Friday, June 5, 2009

June 1-5: Dow Up 3%; NASDAQ, Solar Gain, Too

Market continues bullish

Last Friday ended the 13th week of the new bull market which began March 9 and virtually all indexes are still running strong. The Dow gained nearly 263 points, over 3% above last week's close. The NASDAQ was up 75 points, just over 4%. The 20 Solar Stock Index (20SSI) had mixed trading, gaining nearly five points or 1.01%. Still, average percentage rise for solar stocks was 5.13%.

First Solar (FSLR), an industry superstar the passed three years, dropped for a second straight week ending at 182.10. The thin-film PV manufacturer is rumored to have lost some of its project backlogs to standard silicon panels. Also, certain stock analysts believe First Solar is overvalued.

Renesola (SOL) shot up 46% this week to 6.21. Word's getting around about the silicon wafer maker getting into module manufacturing. After acquiring a small Chinese cell and panel maker, SOL targets 1GW capacity in three years selling at $1/watt or less. Right now, typical wholesale panel prices are $2.50-$3.10/watt.

Canadian Solar (CSIQ) stepped packed on 2.47 a share to 15.70, close 17% up for the week. In fact, besides Renesola and Canadian Solar, all other Chinese solar stocks were up: JA Solar (JASO), LDK Solar (LDK), Solarfun (SOLF), Suntech (STP), Trina Solar (TSL), and Yingli (YGE).

Modified Format: Composite index price of the 20SSI was added for the previous and current weeks. Also added were composite prices for the opening week of this index (1/05/09) and the concensus beginning of the current bull market starting week of 3/09/09. MarketBrowser, the free stock-watching software, is used to follow the stocks in this index. This wonderful tool is available at

Week of June1-5, 2009

Monday OpenFriday CloseUp/Down% ChangeClose 1/5/09*Close 3/6/09**
Dow Jones DJIA8500.338763.13+262.80+3.0928952.896626.95

Akeena Solar AKNS1.201.24+.04+3.3332.28.61
Amtel Systems ASYS4.555.07+.52+11.434.002.73
Applied Materials AMAT11.2610.98-.28-2.55010.678.70
Canadian Solar CSIQ13.2315.70+2.47+18.677.003.0601
ECD (UniSolar) ENER17.2117.16-.05-.291329.3317.45
Entech Solar ENSL.OB.19.19NCNC.28.23
Evergreen Solar ESLR1.861.90+..04+2.1503.601.03
First Solar FSLR190.29182.10-8.19-4.497157.80108.49
GT Solar Int. SOLR6.426.30-.12-1.9044.004.02
JA Solar JASO4.235.13+.90+
Kyocera KYO78.5376.89-1.64-2.13271.8754.21
LDK Solar LDK9.129.31+.19+2.08314.844.40
MEMC Elect. WFR19.2919.79+.50+2.59215.7613.68
Renesola SOL4.246.21+1.97+46.465.152.1201
Satcon SATC2.372.25-.12-5.3331.601.23
SolarFun SOLF7.488.14+.66+8.8236.122.30
SunPower SPWRA29.0331.57+2.54+8.74945.1323.39
SunTech STP16.3417.11+.77+4.71213.555.34
Trina Solar TSL24.7827.35+2.57+10.3710.097.23
Yingli YGE12.8214.91+2.09+16.307.253.888
20SSI Weekly Cumulative:Previous 454.44Current 459.30Change +4.86/+1.1%Avg Stock +5.133%1/05/09* 415.413/06/09** 266.01
* The starting date of the 20 Solar Stock Index (20SSI).
** NOTE: Concensus "new" bull market began on Monday, March 9, 2009.


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