July 27-31: Dow, NASDAQ Creep Up; Solar Drops 5.8%

Dow's best month since Oct. '02

The Dow Jones Industrial Average recorded its best month in nearly seven years, posting an 882-point boost since Friday, July 3. In fact it was the best July for Wall Street in twenty years. Gains for the week for the Dow and NASDAQ were meager however, with both gaining less than a percent. The 20SSI decreased 5.8% from last week's close but the net gain since July 3 was nearly 22 points.

Company earnings and earnings outlooks continue to lead the surge on the major indexes. The big gainer for solar this week was Entech Solar which announced "successful completion of the preliminary design review and prototype of the next-generation concentrating solar product, ThermaVolt II." The company is also completed preliminary design for a tubular skylight. To be frank, many solar investors may have decided to take short-term profits on the terrific gains made in the industry earlier on the month.

Being active in the solar business, this blogger sees renewed interest in PV systems as the summer gets hotter in California and can last into November. Power rates are high and demand shoots up with the gross necessity of air conditioning--especially in the inland deserts which are getting more inhabitants resulting from cheaper land. Places like Palm Springs, Palm Desert, Indian Wells and Indio are beginning to see some serious traffic. There is a thriving town called Ridgecrest farther north with its own solar-powered junior college. Ridgecrest is 17 miles from Death Valley, the hottest spot in the contiguous 48 states. Inland desert temperatures range from 98-123 degrees in the hot months and the AC required to stay comfortable can result in electricity bills that look more like mortgage payments. ROI for solar installations here is quick and painless.

(Picture: A parabolic trough array in the California desert near Victorville.)

Week of July 27-31, 2009

	Monday Open	Friday Close	Up/Down	% Change	Close 1/5/09*	Close 3/6/09**
Dow Jones DJIA	9093.24	9171.62	+78.38	+.8619%	8952.89	6626.95
NASDAQ	1965.96	1978.5	+12.54	+.6378	1628.03	1293.85
Akeena Solar AKNS	1.41	1.3101	-.0999	-.0763	2.28	.61
Amtel Systems ASYS	5.56	5.74	+.18	+3.237	4.00	2.73
Applied Materials AMAT	13.19	13.80	+.61	+4.625	10.67	8.70
Canadian Solar CSIQ	15.57	14.54	-1.03	-7.084	7.00	3.0601
ECD (UniSolar) ENER	15.22	14.24	-1.03	-7.084	29.33	17.45
Entech Solar ENSL.OB	.1900	.2300	+.0400	+21.05	.28	.23
Evergreen Solar ESLR	2.34	2.10	-.24	-11.43	3.60	1.03
First Solar FSLR	169.43	154.39	-15.04	-9.741	157.80	108.49
GT Solar Int. SOLR	6.16	6.20	+.04	+.6493	4.00	4.02
JA Solar JASO	5.32	4.81	-.51	+10.60	5.09	1.91
Kyocera KYO	78.83	80.17	+1.34	+1.699	71.87	54.21
LDK Solar LDK	11.81	10.94	-.87	-7.952	14.84	4.40
MEMC Elect. WFR	18.74	17.62	-1.12	-6.356	15.76	13.68
Renesola SOL	6.20	5.45	-.75	-1.376	5.15	2.1201
Satcon SATC	1.80	1.89	+.09	+.5586	1.60	1.23
SolarFun SOLF	7.50	7.20	-.30	-4.166	6.12	2.30
SunPower SPWRA	32.04	32.20	+.16	+.4993	45.13	23.39
SunTech STP	20.49	18.39	-2.10	-11.42	13.55	5.34
Trina Solar TSL	31.10	28.26	-2.84	-10.05	10.09	7.23
Yingli YGE	15.10	13.27	-1.83	-13.79	7.25	3.888
20SSI Weekly Cumulative:	Previous 458	Current 432.75	Change -25.25/-5.8%	Avg Stock -3.208%	1/05/09* 415.41	3/06/09** 266.01

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

Dow, NASDAQ Up; Solar Down a Sliver

Six week streak longest since May 2007

For the sixth consecutive week the Dow Jones Industrial Average and the NASDAQ have gone up, the longest streak in nearly two years. The 20 solar stocks in this index (20SSI) were a mixed bag; the average down less than a percentage point.

The biggest gainer was Entech Solar but that could be the fluke of the week. MEMC, a silicon wafer maker, took the biggest slide on news the company's first quarter earnings were about 5% under projections. Overall, eleven stocks were down this week putting the 20-stock averge at -.0641%.

