Aug 31-Sep 4: Dow, NASDAQ, Solar Slip Equally

And September's historically bad month on Wall Street

A report this morning showed a decline in job losses in August which seem to have helped industrial like GE and Caterpillar lead stocks on Friday. However, the gains were not enough to offset losses earlier this week, as reported on MarketWatch.

The Dow lost 103 points for the week ending today, about a 2% drop. This was only the second decline in eight weeks for the index and stopped a two-week gain. September is historically a bad trading month on Wall Street so this week's beginning appears typical. NASDAQ fared better, dropping 10 points, a half-percent loss.

Solar stocks in the 20SSI dropped 3.35 points to 381.7, just .88% down. At least solar's slight drop falls between that of the DJIA and NASDAQ so there's equal opportunity disappointment. Kyocera made the biggest gain this week, up 5.75 or 9% even thought it is not a pure-play solar company. Yingli Solar contracted on Tuesday with a major Czech land development company to supply 5MW of panels for planned industrial parks and office complexes, which could account for its strong week.

Still, panel inventories continue to run high and, and least here in California, there is plenty of groveling for projects considered too small by the major solar players just last year. First Solar, a thin-film PV maker which finished at 191.72 on May 22 continues its decline since then with a 121.47 close today--a shedding of 36%. Less demand in Europe and the incredible low cost of crystal silicon wafers and panels recently is likely to blame for First Solar's slipping.

20 Solar Stocks Index Week of August 31-September 4, 2009

	Monday Open	Friday Close	Up/Down	% Change	Close 1/5/09*	Close 3/6/09**
Dow Jones DJIA	9544.2	9441.27	-102.93	-1.090%	8952.89	6626.95
NASDAQ	2028.77	2018.78	-9.99	-.4948	1628.03	1293.85
Akeena Solar AKNS	1.09	1.18	+.09	+8.257	2.28	.61
Amtel Systems ASYS	5.03	5.01	-.02	-.3992	4.00	2.73
Applied Materials AMAT	13.27	13.45	+.18	+1.356	10.67	8.70
Canadian Solar CSIQ	15.19	14.90	-.29	-1.946	7.00	3.0601
ECD (UniSolar) ENER	11.92	10.41	-1.51	-14.51	29.33	17.45
Entech Solar ENSL.OB	.1800	.1805	+.005	+2.777	.28	.23
Evergreen Solar ESLR	1.65	1.68	-.24	-14.54	3.60	1.03
First Solar FSLR	124.21	121.47	-2.74	-2.255	157.80	108.49
GT Solar Int. SOLR	5.27	5.19	-.08	-1.541	4.00	4.02
JA Solar JASO	3.62	3.42	-.20	-5.847	5.09	1.91
Kyocera KYO	81.44	87.18	+5.74	+9.341	71.87	54.21
LDK Solar LDK	9.24	8.94	-.30	-3.355	14.84	4.40
MEMC Elect. WFR	16.55	16.59	+.04	-.2416	15.76	13.68
Renesola SOL	5.73	5.55	-.18	+3.335	5.15	2.1201
Satcon SATC	2.07	1.78	-.29	-16.29	1.60	1.23
SolarFun SOLF	5.30	5.16	-.14	-2.713	6.12	2.30
SunPower SPWRA	26.14	26.07	-..07	-.4208	45.13	23.39
SunTech STP	18.00	14.85	-3.15	-21.21	13.55	5.34
Trina Solar TSL	27.70	26.43	-1.27	-4.805	10.09	7.23
Yingli YGE	11.02	11.83	+.81	+7.350	7.25	3.888
20SSI Weekly Cumulative:	Previous 384.62	Current 381.27	Change -3.35/-.88%	Avg Stock -2.510%	1/05/09* 415.41	3/06/09** 266.01

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

Aug 24-28: Dow, NASDAQ Inch Up; 8 Solar Stocks Gain

Usual late-summer vacations mean trading lull

Both the Dow Jones Industrial Average and the NASDAQ gained about .4% in light trading for the week. The 20SSI was down just 1.27 to finish at 384.62 a .33% decline from the previous week.

