Comeback week for Solar Stocks?
Solar stocks just capped a fantastic week with every solar stock except one (WFR) clocking a double digit gain. This seems like the best week solar stocks have had this year but are still far off from where they started in 2008.
The biggies, First Solar (FSLR), Suntech Power (STP) and Sunpower (SPWR), all made impressive comebacks. I am kicking myself for not buying Suntech Power (STP) when it was in the 30’s. I was closely watching it and was hoping to enter Suntech in the high 20’s. Well, before I knew it Suntech goes from 30 to 40 in a week.
The question is have the Solar Stocks turned a corner here? I don’t have the answer. Do you? Do you see this as an opportunity for a short-term Short or are you planning to go Long.
* No holdings in any of the above mentioned stocks
March 30th, 2008 at 7:13 pm
Wait for a small, tiny pull-back and go long. Don’t short solar stocks, for it is rather risky. Better to go long. I have positions in FSLR, SPWR, JASO and CSIQ. And I can clearly see that more institutional investors are buying than selling. So you join the crowd and buy, too, before you miss a major run-up.
March 31st, 2008 at 7:31 am
I read an analyst report showing the price target for STP to be in the $90s (this was when the stock hit its 52 week low) there is a strong Buy sentiment on solar stocks. Going long on this stock is something I’m about to do (as I am also kicking myself for not buying in the 30s but hey hindsight is 20/20).
April 9th, 2008 at 1:52 am
First solar lead thin film solar panel development. It must grow up soon.