Big bounce back
U.S. stocks had their best week in nearly a year on optimism of second-quarter earnings that propelled a surge from the worst levels this year.
The DJIA shot 511 points up to finish Friday at 10197.72, a 5.3% gain. NASDAQ followed suit with a 105-point gain to 2196.45, a 5% jump. The 20 Solar Stock Index (20SSI) saw a second straight plus week with a eight-point gain to 362.93, a 9% bump. (NOTE: SSI total was first reported closing at 341.28 for the week. Corrected 7/17/10)
Nineteen in the 20SSI gained with JA Solar, SolarFun, and Suntech leading the pack. Average solar stock gains were over 9%.
MarketWatch reports that the rally comes from investors hopeful that the recent 2010 lows may have exaggerated expected lows on corporate earnings from the slipping euro and a slow global economy.
Now the focus is on what the actual second-quarter earnings will be.
20 Solar Stocks Index Week of July 5-9, 2010
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09* | Close 3/6/09** | |
| Dow Jones DJIA | 9686.48 | 10197.72 | +511.24 | +5.277% | 8952.89 | 6626.95 |
| NASDAQ | 2091.79 | 2196.45 | +104.66 | +5.003 | 1628.03 | 1293.85 |
| Akeena Solar AKNS | .58 | .66 | +.08 | +13.39 | 2.28 | .61 |
| Amtel Systems ASYS | 8.59 | 8.69 | +.10 | +1.164 | 4.00 | 2.73 |
| Applied Materials AMAT | 12.00 | 12.30 | +.30 | +2.500 | 10.67 | 8.70 |
| Canadian Solar CSIQ | 10.14 | 11.45 | +1.31 | +12.92 | 7.00 | 3.0601 |
| ECD (UniSolar) ENER | 4.59 | 4.81 | +.22 | +4.793 | 29.33 | 17.45 |
| Entech Solar ENSL.OB | .14 | .1380 | -.0020 | -1.449 | .28 | .23 |
| Evergreen Solar ESLR | .6399 | .75 | +.1101 | +17.20 | 3.60 | 1.03 |
| First Solar FSLR | 120.52 | 132.13 | +11.61 | +9.879 | 157.80 | 108.49 |
| GT Solar Int. SOLR | 5.65 | 6.11 | +.46 | +8.141 | 4.00 | 4.02 |
| JA Solar JASO | 5.08 | 6.16 | +1.08 | +21.26 | 5.09 | 1.91 |
| Kyocera KYO | 80.28 | 84.02 | +3.74 | +4.658 | 71.87 | 54.21 |
| LDK Solar LDK | 5.55 | 6.15 | +.60 | +10.81 | 14.84 | 4.40 |
| MEMC Elect. WFR | 9.67 | 10.81 | +1.14 | +11.79 | 15.76 | 13.68 |
| Renesola SOL | 6.84 | 7.60 | +.76 | +11.11 | 5.15 | 2.1201 |
| Satcon SATC | 2.84 | 2.89 | +.05 | +1.760 | 1.60 | 1.23 |
| SolarFun SOLF | 7.43 | 8.99 | +1.56 | +20.99 | 6.12 | 2.30 |
| SunPower SPWRA | 12.81 | 14.39 | +1.58 | +12.33 | 45.13 | 23.39 |
| SunTech STP | 9.39 | 11.37 | +1.98 | +21.08 | 13.55 | 5.34 |
| Trina Solar TSL | 19.26 | 21.11 | +1.85 | +9.605 | 10.09 | 7.23 |
| Yingli YGE | 11.12 | 12.40 | +1.28 | +11.51 | 7.25 | 3.888 |
| 20SSI Weekly Cumulative: | Previous 333.12 | Current 362.93 | Change +29.81/+8.94% | Avg Stock +9.227%*** | 1/05/09* 415.41 | 3/06/09** 266.01 |
** The Concensus "new" bull market began on Monday, March 9, 2009.
*** Starting 6/11/10: In order to arrive at a truer stock gain/loss percentage, stocks with the highest percentage gain and worst drop are eliminated from the average.
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 are always welcome.
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