblivious or doesn't want pick up on solar's thrust in the market. Three stocks, MEMC, Satcon and Trina Solar, exceeded their January 5 starts. For comparison's sake it would be timely to analyze the rise of the stocks in this index against the rapid demise of Chrysler and GM. Oh how the mighty have fallen.
Investors seem to betting on an economic rebound and technology stocks despite grim employment reports. Some 663,000 jobs were lost in March nationwide for a total of 5.1 million since the recession began about 14 months ago. Reported unemployment jumped to 8.5% well exceeded the 8.1% projection.
Incentives for solar power installations and low panel prices plus the onset of spring is bolstering the PV industry. Just like housing, it's a great to time go solar if you have the cash or the credit. Signs of banks opening up are showing and this helps. Furthermore, one thing's for sure, utilities will raise rates if and when they can.
Week of March 30-April 3, 2009
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09 | |
| Dow Jones DJIA | 7776.18 | 8017.59 | +241.41 | +3.10% | 8952.89 |
| NASDAQ | 1545.20 | 1621.87 | +76.77 | +4.96 | 1628.03 |
| Akeena Solar AKNS | 1.11 | 1.19 | +.08 | +7.20 | 2.28 |
| Amtel Systems ASYS | 3.46 | 3.27 | -.19 | -5.50 | 4.00 |
| Applied Materials AMAT | 11.23 | 11.81 | +.58 | +5.16 | 10.67 |
| Canadian Solar CSIQ | 5.76 | 6.73 | +.97 | +16.84 | 7.00 |
| ECD (UniSolar) ENER | 13.23 | 15.77 | +2.54 | +19.191 | 29.33 |
| Entech Solar ENSL.OB | +.32 | .245 | -.075 | -23.44 | .28 |
| Evergreen Solar ESLR | 2.33 | 2.20 | -.13 | -5.58 | 3.60 |
| First Solar FSLR | 147.36 | 134.38 | -12.98 | -8.81 | 157.80 |
| GT Solar Int. SOLR | 4.22 | 6.72 | +2.50 | +40.76 | 4.00 |
| JA Solar JASO | 3.93 | 3.47 | -.46 | -11.71 | 5.09 |
| Kyocera KYO | 68.07 | 68.19 | +.12 | +.17 | 71.87 |
| LDK Solar LDK | 7.19 | 6.99 | -.20 | -2.79 | 14.84 |
| MEMC Elect. WFR | 18.38 | 18.69 | +.31 | +1.68 | 15.76 |
| Renesola SOL | 3.70 | 3.84 | +.14 | +3.78 | 5.15 |
| Satcon SATC | 1.63 | 1.88 | +.25 | +15.33 | 1.60 |
| SolarFun SOLF | 4.67 | 4.318 | -.352 | -7.54 | 6.12 |
| SunPower SPWRA | 25.30 | 24.67 | -.63 | -2.50 | 45.13 |
| SunTech STP | 11.65 | 14.00 | +2.35 | +20.17 | 13.55 |
| Trina Solar TSL | 12.33 | 11.15 | -1.18 | -9.58 | 10.09 |
| Yingli YGE | 6.15 | 6.78 | +.63 | +10.24 | 7.25 |
| Percent change all 20 stocks this week: | +1.85% |
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