Since Monday, March 9, the day the current bull market began, through end of trading yesterday, April 17, the Dow has risen 22% and NASDAQ 24.3%. Despite this week's weak performance the 20SSI has risen 58.6% in the past six weeks. So far as this blogger knows, no one else is reporting how the solar industry is bouncing back big in the early recovery stage.

Week of April 13-17

	Monday Open	Friday Close	Up/Down	% Change	Close 1/5/09
Dow Jones DJIA	8083.38	8131.33	+47.95	+5.931%	8952.89
NASDAQ	1652.54	1673.07	+20.53	+1.242	1628.03
Akeena Solar AKNS	1.24	1.24	NC	NC	2.28
Amtel Systems ASYS	3.2901		-.0201	-.6146	4.00
Applied Materials AMAT	11.81	11.45	+.47	+4.104	10.67
Canadian Solar CSIQ	6.88	6.46	-.42	-6.114	7.00
ECD (UniSolar) ENER	15.02	15.82	_.80	+5.326	29.33
Entech Solar ENSL.OB	.2050	.26	+.055	+26.829	.28
Evergreen Solar ESLR	2.24	2.21	-.03	-3.300	3.60
First Solar FSLR	142.05	143.80	+1.75	+1.231	157.80
GT Solar Int. SOLR	6.72	6.97	-.23	-3.300	4.00
JA Solar JASO	3.43	3.41	-.02	-.586	5.09
Kyocera KYO	68.88	69.55	+.67	+.972	71.87
LDK Solar LDK	8.08	8.39	+.31	+13.836	14.84
MEMC Elect. WFR	18.95	15.59	-3.36	-17.741	15.76
Renesola SOL	3.82	3.32	-.50	-13.090	5.15
Satcon SATC	1.92	1.79	-.13	-7.262	1.60
SolarFun SOLF	4.56	4.46	-.10	-2.203	6.12
SunPower SPWRA	26.04	26.45	+.41	+1.574	45.13
SunTech STP	14.40	14.75	+.35	+2.430	13.55
Trina Solar TSL	12.79	12.38	-.41	-3.216	10.09
Yingli YGE	7.31	7.01	-.30	-4.279	7.25
Percent change all 20 stocks this week:				-.0641%

Solar Stocks Average Up Over 41% for Week

Three stocks up over 70%

If the key 20 Solar Stocks Index (20SSI) were a Broadway show premiering March 9, the reviews would be boffo. The last minute surge on the date marks the beginning of a young bull market that's seen the Dow up 5.53% and the NASDAQ up 6.15%. Not to be outdone is the 20SSI rising a stupendous 54.25% from the opening bell March 9 through end of trading today.

This week was the biggie with DJIA up 6.83%; NASDAQ +6.03% and this index rocketing 41.54%. Three gainers were up 70% or more: Entech Solar, Evergreen Solar and JA Solar with four more in the 60-70% range. As mentioned in yesterday's post the reasons range from guaranteed loans for solar manufacturers; fat contracts for utility-scale projects getting underway; and the SEIA's report that 2008 was the third straight record-breaking year for growth in the PV industry.

There's another reason, too, that should not be overlooked. Despite the weather in parts of the country, it is springtime, a time when people get serious about installing solar to ease their power bills this summer thanks to that modern-day wonder called air conditioning. A good 40% of a typical summer electricity bill--commercial or residential--is just for keeping cool. For those smart--and lucky--enough, that abundance of summertime sun can be converted to the coolness of an oasis with solar technology. Better yet for our country it creates badly needed jobs while it reduces emissions. Bearing those factors in mind, solar stocks seem a pretty safe bet.

Week of March 23-27, 2009

	Monday Open	Friday Close	Up/Down	% Change	Close 1/5/09
Dow Jones DJIA	7278.38	7776.18	+497.80	+6.830%	8952.89
NASDAQ	1457.27	1545.20	+87.93	+6.030	1628.03
Akeena Solar AKNS	.75	1.11	+.36	+48.00	2.28
Amtel Systems ASYS	3.06	3.46	+.40	+48.00	4.00
Applied Materials AMAT	10.21	11.23	+1.02	+9.990	10.67
Canadian Solar CSIQ	4.50	5.76	+1.26	+28.00	7.00
ECD (UniSolar) ENER	13.23	15.77	+2.54	+19.191	29.33
Entech Solar ENSL.OB	.1851	+.32	+.1349	+72.87	.28
Evergreen Solar ESLR	1.37	2.33	+.96	+70.00	3.60
First Solar FSLR	120.37	147.36	+27.99	+22.42	157.80
GT Solar Int. SOLR	3.89	4.22	+.33	+15.17	4.00
JA Solar JASO	2.31	3.93	+1.62	+70.12	5.09
Kyocera KYO	67.49	68.07	+.58	+.0085	71.87
LDK Solar LDK	4.27	7.19	+2.92	+68.38	14.84
MEMC Elect. WFR	14.88	18.38	+3.50	+23.52	15.76
Renesola SOL	2.35	3.70	+1.35	+57.84	5.15
Satcon SATC	1.25	1.63	+.37	+30.04	1.60
SolarFun SOLF	3.55	4.67	+1.12	+31.55	6.12
SunPower SPWRA	22.42	25.30	+2.83	+12.59	45.13
SunTech STP	6.91	11.65	+4.74	+68.59	13.55
Trina Solar TSL	7.49	12.33	+4.84	+64.62	10.09
Yingli YGE	3.77	6.15	+2.38	+63.12	7.25
Percent change all 20 stocks this week:				+41.54%