Economists are predicting 250,000 jobs lost in August, slightly up from July's 247,000. The Labor Department released its report late Friday which, along with data from payroll processor ADP, could strongly influence trading on Monday.

Eight of the 20 solar stocks in this index finished up: Entech, First Solar, Kyocera, LDK Solar, Renesola, Satcon, Suntech and Trina Solar. None of the gains exceeded 6%--a far cry from the boom period from March through June. Solar inventories are still climbing as the economy remains weak and, although credit is loosening, it's not loose enough to allow many planned projects to get underway. On the other hand, those with cash or financing in place, solar panels, inverters, trackers and racking have never been cheaper. For one who experiencing the shortage of both silicon cells and panels in 2004-05, it is truly amazing the deals that can be made on even better equipment today. Coming electricity rate hikes--steep and soon--could force the issue for power-needy consumers small and large.

20 Solar Stocks Index Week of August 24-28, 2009

	Monday Open	Friday Close	Up/Down	% Change	Close 1/5/09*	Close 3/6/09**
Dow Jones DJIA	9505.96	9544.2	+38.24	+.4022%	8952.89	6626.95
NASDAQ	2020.90	2028.77	+7.87	+.3894	1628.03	1293.85
Akeena Solar AKNS	1.17	1.09	-.08	-7.339	2.28	.61
Amtel Systems ASYS	5.05	5.03	-.02	-.3976	4.00	2.73
Applied Materials AMAT	13.74	13.27	-.47	-3.541	10.67	8.70
Canadian Solar CSIQ	15.98	15.19	-.79	-5.200	7.00	3.0601
ECD (UniSolar) ENER	12.36	11.92	-.44	-3.691	29.33	17.45
Entech Solar ENSL.OB	.1750	18.00	+.005	+2.857	.28	.23
Evergreen Solar ESLR	1.89	1.65	-.24	-14.54	3.60	1.03
First Solar FSLR	121.54	124.21	+2.67	+2.196	157.80	108.49
GT Solar Int. SOLR	5.38	5.27	-.11	-2.087	4.00	4.02
JA Solar JASO	3.79	3.62	-.17	-4.696	5.09	1.91
Kyocera KYO	79.85	81.44	+1.59	+1.991	71.87	54.21
LDK Solar LDK	8.94	9.24	+.30	+3.355	14.84	4.40
MEMC Elect. WFR	17.00	16.55	-.45	-2.719	15.76	13.68
Renesola SOL	5.53	5.73	+.20	+3.616	5.15	2.1201
Satcon SATC	1.96	2.07	+.11	+3.157	1.60	1.23
SolarFun SOLF	5.51	5.30	-.21	-3.962	6.12	2.30
SunPower SPWRA	26.25	26.14	-.11	-.4208	45.13	23.39
SunTech STP	15.30	18.00	-.25	+1.661	13.55	5.34
Trina Solar TSL	25.93	27.70	+1.77	+6.826	10.09	7.23
Yingli YGE	11.07	11.02	-.05	-.4537	7.25	3.888
20SSI Weekly Cumulative:	Previous 385.89	Current 384.62	Change -1.27/-.33%	Avg Stock -.6797%	1/05/09* 415.41	3/06/09** 266.01

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

This Week: Dow Down, NASDAQ Up; Solar Dips About 2%

Banking sector giving investors heebee-jeebies

The six-week climb for the Dow ended today when the index fell 55 points from last week. However, NASDAQ kept its streak going with a 21.22 net increase for the week. The select 20 Solar Stock Index fell for the second straight week down about 2%.

The mixed performance is attributed to the shakiness of the American banking system. Just today four banks were shuttered by federal and state regulators in Georgia, Michigan, California and Idaho as the credit crisis crunches the economy.

