Solars Rocketing Higher as Crude Gains (FSLR, SPWRA, LDK, more..)
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Solar stocks are absolutely skyrocketing this morning amid crude oil prices which have bounced back over the $50 mark, currently up about 5% from Friday's close. Additionally, value investors seem to have to stepped in today as these stocks were approaching oversold levels (since the beginning of November, solar stocks, as measured by the Claymore/MAC Global Solar Index (NYSE: TAN), fell more than 60%).
Besides today's jump in oil and the recent oversold conditions, we are not hearing any industry or company specific news that would justify such upside. Here is a summary of today's price action in some popular solar stocks:
- First Solar (Nasdaq: FSLR) up 16.5% to $108.36. Notably, shares of First Solar were down more than 50% in November prior to Friday's rally.
- SunPower (Nasdaq: SPWRA) up 30% to $26.75. The stock is one of the best performing solars today as it has been beaten down the most in November -- SunPower has fallen more than 62%.
- JA Solar (Nasdaq: JASO) up 36% to $2.86
- Solarfun (Nasdaq: SOLF) up 24.6% to $4.05
- Canadian Solar (Nasdaq: CSIQ) up 13.3% to $4.60
- ReneSola (NYSE: SOL) up 13.6% to $2.67
- LDK Solar (NYSE: LDK) up 10.7% to $12.20
- Trina Solar (NYSE: TSL) up 22.8% to $7.81
SunPower Corporation engages in the design, manufacture, and marketing of solar electric power technologies.
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Comments
Dont worry about solar profits!!
Just invest in best solar stocks and sit back watch them expand so fast that fossil fuel prices will be suppressed for years to come... Remember fossil fuel is far bigger than solar . If you chase for solar profits based on higher fossil fuels, you will not think that you are paying more for fossil fuel while jumping with joy over solar capital gains... You will go nowhere fast!! Stop and think ... just stop worrying about solar stocks at any oil price be it $10 a barrel or $200 a barrel.. Oil companies will trick you with lower oil prices after you invest in solar stocks in hope of higher oil prices... Dont be suckered by Big Oil!! Just get committed to solar stocks and hang on until Big Oil finally lose control of the energy pricing schemes for good!! Solar stocks has nowhere but up as long as you stay committed and ignore everybody !!! Even if you lose money,, you will save more from lower oil prices than what you will lose from falling solar stocks... Our economy is downtrodden by big oil price gyrations.!!!! Want energy interdependence??? Solar stocks is the right path to take!
It Is A Mistake to Link Oil and Solar!
It is a mistake to wait for oil prices to climb before jumping back in solar stocks!!! It is best of both worlds if you invest in solar stocks and dump oil stocks along with energy conservation... Solar stocks need higher oil prices to survive but you forget that you are paying for oil products like gasoline in higher prices at same time you profit from solar stocks.. You are back to zero!! Push fossil fuel prices and support solar stocks... The oil investors suckered you iin thinking that higher oil prices is necessary to help solar stocks, because oil investors wants to double dip in both stocks while you still break even.
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I Assume Oil Prices is at bottom..
Gumby on Nov 24, 2008 12:33 PMI assume that oil prices is at bottom as cold weather is coming and then summer travel ,etc will follow until labor day.. This is an annual same bull story that can be broken if we iinvest mightly in solar stocks to break the silly cycles of oil prices....