ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The stock for SunPower Corporation (SWPRa) has remained in a holding pattern, directly under resistance from the 50-day moving average (DMA), in the two weeks since SPWRa provided an empty update on its on-going audit committee investigation. I took this opportunity to dump my current position at break-even. I feel fortunate to do so after … Read more
I am always on the hunt for trading opportunities in solar stocks. For a third time, ReneSola (SOL) appears to be a long opportunity. My previous two attempts failed as I bought calls instead of shares. Purchasing shares instead of calls would have left me flat at this point. I am looking for a charmed … Read more
LDK Solar (LDK) dropped 15% today as the company announced it will issue 18.9 American Depository Receipts as part of a larger bid to remain a going concern. LDK filed a 6K with the SEC summarizing its problems with cash flow, and its plan to arrest its descent into bankruptcy. The introduction states: “We are … Read more
In a year where Chinese solar companies have generally out-performed American solar companies, LDK stands out as a laggard. LDK is down 31% for the year whereas every other major Chinese solar stock traded on the American exchanges is no worse than flat on the year. When Q-Cells announced it would terminate a supply contract … Read more
Over the last four days, Sunpower Corporation (SWPRa) completed a successful retest of the March lows (intra-day low of $19.70, closing low of $20.91). The next price target is around $26.25 with a close of the gap created by the news of accounting irregularities at its Philippine manufacturing operations. This price level will likely meet … Read more