Only six of the 20SSI finished ahead for the week: Amtel Systems, ECD (UniSolar), First Solar, Kyocera, Satcon and Trina Solar. Still, solar stocks are up over 50% since the mini-bull market began March 9. The PV industry will take hits but the future looks brighter for it and wind energy as more state and federal renewable energy standards take effect or get more stringent. For the first time ever, there is plenty of PV panels and related equipment onhand and this means good news for homeowners and commercial interests by driving down cost. Of course, a better credit atmosphere would help.

Week of April 20-24, 2009

	Monday Open	Friday Close	Up/Down	% Change	Close 1/5/09
Dow Jones DJIA	8131.33	8076.29	-55.04	-.0068%	8952.89
NASDAQ	1673.07	1694.29	+21.22	+1.268	1628.03
Akeena Solar AKNS	1.24	1.12	-.12	-10.714	2.28
Amtel Systems ASYS	3.2901	3.67	+.3799	+11.54	4.00
Applied Materials AMAT	11.45	11.70	-.22	-.856	10.67
Canadian Solar CSIQ	6.88	6.46	-.42	-6.114	7.00
ECD (UniSolar) ENER	15.82	16.66	+.84	+5.309	29.33
Entech Solar ENSL.OB	.26	.2598	-.0002	.0007	.28
Evergreen Solar ESLR	2.21	2.16	-.05	-2.314	3.60
First Solar FSLR	143.80	147.46	+3.66	+2.545	157.80
GT Solar Int. SOLR	6.97	6.58	-.39	-5.927	4.00
JA Solar JASO	3.41	3.20	-.21	-6.562	5.09
Kyocera KYO	69.55	75.68	+6.13	+8.813	71.87
LDK Solar LDK	8.39	7.37	-1.02	-13.839	14.84
MEMC Elect. WFR	15.59	15.44	-.15	-.0097	15.76
Renesola SOL	3.32	3.08	-.24	-7.792	5.15
Satcon SATC	1.79	1.96	+.19	+9.497	1.60
SolarFun SOLF	4.46	4.07	-.39	-9.582	6.12
SunPower SPWRA	26.45	25.41	-1.04	-4.092	45.13
SunTech STP	14.75	13.16	-1.59	-12.082	13.55
Trina Solar TSL	12.38	13.20	+.82	+6.623	10.09
Yingli YGE	7.01	6.46	-.55	-8.513	7.25
Percent change all 20 stocks this week:				-2.123%

Solar Stock Update: Close to Dow

Stimulus ambivalence...

The Dow dropped 430.46 points since the end of trading Monday, 5.2% down. The techy NASDAQ was less drab with a 62.2 point drop; 3.6% off since Monday. All but four solar stocks dropped this week averaging 5.41% down for all twenty in this index.

It seems the country is ambivalent about the economic stimulus as it's been hammered, chewed and emasculated by the Republicans who appear as though they won last November. Obama's bipartisan reach has been a failure but not from lack of effort. The Dems finally must realize the GOP sees bipartisanship as compromise and compromise implies weakness, a perception they used ruthlessly when they actually did control Congress awhile back. If Repubs feel they were left out of the stimulus planning--as they questionably claim--their tactics could totally backfire. The Dems might re-realize it was they who won big last November and rightfully assert themselves. But then, probably not.

Week of: February 9-13, 2009

	Monday	Friday	Up/Down	% Change
Dow Jones DJIA	8280.87	7850.41	-430.46	-5.20
NASDAQ	1591.56	1534.36	-62.20	-3.60
Akeena Solar AKNS	1.82	1.81	-.01	-.55
Amtel Systems ASYS	4.199	3.38	-.819	-20.51
Applied Materials AMAT	10.20	9.51	-.69	-6.77
Canadian Solar CSIQ	5.58	5.00	-.58	-10.40
ECD (UniSolar) ENER	28.16	28.95	+.79	+2.80
Entech Solar ENSL.OB	.33	.35	+.02	+6.06
Evergreen Solar ESLR	1.77	1.66	-.11	-6.22
First Solar FSLR	148.94	144.45	-4.49	-3.02
GT Solar Int. SOLR	5.50	5.13	-.37	-6.73
JA Solar JASO	2.99	2.66	-.33	-11.04
Kyocera KYO	68.40	64.00	-4.40	-6.44
LDK Solar LDK	11.15	10.65	-.50	-4.49
MEMC Elect. WFR	15.65	16.11	+.46	+2.93
Renesola SOL	4.00	3.58	-.42	-10.50
Satcon SATC	1.32	1.28	-.04	-3.04
SolarFun SOLF	5.07	4.53	-.54	-10.66
SunPower SPWRA	35.94	35.00	-.94	-2.62
SunTech STP	10.14	9.46	-.68	-6.71
Trina Solar TSL	8.35	8.54	+.19	+2.27
Yingli YGE	5.98	5.76	-.22	-3.68
Percent change all 20 stocks this week:				-5.41%

