Overall bad week finishes strong however
The DJIA dropped 260 points or 3% for the week; the NASDAQ was off 31 points or 1.7%. The solar index dropped 28 points, a 6.5% thumping. However, Friday's trading finished rather strong; the Dow was down just 15 points, the NASDAQ up 20 and 15 of the 20 Solar Stocks Index ended up higher than yesterday.
Still the week was a bear. The Wall Street Journal placed much of the decline on financial stock on concern of White House plans to overhaul financial regulation. Energy stocks took a hit supposedly because oil fell $1.82 to $69.55 a barrel, still leashing alternative energy to the
rise and fall of black gold. When it comes to producing electricity, oil is rarely used because of its cost. Oil obviously plays the major role in transportation energy but not for electricity. So solar (or wind) should be unaffected by the price of crude. Such uninformed, knee-jerk reactions by solar/wind investors (individual and institutional) unnecessarily hurt alternative energy stocks by tying their worth to the fluctuations of Big Oil. It does not compute.
Still, the week was the worst since the new bull market begain March 9, some 15 weeks ago. We hope it was just an aberration.
Week of June 15-19, 2009
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09* | Close 3/6/09** | |
| Dow Jones DJIA | 8799.26 | 8539.73 | -259.53 | -3.039% | 8952.89 | 6626.95 |
| NASDAQ | 1858.80 | 1827.47 | -31.33 | -1.714 | 1628.03 | 1293.85 |
| Akeena Solar AKNS | 1.58 | 1.39 | -.19 | -13.67 | 2.28 | .61 |
| Amtel Systems ASYS | 5.71 | 5.46 | -.25 | -2.276 | 4.00 | 2.73 |
| Applied Materials AMAT | 11.23 | 10.98 | -.25 | -2.276 | 10.67 | 8.70 |
| Canadian Solar CSIQ | 14.62 | 13.05 | -1.57 | -12.03 | 7.00 | 3.0601 |
| ECD (UniSolar) ENER | 17.82 | 15.81 | -2.01 | -14.89 | 29.33 | 17.45 |
| Entech Solar ENSL.OB | .2021 | .1950 | +.0071 | -3.641 | .28 | .23 |
| Evergreen Solar ESLR | 2.62 | 2.31 | -.31 | -13.42 | 3.60 | 1.03 |
| First Solar FSLR | 183.80 | 173.46 | -10.34 | -5.961 | 157.80 | 108.49 |
| GT Solar Int. SOLR | 6.89 | 5.80 | -1.09 | -18.79 | 4.00 | 4.02 |
| JA Solar JASO | 5.67 | 4.98 | -.69 | -13.85 | 5.09 | 1.91 |
| Kyocera KYO | 76.94 | 75.20 | -1.74 | -2.313 | 71.87 | 54.21 |
| LDK Solar LDK | 12.50 | 11.01 | -1.49 | -13.53 | 14.84 | 4.40 |
| MEMC Elect. WFR | 20.16 | 19.14 | -1.02 | -5.329 | 15.76 | 13.68 |
| Renesola SOL | 6.59 | 6.09 | -.50 | -8.210 | 5.15 | 2.1201 |
| Satcon SATC | 1.76 | 1.80 | +.04 | +2.272 | 1.60 | 1.23 |
| SolarFun SOLF | 7.72 | 6.65 | -1.07 | -16.09 | 6.12 | 2.30 |
| SunPower SPWRA | 31.90 | 28.49 | -3.41 | -11.97 | 45.13 | 23.39 |
| SunTech STP | 18.17 | 18.04 | -.13 | -.7206 | 13.55 | 5.34 |
| Trina Solar TSL | 24.86 | 22.95 | -1.91 | -8.322 | 10.09 | 7.23 |
| Yingli YGE | 13.76 | 13.39 | -.37 | -2.763 | 7.25 | 3.888 |
| 20SSI Weekly Cumulative: | Previous 464.50 | Current 436.20 | Change -28.3/-6.48% | Avg Stock -8.642% | 1/05/09* 415.41 | 3/06/09** 266.01 |
** NOTE: Concensus "new" bull market began on Monday, March 9, 2009.
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