Banking sector giving investors heebee-jeebies
The six-week climb for the Dow ended today when the index fell 55 points from last week. However, NASDAQ kept its streak going with a 21.22 net increase for the week. The select 20 Solar Stock Index fell for the second straight week down about 2%.
The mixed performance is attributed to the shakiness of the American banking system. Just today four banks were shuttered by federal and state regulators in Georgia, Michigan, California and Idaho as the credit crisis crunches the economy.
Only six of the 20SSI finished ahead for the week: Amtel Systems, ECD (UniSolar), First Solar, Kyocera, Satcon and Trina Solar. Still, solar stocks are up over 50% since the mini-bull market began March 9. The PV industry will take hits but the future looks brighter for it and wind energy as more state and federal renewable energy standards take effect or get more stringent. For the first time ever, there is plenty of PV panels and related equipment onhand and this means good news for homeowners and commercial interests by driving down cost. Of course, a better credit atmosphere would help.
Week of April 20-24, 2009
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09 | |
| Dow Jones DJIA | 8131.33 | 8076.29 | -55.04 | -.0068% | 8952.89 |
| NASDAQ | 1673.07 | 1694.29 | +21.22 | +1.268 | 1628.03 |
| Akeena Solar AKNS | 1.24 | 1.12 | -.12 | -10.714 | 2.28 |
| Amtel Systems ASYS | 3.2901 | 3.67 | +.3799 | +11.54 | 4.00 |
| Applied Materials AMAT | 11.45 | 11.70 | -.22 | -.856 | 10.67 |
| Canadian Solar CSIQ | 6.88 | 6.46 | -.42 | -6.114 | 7.00 |
| ECD (UniSolar) ENER | 15.82 | 16.66 | +.84 | +5.309 | 29.33 |
| Entech Solar ENSL.OB | .26 | .2598 | -.0002 | .0007 | .28 |
| Evergreen Solar ESLR | 2.21 | 2.16 | -.05 | -2.314 | 3.60 |
| First Solar FSLR | 143.80 | 147.46 | +3.66 | +2.545 | 157.80 |
| GT Solar Int. SOLR | 6.97 | 6.58 | -.39 | -5.927 | 4.00 |
| JA Solar JASO | 3.41 | 3.20 | -.21 | -6.562 | 5.09 |
| Kyocera KYO | 69.55 | 75.68 | +6.13 | +8.813 | 71.87 |
| LDK Solar LDK | 8.39 | 7.37 | -1.02 | -13.839 | 14.84 |
| MEMC Elect. WFR | 15.59 | 15.44 | -.15 | -.0097 | 15.76 |
| Renesola SOL | 3.32 | 3.08 | -.24 | -7.792 | 5.15 |
| Satcon SATC | 1.79 | 1.96 | +.19 | +9.497 | 1.60 |
| SolarFun SOLF | 4.46 | 4.07 | -.39 | -9.582 | 6.12 |
| SunPower SPWRA | 26.45 | 25.41 | -1.04 | -4.092 | 45.13 |
| SunTech STP | 14.75 | 13.16 | -1.59 | -12.082 | 13.55 |
| Trina Solar TSL | 12.38 | 13.20 | +.82 | +6.623 | 10.09 |
| Yingli YGE | 7.01 | 6.46 | -.55 | -8.513 | 7.25 |
| Percent change all 20 stocks this week: | -2.123% |
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