And September's historically bad month on Wall Street
A report this morning showed a decline in job losses in August which seem to have helped industrial like
GE and Caterpillar (
CAT) lead stocks on Friday. However, the gains were not enough to offset losses earlier this week, as reported on MarketWatch.
The Dow lost 103 points for the week ending today, about a 2% drop. This was only the second decline in eight weeks for the index and stopped a two-week gain. September is historically a bad trading month on Wall Street so this week's beginning appears typical. NASDAQ fared better, dropping 10 points, a half-percent loss.
Solar stocks in the 20SSI dropped 3.35 points to 381.7, just .88% down. At least solar's slight drop falls between that of the DJIA and NASDAQ so there's equal opportunity disappointment. Kyocera made the biggest gain this week, up 5.75 or 9% even thought it is not a pure-play solar company. Yingli Solar contracted on Tuesday with a major Czech land development company to supply 5MW of panels for planned industrial parks and office complexes, which could account for its strong week.
Still, panel inventories continue to run high and, and least here in California, there is plenty of groveling for projects considered too small by the major solar players just last year. First Solar, a thin-film PV maker which finished at 191.72 on May 22 continues its decline since then with a 121.47 close today--a shedding of 36%. Less demand in Europe and the incredible low cost of crystal silicon wafers and panels recently is likely to blame for First Solar's slipping.
20 Solar Stocks Index Week of August 31-September 4, 2009
|
Monday Open |
Friday Close |
Up/Down |
% Change |
Close 1/5/09* |
Close 3/6/09** |
| Dow Jones DJIA |
9544.2 |
9441.27 |
-102.93 |
-1.090% |
8952.89 |
6626.95 |
| NASDAQ |
2028.77 |
2018.78 |
-9.99 |
-.4948 |
1628.03 |
1293.85 |
|
|
|
|
|
|
| Akeena Solar AKNS |
1.09 |
1.18 |
+.09 |
+8.257 |
2.28 |
.61 |
| Amtel Systems ASYS |
5.03 |
5.01 |
-.02 |
-.3992 |
4.00 |
2.73 |
| Applied Materials AMAT |
13.27 |
13.45 |
+.18 |
+1.356 |
10.67 |
8.70 |
| Canadian Solar CSIQ |
15.19 |
14.90 |
-.29 |
-1.946 |
7.00 |
3.0601 |
| ECD (UniSolar) ENER |
11.92 |
10.41 |
-1.51 |
-14.51 |
29.33 |
17.45 |
| Entech Solar ENSL.OB |
.1800 |
.1805 |
+.005 |
+2.777 |
.28 |
.23 |
| Evergreen Solar ESLR |
1.65 |
1.68 |
-.24 |
-14.54 |
3.60 |
1.03 |
| First Solar FSLR |
124.21 |
121.47 |
-2.74 |
-2.255 |
157.80 |
108.49 |
| GT Solar Int. SOLR |
5.27 |
5.19 |
-.08 |
-1.541 |
4.00 |
4.02 |
| JA Solar JASO |
3.62 |
3.42 |
-.20 |
-5.847 |
5.09 |
1.91 |
| Kyocera KYO |
81.44 |
87.18 |
+5.74 |
+9.341 |
71.87 |
54.21 |
| LDK Solar LDK |
9.24 |
8.94 |
-.30 |
-3.355 |
14.84 |
4.40 |
| MEMC Elect. WFR |
16.55 |
16.59 |
+.04 |
-.2416 |
15.76 |
13.68 |
| Renesola SOL |
5.73 |
5.55 |
-.18 |
+3.335 |
5.15 |
2.1201 |
| Satcon SATC |
2.07 |
1.78 |
-.29 |
-16.29 |
1.60 |
1.23 |
| SolarFun SOLF |
5.30 |
5.16 |
-.14 |
-2.713 |
6.12 |
2.30 |
| SunPower SPWRA |
26.14 |
26.07 |
-..07 |
-.4208 |
45.13 |
23.39 |
| SunTech STP |
18.00 |
14.85 |
-3.15 |
-21.21 |
13.55 |
5.34 |
| Trina Solar TSL |
27.70 |
26.43 |
-1.27 |
-4.805 |
10.09 |
7.23 |
| Yingli YGE |
11.02 |
11.83 |
+.81 |
+7.350 |
7.25 |
3.888 |
| 20SSI Weekly Cumulative: |
Previous 384.62 |
Current 381.27 |
Change -3.35/-.88% |
Avg Stock -2.510% |
1/05/09* 415.41 |
3/06/09** 266.01 |
