May 26-29: Dow, NASDAQ Rise; Solar Stocks Soar

Yingli, Canadian Solar and Suntech up over 30%

The DJIA packed on 223 points ending at 8500.33, a 2.7% rise. NASDAQ did even better gaining 82+ to 1774.33 points, a 4.8% jump for the week. Eighteen stocks of the 20 Solar Stocks Index (20SSI) rose making the total average stock gain over 13%.

Yingli (YGE), Canadian Solar (CSIQ) and Suntech (STP), were the biggest gainers of the index. Strangely, First Solar, the industry's darling for awhile now was one of two losers dropping just .75%. The other was not unusual: Entech Solar dropped a tidge again but not much should be expected from a company that does not make or install anything at this time.

Yingli's smooth sailing could be attributed to its exclusive supplier agreement with AES Solar announced May 15. AES Solar of Arlington, VA develops, finances, constructs, owns and operates utility-scale PV power plants worldwide. Also, Yingli's Q1 09 gross margin was at 15.3%, up 2.1% over Q4 last year, a triumph in a very tough first quarter for the industry.

CSI is evidently gaining ground with its line of E-Modules which use "solar grade" (actually upgraded metallurgical grade or UMG) silicon which is very slightly less pure than standard grade silicon but accordingly shaves panel prices around 40 cents a DC watt. CSI is also committed to making their E-Modules 14% efficient be year's end which would nearly put them on par with average standard silicon panels.

An AP story today reported "shares of Suntech Power Holdings Co. Ltd. jumped on Friday after the company said it closed its public offering of 23 million American Depositary Shares, each representing one ordinary share of the company, and received $277 million in net proceeds." Suntech, the leading panel maker globally, said the proceeds will go to working capital and general corporate purposes to include repurchases and redemptions of its existing securities.

Solar likely would do even better as potential customers--residential and commercial--want to go solar but for many banks still being stingy with credit. Energy Conversion Devices (ECD) is contracting sales agreements now for its UniSolar PV laminates for projects that may not begin for 12 to 18 months, contingent on (hopefully imminent) bank loans for several committed customers.

Week of May 26-29, 2009 (Revised 6/5/09)

	Monday Open	Friday Close	Up/Down	% Change	Close 1/5/09*	Close 3/6/09**
Dow Jones DJIA	8277.32	8500.33	+223.01	+2.694	8952.89	6626.95
NASDAQ	1692.01	1774.33	+82,32	+4.865	1628.03	1293.85
Akeena Solar AKNS	1.12	1.20	+.08	+7.142	2.28	.61
Amtel Systems ASYS	4.50	4.55	+.05	+1.111	4.00	2.73
Applied Materials AMAT	10.67	11.26	+.59	+5.529	10.67	8.70
Canadian Solar CSIQ	10.01	13.23	+3.22	+32.16	7.00	3.0601
ECD (UniSolar) ENER	15.06	17.21	+2.15	+14.27	29.33	17.45
Entech Solar ENSL.OB	.191	.19	-.001	-.0053	.28	.23
Evergreen Solar ESLR	1.76	1.86	+.10	+5.682	3.60	1.03
First Solar FSLR	191.72	190.29	-1.43	-.7515	157.80	108.49
GT Solar Int. SOLR	6.25	6.42	+.17	+2.720	4.00	4.02
JA Solar JASO	3.70	4.23	+.53	+14.32	5.09	1.91
Kyocera KYO	76.68	78.53	+1.85	+2.412	71.87	54.21
LDK Solar LDK	7.77	9.12	+1.35	+17.37	14.84	4.40
MEMC Elect. WFR	17.06	19.29	+2.23	+13.07	15.76	13.68
Renesola SOL	3.69	4.24	+.55	+14.90	5.15	2.1201
Satcon SATC	2.02	2.37	+.35	+17.33	1.60	1.23
SolarFun SOLF	6.24	7.48	+1.24	+19.87	6.12	2.30
SunPower SPWRA	26.60	29.03	+2.43	+9.135	45.13	23.39
SunTech STP	12.48	16.34	+3.86	+30.93	13.55	5.34
Trina Solar TSL	20.73	24.78	+4.05	+19.54	10.09	7.23
Yingli YGE	9.35	12.82	+3.47	+37.11	7.25	3.888
Cumulative Data:	Previous 427.60	Current 454.44	Change +26.84/+6.27%	Avg Stock +13.19%	20SSI 1/05/09 415.41	20SSI 3/06/09 266.01

* The starting date of the 20 Solar Stock Index (20SSI).
** NOTE: Concensus claims the "new" bull market began on Monday, March 9, 2009.