Three events converge to create crunch
Wall Street saw 2008-like slides the past week on further bad news from Greece. Demonstrations and a continuing shaky financial situation in that country bodes bad for the world's economy as other countries in Europe on nearly-as-shaky ground may see to follow suit into default. The week's slide was further exacerbated by the Gulf oil spill and an apparent glitch/mistake in trading programming in New York.
The Dow dropped 629 points for the week to 10379.60, a 6% tumble. The NASDAQ composite lost nearly 196 points to end Friday at 2265.64, an 8.6% drop. All listed in the 20 Solar Stocks Index dropped and the composite fall was 54 points to 359 even, a 15% decline. Wall Street hopes for a rapid rebound as a feeding frenzy by bargain hunters could lead the way on Monday. Bad news has a way of evening out...
20 Solar Stocks Index Week of May 3-7, 2010
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09* | Close 3/6/09** | |
| Dow Jones DJIA | 11008.61 | 10379.60 | -629.01 | -6.060% | 8952.89 | 6626.95 |
| NASDAQ | 2461.19 | 2265.64 | -195.55 | -8.631 | 1628.03 | 1293.85 |
| Akeena Solar AKNS | 1.09 | .97 | -.12 | -12.37 | 2.28 | .61 |
| Amtel Systems ASYS | 9.57 | 8.60 | -.97 | -11.28 | 4.00 | 2.73 |
| Applied Materials AMAT | 13.78 | 12.50 | -1.28 | -10.24 | 10.67 | 8.70 |
| Canadian Solar CSIQ | 17.26 | 14.11 | -3.15 | -22.32 | 7.00 | 3.0601 |
| ECD (UniSolar) ENER | 7.11 | 5.88 | -1.23 | -20.91 | 29.33 | 17.45 |
| Entech Solar ENSL.OB | .13 | .12 | -.01 | -8.333 | .28 | .23 |
| Evergreen Solar ESLR | 1.12 | 1.00 | -.12 | -12.00 | 3.60 | 1.03 |
| First Solar FSLR | 143.98 | 122.55 | -21.43 | -17.48 | 157.80 | 108.49 |
| GT Solar Int. SOLR | 5.83 | 5.01 | -.82 | -16.36 | 4.00 | 4.02 |
| JA Solar JASO | 6.11 | 5.95 | -.16 | -2.689 | 5.09 | 1.91 |
| Kyocera KYO | 98.25 | 93.67 | -4.58 | -4.889 | 71.87 | 54.21 |
| LDK Solar LDK | 7.78 | 6.18 | -1.60 | -25.88 | 14.84 | 4.40 |
| MEMC Elect. WFR | 12.97 | 11.54 | -1.43 | -12.39 | 15.76 | 13.68 |
| Renesola SOL | 7.81 | 6.61 | -1.22 | -18.15 | 5.15 | 2.1201 |
| Satcon SATC | 2.81 | 2.42 | -.39 | -16.11 | 1.60 | 1.23 |
| SolarFun SOLF | 8.66 | 7.11 | -.1.55 | -21.80 | 6.12 | 2.30 |
| SunPower SPWRA | 16.60 | 14.35 | -2.25 | -15.68 | 45.13 | 23.39 |
| SunTech STP | 13.56 | 10.49 | -3.07 | -29.26 | 13.55 | 5.34 |
| Trina Solar TSL | 25.87 | 19.93 | -5.94 | -29.84 | 10.09 | 7.23 |
| Yingli YGE | 12.63 | 10.01 | -2.62 | -26.17 | 7.25 | 3.888 |
| 20SSI Weekly Cumulative: | Previous 412.92 | Current 359 | Change -53.92/-15.02% | Avg Stock -16.71% | 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 capitalization 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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Solar will be more interesting in the near future. Solar becomes cheaper, the efficiency becomes higher and the oil prices are going up. There comes a time that the Americans do not like to pay the world oil-dollars and keep the money in the US.
ReplyDeleteAnd I think the Americans do not want oil disasters too. Real (enterprise) Americans see the business.. P.S.W. Jansen.