ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
I have questioned the finances and balance sheet of Evergreen Solar (ESLR). I have claimed that betting on ESLR is a speculative bet on survival. I used a pullback from the stock’s last big rally as an entry to make that crazy boom or bust bet. Now, I must prepare for the very real possibility … Read more
During the last earnings conference call for Evergreen Solar (ESLR), management claimed that the company had the resources to meet its liquidity needs and had enough cash to sustain current and planned burn rates. A little over two months later, ESLR has announced that it is retrenching and shutting down its manufacturing facility in Devens, … Read more
Evergreen Solar’s balance sheet is a common concern in nearly every earnings conference call. After reviewing earnings on November 4, I concluded that Evergreen Solar (ESLR) “remains a very speculative bet on survival.” After Monday’s announcement of a major recapitalization plan, it is clear that ESLR’s balance sheet remains in precarious shape. The recapitalization plan … Read more
After the stock market’s sharp rally off the March, 2009 lows, most solar stocks stopped appreciating by that summer. For the remainder of the year, they experienced wild swings up and down in price in quick succession. In the summer of 2010, it appeared prospects had finally turned around for the better for solar stocks … Read more
Rallies in solar stocks would be more exciting if they were not so fleeting. In early September, I noted a “stealth rally” was underway in solar stocks. In early October, I wrote breathlessly about a “soaring September” for solar stocks. Just three weeks later I had to warn that selling volume was picking up in … Read more