Solar holding its own...
MarketWatch reported today says a surge in GE stocks helped the DJIA go above 10,000 again after a two-week losing period. Week's end closing showed the Dow up 3.2% and NASDAQ up 3.3% while solar stocks in the 20SSI gained about 1.9% since last Friday.
As expected, declines for the Dow were lead by financials and conventional energy firms, which were effected by a $2 per barrel drop in oil. MarketPlace said about half of the Dow's gain could be attributed to a 6.2% spike in GE after analysts at Sanford C. Bernstein and Oppenheimer upgraded the conglomerate to a "outperform" rating.
Market players on Wall Street are disgruntled with unemployment figures but all-out panic has been tempered simply by 22 consecutive months of job losses. Bulls are pointing to month-to-month slowing of job cuts as a sign a full-blown turnaround is on its way, mayber as early as next quarter.
Meanwhile, both residential and commercial solar activity seems to be percolating nicely in California. The Ca Center for Sustainable Energy, which administers the CA Solar Initiative rebate for SDG&E customers, received 200 rebate reservations for residential installations in September after a flat August but a 350 reservation request month in July. Of course, high air-conditioning usage during these months resulting in fat electric bills can account for the solar backlash. But the surprising number of rebate reservations comes even as the rebate has triggered down to $1.55 per installed AC watt in July and now stands at $1.10 in the SDG&E service area.
20 Solar Stocks Index Week of Nov 2-6, 2009
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09* | Close 3/6/09** | |
| Dow Jones DJIA | 9712.73 | 10023.42 | +310.69 | +3.198% | 8952.89 | 6626.95 |
| NASDAQ | 2045.11 | 2112.44 | +67.33 | +3.292 | 1628.03 | 1293.85 |
| Akeena Solar AKNS | .94 | .93 | -.01 | -1.075 | 2.28 | .61 |
| Amtel Systems ASYS | 5.40 | 5.10 | -.30 | -5.882 | 4.00 | 2.73 |
| Applied Materials AMAT | 12.20 | 12.40 | +.20 | +1.639 | 10.67 | 8.70 |
| Canadian Solar CSIQ | 14.58 | 16.78 | +2.20 | +15.09 | 7.00 | 3.0601 |
| ECD (UniSolar) ENER | 10.77 | 11.49 | +.72 | +6.685 | 29.33 | 17.45 |
| Entech Solar ENSL.OB | .1450 | .1400 | -.0050 | -3.571 | .28 | .23 |
| Evergreen Solar ESLR | 1.45 | 1.42 | -.03 | -1.398 | 3.60 | 1.03 |
| First Solar FSLR | 121.93 | 117.93 | -4.00 | -3.391 | 157.80 | 108.49 |
| GT Solar Int. SOLR | 5.25 | 5.24 | -.01 | -.1908 | 4.00 | 4.02 |
| JA Solar JASO | 3.83 | 3.71 | -.12 | -3.234 | 5.09 | 1.91 |
| Kyocera KYO | 83.47 | 83.95 | -.48 | -.5750 | 71.87 | 54.21 |
| LDK Solar LDK | 6.78 | 5.74 | -1.04 | -18.12 | 14.84 | 4.40 |
| MEMC Elect. WFR | 12.41 | 12.66 | +.25 | +2.014 | 15.76 | 13.68 |
| Renesola SOL | 3.68 | 3.95 | +.27 | -7.336 | 5.15 | 2.1201 |
| Satcon SATC | 2.04 | 2.00 | -.04 | -2.000 | 1.60 | 1.23 |
| SolarFun SOLF | 4.75 | 5.12 | +.37 | +7.789 | 6.12 | 2.30 |
| SunPower SPWRA | 24.81 | 26.60 | +1.79 | +7.214 | 45.13 | 23.39 |
| SunTech STP | 12.67 | 12.70 | +.03 | +.2367 | 13.55 | 5.34 |
| Trina Solar TSL | 32.52 | 38.18 | +5.66 | +17.40 | 10.09 | 7.23 |
| Yingli YGE | 11.58 | 12.14 | +.56 | +4.835 | 7.25 | 3.888 |
| 20SSI Weekly Cumulative: | Previous 371.21 | Current 378.18 | Change +6.97/+1.87% | Avg Stock +.8% | 1/05/09* 415.41 | 3/06/09** 266.01 |
** The Concensus "new" bull market began on Monday, March 9, 2009.
NOTE: All above stocks have market capitization of $100M+ except Akeena Solar, Amtel Systems
and Entech Solar. This listing is strictly informational and implies neither endorsement or disapproval
of any stock listed. Comments and suggestions are always welcome.
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