March 9-13: Solar Stocks Top Dow, NASDAQ

Rare four-day upswing...

For the fourth consecutive day, the Dow Jones Industrial Average gained and the NASDAQ followed suit. At day's end, the Dow finished at 7223.98, an even 9% up from Monday's 6626.95 open; the NASDAQ gained 137.65 points, 10.63% up for the week.

This embryonic surge that began on Tuesday with a 389-point gain is welcome, to say the least, but does it mean that Monday, March 9 marked the pivotal end to one of the worst bear markets in American history is anyone's guess. As for solar stocks however, I give a qualified "Yes."

All but three of the key 20 Solar Stocks Index (20SSI) finished not only higher this week but a glossy 12.57% average gain. Big winners were Evergreen Solar, Amtel Systems, SunTech, Canadian Solar and Applied Materials. Losers showed modest drops except for Entech Solar which appears to be staying afloat only by laying off personnel.

Granted, if this is a real turnaround it's much too early to tell. However, with recent DOE reports that available coal supplies are much less than forecast and CO2 levels accelerating faster than ever, the road to solar and wind is the de facto route for clean, renewable energy production. Solar stock investments could be the new GM, Standard Oil and Microsoft stocks of the 21st century.

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The Jon Stewart-Jim Cramer face-off on Thursday's The Daily Show is worth the watch. Stewart openly criticized Cramer's apparent disingenuousness as a financial commentator on CNBC leading up to the Wall Street collapse. The crux of the discussion according to Stewart is whether Cramer should act as an advocate for any particular Wall Street stocks or for the average laymen watching his "Mad Money" program. The upshot of Cramer's guest appearance is that he committed to Stewart to doing a better job of reporting financial news as it is rather than how he perceives it could or should be. Here's the link: http://www.thedailyshow.com/video/index.jhtml?videoId=220536&title=jim-cramer-pt.-1

Week of March 9-13, 2009

	Monday Open	Friday Close	Up/Down	% Change	Close 1/5/09
Dow Jones DJIA	6626.95	7223.98	+597.03	+9.00%	8952.89
NASDAQ	1293.85	1431.50	+137.65	+10.63	1628.03
Akeena Solar AKNS	.61	.6702	+.0602	+9.86	2.28
Amtel Systems ASYS	2.63	3.30	+.67	+25.47	4.00
Applied Materials AMAT	8.70	10.49	+1.79	+20.57	10.67
Canadian Solar CSIQ	3.0601	3.72	+.6599	+21.56	7.00
ECD (UniSolar) ENER	17.45	19.12	+1.67	+9.57	29.33
Entech Solar ENSL.OB	.23	.1950	-.0350	.-15.22	.28
Evergreen Solar ESLR	1.03	1.42	+.39	+37.86	3.60
First Solar FSLR	108.49	129.55	+21.06	+19.41	157.80
GT Solar Int. SOLR	4.02	3.89	-.13	-3.24	4.00
JA Solar JASO	1.91	2.30	+.39	+20.41	5.09
Kyocera KYO	54.21	64.80	+10.59	+19.53	71.87
LDK Solar LDK	4.40	4.55	+.15	+3.40	14.84
MEMC Elect. WFR	13.68	15.43	+1.75	+12.79	15.76
Renesola SOL	2.1201	2.26	+.1399	+6.60	5.15
Satcon SATC	1.23	1.21	-.02	-1.63	1.60
SolarFun SOLF	2.30	2.80	+.50	+21.74	6.12
SunPower SPWRA	23.39	24.38	+.99	+4.23	45.13
SunTech STP	5.34	6.88	+1.54	+28.83	13.55
Trina Solar TSL	7.23	7.39	+.16	+2.21	10.09
Yingli YGE	3.88	4.18	+.29	+7.45	7.25
Percent change all 20 stocks this week:				+12.57%

Bulletin: Solar Stock Index Up 12.35% Today

After another mournful Monday on the Dow and NASDAQ both were up at day's end Tuesday. The DJIA gained 236.16 or 3.32%; the NASDAQ was up 54.11 or 3.9%. All but one company, Entech Solar, in this blog's 20 select solar stocks index was down if only by a cent. Overall increase was 12.35%.

