The Original solar application
Well, on the price side at least. When I said alternative energy plays would be good for the long run, I didn’t expect it to shoot up the next day! Maybe that Obama audio clip is behind all this?
Look at the gains across the board:
JA Solar Holdings Co., Ltd. (ADR) [[jaso]] …filling the gap real fast.
Energy Conversion Devices, Inc. [[ener]]
Yingli Green Energy Hold. Co. Ltd. (ADR) [[yge]] … RC’s overnight winner
First Solar, Inc. [[fslr]] …post earnings rally.
[[tan]] …breakout to double digits. Basically, a mini-FSLR
All of them had big volume in the morning and has since went to light trading so I wouldn’t buy here. I think fading Energy Conversion Devices, Inc. [[ener]] if FSLR gets under 155 looks like a good day trade, especially if the Dow decides to go red on us.
Anyone here want [[peix]] for $1 a share?
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Do you think it solar holds up well for the rest of the year?
I want to add more but am afraid the rally over the last 3 sessions has been driven by election tomorrow.
Does solar have legs post election?
i wouldn’t add here, we could get sell on the news on election day. however, if you’re unsure, just watch FSLR. I’d sell when FSLR approaches that resistance around 161 OR if FSLR gets hit on profit-taking. if you’re in it for the long term, just hold, and add in a few months.
another reason why I don’t like longs here is the Vix is now at the bottom of a channel support, something like 49-52. I will be shorting more around that area, especially if the elections gives me a spike down.
Covered my daytrade short on ENER at 38.36, short at 39.20. Strategy loosely outlined in the post. ENER still has another 1.5% downside, but I’m not sure of the market’s close.
SOL LDK hot 2
Gio-
thanks for the insight. I’m fairly new to your blog so i apologize if I’ve missed a post and if this is redundant. But are these your favorite long alt. energy stocks or just the ones that are most attractive right now? and are you liking anything besides solar? thanks
Yossarian, welcome!
I issued a buy on solars for a short term play last week based on FSLR’s earnings, and Obama effect. Turned out to be an excellent play when I released the audio on Obama hating coal. Notice the rise in volume off the double bottom for FSLR. Here’s the post… http://ibankcoin.com/gioblog/?p=2193
Also, I like TAN, which is relatively quiet. Here’s my post on them: http://ibankcoin.com/gioblog/?p=2049
Here’s one of many posts on JASO that I wrote about a year ago. I still like them fundamentally: http://www.thehawaiitrader.com/2007/07/ja-solar-has-supply-to-feed-demand.html
Here’s my Obama Hates Coal post, which I posted before McCain went public with it on TV today…
http://ibankcoin.com/gioblog/?p=2199
Hope this helps you with your alternative energy homework. Its at least a start. Oh yeah, my other favorite sector right now is Health Care. Check out AFAM, and EYE (which I will blog about this weekend).
aloha!
This is great. Thanks very much.
mahalo!
Spot on THT. I made some $$$ on sol. Thanks for these useful posts.