Dow also down fourth straight week...
The 20 Solar Stocks Index (20SSI) dropped 41 points this week, an 11% loss. The index has lost 90 points since June 5--a 24% loss in just four weeks. The trend follows the Dow and NASDAQ, their losses have not been as precipitous.
The energy and climate change bill now before the Senate is proving to be more of a windfall for oil and coal. Also, just this week nuclear got a potential boost with a White House compromise with the Senate that could allow building 100 more nuke plants by 2030. By caving in to such archaic energy technologies, the bill, should pass into law, should be renamed the Old Energy Resources and Global Heating Act of 2009. It's that pitiful. Who needs solar or wind when campaign contributions from Big Oil and King Coal need to be repaid? The nuclear thing came straight out of left field. (See: "The Energy Bill: Do It Right or Dump It" http://freesolaradvice.blogspot.com/2009/07/energy-bill-get-it-right-or-dump-it.html)
Crude oil also dropped below $60 a barrel which also--erroneously--hurts renewable energy stocks. When Black Gold is cheap, solar and wind get ignored.
Losses by solar companies played no favorites. Penny stocks like Akeena and Satcon dropped 10% and 6% respectively. Big boys SunPower and SunTech took hits of 17% and 29%. If it's any consolation, the 20SSI is still well above its March 6 close. But June losses ate up about half the gains made since March 9...
Week of July 6-10, 2009
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09* | Close 3/6/09** | |
| Dow Jones DJIA | 8289.81 | 8146.52 | -143.29 | -1.758% | 8952.89 | 6626.95 |
| NASDAQ | 1796.52 | 1756.03 | -40.49 | -2.306 | 1628.03 | 1293.85 |
| Akeena Solar AKNS | 1.25 | 1.14 | -.11 | -9.649 | 2.28 | .61 |
| Amtel Systems ASYS | 4.77 | 4.73 | -.04 | -.8456 | 4.00 | 2.73 |
| Applied Materials AMAT | 11.13 | 11.00 | -.13 | -1.181 | 10.67 | 8.70 |
| Canadian Solar CSIQ | 12.02 | 9.82 | -2.20 | -22.40 | 7.00 | 3.0601 |
| ECD (UniSolar) ENER | 15.06 | 12.14 | -2.92 | -24.05 | 29.33 | 17.45 |
| Entech Solar ENSL.OB | .1651 | .1680 | +.0029 | +1.756 | .28 | .23 |
| Evergreen Solar ESLR | 2.39 | 1.99 | -.40 | -20.10 | 3.60 | 1.03 |
| First Solar FSLR | 154.20 | 143.10 | -11.10 | -7.756 | 157.80 | 108.49 |
| GT Solar Int. SOLR | 5.41 | 4,77 | -.64 | -13.41 | 4.00 | 4.02 |
| JA Solar JASO | 4.37 | 3.78 | -.59 | -15.61 | 5.09 | 1.91 |
| Kyocera KYO | 73.61 | 72.63 | -.78 | -1.071 | 71.87 | 54.21 |
| LDK Solar LDK | 10.87 | 8.53 | -2.34 | -27.43 | 14.84 | 4.40 |
| MEMC Elect. WFR | 17.55 | 16.61 | -.94 | -5.659 | 15.76 | 13.68 |
| Renesola SOL | 5.53 | 4.64 | -.89 | -19.18 | 5.15 | 2.1201 |
| Satcon SATC | 1.80 | 1.70 | -.10 | -5.882 | 1.60 | 1.23 |
| SolarFun SOLF | 6.24 | 5.25 | -.99 | -18.85 | 6.12 | 2.30 |
| SunPower SPWRA | 26.23 | 22.35 | -.58 | -2.211 | 45.13 | 23.39 |
| SunTech STP | 18.45 | 14.35 | -4.10 | -28.57 | 13.55 | 5.34 |
| Trina Solar TSL | 26.35 | 21.27 | -5.08 | -23.88 | 10.09 | 7.23 |
| Yingli YGE | 13.61 | 10.241 | -3.37 | -32.91 | 7.25 | 3.888 |
| 20SSI Weekly Cumulative: | Previous 411.05 | Current 370.4 | Change -40.65/-11% | Avg Stock -14.70% | 1/05/09* 415.41 | 3/06/09** 266.01 |
** NOTE: Concensus "new" bull market began on Monday, March 9, 2009.
Posts
No comments:
Post a Comment