Top gainers were Evergreen Solar (ESLR) at 21.01% up; Renesola (SOL), 18.86 up; and SolarFun at 15.4% up. In a conversation with a major panel manufacturer this morning, some large orders are coming in for spring delivery. After the bloodbath of the past two weeks, maybe traders simply saw pricing as too good to pass up.

Overall, tech stocks did well after the pounding sell-off yesterday. Banking stocks also rallied--if only for the day--on comments made by Federal Reserve Chairman Bernanke.

"I don't see any reason to destroy the franchise value or to create the huge legal uncertainties of trying to formally nationalize a bank when that just isn't necessary," Bernanke stated before the Senate Banking Committee.

Two major banks most eyed for possible nationalization were both up. Bank of America climbed 82 cents a share to $4.73, 21% up. Citigroup closed 46 cents up to $2.60, 22% up.

More good news came from Home Depot which had higher-than-expected fourth-quarter earnings which likely raised investor's hopes on consumer spending. Home Depot went up $1.96 a share today, a 10% boost.

Solar Stock Report: Jan. 12-16, 2009

Another shaky Wednesday...

The Dow Jones Industrial Average is off to its worst January start ever. Wednesday's drop of 248.42 points was even worse than the previous Wednesday drop of 245.4. This week's drops for both DJIA (-181.6, -2.25%) and NASDAQ (-12.2, -.08%) could have been worse if not for a rally today when both indexes were up slightly from the end of trading yesterday.

Of all 20 solar stocks in this list only Applied Materials, GT Solar and WorldWater/Entech finished up from this week's beginning. On Monday, WorldWater officially changed its name to Entech Solar and is moving its headquarters from Ewing, New Jersey to Ft. Worth, Texas to manufacture concentrated photovoltaic modules. CPV appears to be the next generation of lower-cost modules for utility-scale projects.

It was decided to stay with this list of stocks as 19 are available on at NYSE or NASDAQ and one (WW/Entech) on the over-the-counter board.

It will be interesting to see how the stock market, solar stocks in particular, will be affected by America's new political direction starting Tuesday. Stay tuned for the next four years!


Week of: Jan 12-16, 2009

Symbol/Name Monday Friday +/- % Change

DJIA/Dow Jones 8474.05 8292.45 -181.6 -2.15

NASDAQ 1538.79 1526.59 -12.2 -.08

Akeena Solar AKNS 2.20 2.17 -.03 -1.37

Amtel Systems ASYS 4.35 4.19 -.16 -3.68

Applied Mat. AMAT 10.00 10.13 +.13 +.013

Canadian Solar CSIQ 5.92 5.27 -.65 -10.98

ECD (UniSolar) ENER 26.43 26.00 -.43 -1.63

Evergreen Solr ESLR 3.01 2.85 -.16 -5.32

First Solar FSLR 149.93 145.5 -4.43 -2.96

GT Solar Int. SOLR 3.60 4.44 +.88 +23.3

JA Solar JASO 4.11 3.07 -1.04 -25.31

Kyocera KYO 72.63 69.19 -4.44 -4.74

Symbol/Name Monday Friday +/- % Change

LDK Solar LDK 14.24 13.92 -.32 -2.25

MEMC Elect. WFR 15.92 14.76 -.32 -7.29

Renesola SOL 4.14 3.82 -.32 -7.73

Satcon SATC 1.61 1.51 -.10 -6.22

SolarFun SOLF 5.31 5.20 -.11 -2.08

SunPower SPWRA 34.89 33.46 -1.43 -4.10

SunTech STP 10.96 10.88 -.08 -.73

Trina Solar TSL 9.05 8.43 -.62 -6.86

WW-Entech WWAT.OB .345 .40 +5.55 +15.94

Yingli YGE 6.42 5.69 -.73 -10.38

Average % change for all solar stocks for week: -3.22


NOTE: All above stocks have market capitization of $100M+ except Akeena Solar, Amtel Systems and WorldWater/Entech Solar. This listing is strictly informational and implies neither endorsement or disapproval of any stock listed. Comments and suggestions are always welcome.