ONE-TWENTY TWO: Trading Financial Markets
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It has been a very long time since a stock blindsided me, but the sting is no less powerful! Yesterday, SunPower (SPWR) dropped the AA-bomb – audit and accounting, announcing that: “…based upon an internal review of its Philippine manufacturing operations, the company believes there may have been unsubstantiated accounting entries made in the first … Read more
Speculative stocks typically get hit the hardest during corrections in the stock market, and solar stocks definitely qualify for a beating. In the past 4 days of selling, TAN, the Claymore/MAC Global Solar Energy Index, is already down 10%. Solar stocks have been big laggards this year as TAN is now back to even on … Read more
Thursday’s stock market sell-off could finally be the start of the sharp Fall correction I have speculated about in various forms for months now. The extent of the technical damage and the heavy distribution of stock certainly seem to have put a ceiling on stock prices for now. Solar stocks were heavily hit as speculative … Read more
It seems traders in ReneSola (SOL) are moving one step too slowly. Options traders loaded up on Oct 7.5 calls earlier this month, only to be greeted with last week’s news that SOL’s revenues would come in a little light based on weaker than expected pricing. SOL also announced a fresh offering of 14.4M in … Read more
Today has been a wild day in the financial markets, and I almost hesitate to jot down my thoughts before the close of trading. However, I will be shutting things down to get the weekend started as soon as possible, so I am writing now while thoughts remain fresh. There is no one theme I … Read more
I added ReneSola (SOL) to my solar portfolio for the first time as a speculative play based on heavy call volume at the October 7.5 strike. I do not know what those call buyers expected, but certainly today’s news is typically not conducive to bullish feelings in the next month or so: an acquisition, issuance … Read more
September has been very kind to solar stocks as most have awakened from summer doldrums and slumber to rise with the rest of the soaring stock market. This new raging fire has motivated me to get more active in trading solar stocks as well, even as it has sometimes been very difficult to keep up … Read more
Last week, I noted heavy call activity in MEMC Electronic Materials (WFR) that was notable enough to lure me into buying. Today, WFR continued its impressive recovery from an earnings warning with an 8% one-day pop giving it a 17% run since the close following warning. Briefing.com attributed today’s trading to takeover speculation. Whatever the … Read more
This past earnings season for solar companies was a general disappointment if measured by stock performance after the earnings releases although the season started with a bang when Sunpower (SPWRA) issued surprise guidance and generated a one-day, 29% pop in price. I wanted to review the conference calls of all the major, publicly traded solar … Read more
Two days ago, MEMC Electronic Materials (WFR) issued a late earnings warning stating that it “…experienced a disruption in production at its polysilicon facility in Pasadena, Texas due to an equipment failure on August 7, 2009, requiring a large portion of the facility to be shut-down…The lost production and related costs are expected to negatively … Read more