Week reverses a three-week drop
It was a rebound week on Wall Street. The Dow saw five consecutive gaining days charging back 597 points to 8743.94, a juicy 7% up from last Friday's close. The NASDAQ rebounded, too, climbing nearly 131 points to finish at 1886.61, over a 7% gain as well. It's the eight consecutive gain for NASDAQ, the best run in over four years. The 20 Solar Stocks Index ascended 22.1 points to end the week at 392.5, nearly a 6% comeback.
Overall solar stocks rose 10.5% with only one of the 20 not gaining ground. Friday's trading cooled down for solar as 14 stocks dropped slightly from yesterday but the last five days stopped a three-week slide.
Analysts say the good Wall Steet week is largely due to strong earnings reports from Intel and IBM and some encouraging news on the economy. After about a three-week drubbing, solar stocks may have been perceived as bargains this week, thus the surge. The energy bill before the Senate will be more of a boon for Big Oil and King Cole, so the rise in solar stocks, to this blogger, should not be attributed to the energy bill in its current form.
Week of July 13-17, 2009
|
Monday Open |
Friday Close |
Up/Down |
% Change |
Close 1/5/09* |
Close 3/6/09** |
| Dow Jones DJIA |
8146.52 |
8743.94 |
+597.42 |
+7.333% |
8952.89 |
6626.95 |
| NASDAQ |
1756.03 |
1886.61 |
+130.58 |
+7.436 |
1628.03 |
1293.85 |
|
|
|
|
|
|
| Akeena Solar AKNS |
1.14 |
1.11 |
-.03 |
-2.703 |
2.28 |
.61 |
| Amtel Systems ASYS |
4.73 |
4.94 |
+.21 |
+4.439 |
4.00 |
2.73 |
| Applied Materials AMAT |
11.00 |
12.67 |
+1.67 |
+15.18 |
10.67 |
8.70 |
| Canadian Solar CSIQ |
9.82 |
13.90 |
+4.08 |
+41.55 |
7.00 |
3.0601 |
| ECD (UniSolar) ENER |
12.14 |
12.98 |
+.84 |
+6.92 |
29.33 |
17.45 |
| Entech Solar ENSL.OB |
.1680 |
.1700 |
+.0020 |
+1.190 |
.28 |
.23 |
| Evergreen Solar ESLR |
1.99 |
2.06 |
+.07 |
+3.517 |
3.60 |
1.03 |
| First Solar FSLR |
143.10 |
144.55 |
+1.45 |
+1.013 |
157.80 |
108.49 |
| GT Solar Int. SOLR |
4.77 |
5.44 |
+.77 |
+14.04 |
4.00 |
4.02 |
| JA Solar JASO |
3.78 |
4.48 |
+.70 |
+18.52 |
5.09 |
1.91 |
| Kyocera KYO |
72.83 |
72.96 |
+.13 |
+.1785 |
71.87 |
54.21 |
| LDK Solar LDK |
8.53 |
9.22 |
+.69 |
+8.089 |
14.84 |
4.40 |
| MEMC Elect. WFR |
16.61 |
18.76 |
+2.15 |
+12.94 |
15.76 |
13.68 |
| Renesola SOL |
4.64 |
5.27 |
+.63 |
+13.57 |
5.15 |
2.1201 |
| Satcon SATC |
1.70 |
1.79 |
+.09 |
-5.294 |
1.60 |
1.23 |
| SolarFun SOLF |
5.25 |
6.25 |
+1.00 |
+19.05 |
6.12 |
2.30 |
| SunPower SPWRA |
22.35 |
23.29 |
+.94 |
+4.205 |
45.13 |
23.39 |
| SunTech STP |
14.35 |
15.95 |
+1.60 |
+11.15 |
13.55 |
5.34 |
| Trina Solar TSL |
21.27 |
25.00 |
+3.73 |
+17.53 |
10.09 |
7.23 |
| Yingli YGE |
10.24 |
11.73 |
+1.49 |
+14.55 |
7.25 |
3.888 |
| 20SSI Weekly Cumulative: |
Previous 370.4 |
Current 392.5 |
Change +22.1/+5.97% |
Avg Stock 10.51% |
1/05/09* 415.41 |
3/06/09** 266.01 |
* The starting date of the 20 Solar Stock Index (20SSI).
** NOTE: Concensus "new" bull market began on Monday, March 9, 2009.
