ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
On Monday, Goldman Sachs added First Solar (FSLR) to its conviction buy list with a $165 price target. The market’s response was swift with FSLR ending the day up 6% and a closing price of $156.40. I wish I had received the memo because I sold off the last of my FSLR positions on Friday. … Read more
NOW I better understand Wunderlich Securities’s bullish case for GT Solar (SOLR). When I wrote December 1 about how diversification into sapphire crystallization systems (used in the manufacture of LED products) is paying dividends for SOLR, I noted my confusion over Wunderlich’s reiteration of a buy rating on SOLR. That reiteration came at the same … Read more
GT Solar International Inc (SOLR) jumped 15% on news that it secured two large orders for its sapphire crystallization systems used in the manufacture of LED products. From the press release: GT Solar has “…has received its first two orders totaling more than $84 million for sapphire crystallization systems. The orders come from Jiangsu Jixing … 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
Prices soared for solar stocks in September. In October, volume has soared…but prices have swung sharply downward after a very strong start to the month. In most cases, solar stocks have lost all their gains for the month and then some. This trading action is creating buying opportunities, especially where uptrends and/or critical technical support … Read more
I wrote earlier about a “stealth” rally in solar stocks featuring ReneSola (SOL), Solarfun Power Holdings Co Ltd (SOLF), LDK Solar Co Ltd (LDK), Trina Solar Ltd (TSL), and First Solar (FSLR). In all the excitement, I managed to neglected (at least?) two other stocks publicly traded in the U.S. that are in the green … 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