Solar Stocks Update: Jan. 26-30, 2009

Down month finishes upbeat, sort of

Okay, it was a dismal month for the Dow, NASDAQ and solar stocks overall. This post I added an additional stat showing percentage loss or gain since Jan. 5 when this stock index began. Only two solar stocks were up for the month, Amtel Systems and Entech Solar (formerly WorldWater & Solar Technologies). Either these companies have something good going or they just got lucky. Average solar stock loss for all twenty was over 18% but this week finished on a high note as gainers topped losers 14 to 6 with the average stock price up for the week about 3%.

Reasons for the down market involve the same suspects: Weak economy exacerbated by growing unemployment; banks still stingy about lending (our money!); and an anemic economy worldwide that can't purchase our exports (such as they are). As for solar, wintertime simply is not a good solar sales period. What's more, the lending problem has stymied several large solar projects but power purchase agreements are beginning to jump-start others which is a reason why the month has finished up. Furthermore, extension of the solar investment tax credit is having a positive effect, at least here in California, where the rebates are still decent; electricity rates are still climbing; and the sun still produces appreciable kilowatt hours despite the season.

I guess it's appropriate now to remind readers it's always the sun that gives a cloud its silver lining.

Week of: January 26-30, 2009

Symbol/Name Monday Friday +/- % Change % Since 1/05/09

DJIA/Dow Jones 8116.03 8000.86 -115.17 -1.42 -11.89

NASDAQ 1489.46 1476.42 -12.04 -.88 -9.32

Akeena Solar AKNS 2.00 1.85 -.15 -7.50 -18.86

Amtel Systems ASYS 4.17 4.04 -.13 -3.12 +1.01

Applied Mat. AMAT 9.83 9.37 -.46 -4.68 -7.88

Canadian Solar CSIQ 5.21 5.46 +.25 +1.05 -25.58

ECD (UniSolar) ENER 24.79 25.17 +.38 +1.53 -15.48

Entech (WW) ENSL.OB .36 .4075 +.0475 +13.19 +31.29

Evergreen Solr ESLR 2.12 2.21 +.09 +4.24 -38.62

First Solar FSLR 139.05 142.80 +3.75 +2.69 -9.51

GT Solar Int. SOLR 3.86 3.63 -.23 -5.96 -3.50

JA Solar JASO 2.46 2.66 +.20 +8.13 -47.75

Kyocera KYO 67.35 63.62 -.73 -.014 -11.48

LDK Solar LDK 11.54 12.10 +.56 +4.85 -18.47

MEMC Elect. WFR 13.41 13.60 +.19 +1.41 -13.71

Renesola SOL 3.39 3.68 +.29 +8.55 -28.55

Satcon SATC 1.43 1.38 -.05 -3.50 -13.75

SolarFun SOLF 4.91 4.96 +.05 +1.01 -18.96

SunPower SPWRA 28.80 33.56 +4.76 +16.52 -25.64

SunTech STP 8.85 9.41 +.56 +6.32 -30.56

Trina Solar TSL 7.47 8.08 +.61 +8.16 -19.93

Yingli YGE 5.27 5.59 +.32 +6.07 -22.90

Average % change for all solar stocks for week: +2.946%

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. Stock index compiled with the use of MarketBrowser available free at www.marketbrowser.com.