3SOF

Thanks for the info Se7en. Personally I use Seeking Alpha a lot and have no hesitation in recommending anyone to do the same. Obviously the guy likes TSL but makes a nice case for Solar's overall.

Update:

Friday's session was quite bloody. A combination of factors; OIL - weekly oil inventories reported by the Energy department dropped 1.5% and a Morgan Stanley analyst predicted oil may hit $150 in weeks. Plus the US employment report showed unemployment up 0.5% to 5.5% in May.  Not many stocks survived the downside impact of these catalysts as oil surged to $139 area. Generally the relationship is oil goes up stocks go down.

SOL ran up from the open probably due to the correlated way solar stocks have been trading relative to Oil prices, but it quickly succumbed to the bearish market sentiment along with most other shares. Solar stocks have a higher degree of volatility than your average stock and as mentioned when we opened the position we need to allow for that to extract the potential from this trade. Technically it has not damaged the layout and still remains comfortably in the ascending channel and support zones.
We won't set a hard stop just yet, solar stocks in particular can play havoc with stops due to their volatile nature, but we are watching the ascending channel and 50 day MA zones as key support on this current pattern. With upside potential towards $40.

Trading Plan:

Hold SOL

Update:
All solar stocks took a hit yesterday; SOL unfortunately for us was the leading offender! As mentioned before solar stocks have high volatility, a stock that can run up 10%+ in a day as well can do the same to the downside. Technically the ascending support was lost but support found in the 50MA zone plus the early May breakout level (which we identified previously as the area of key support). The bottoming tail action confirms the support found here, but it will be critical for this trade for that support to hold. We are down 15% in a few days (great start Aussie thanks!!).
On a global level interest rate rise fears and Chinese lenders being told they have to reserve a record amount of money to curb credit growth have sent a chill through markets and China in particular. This will no doubt set the tone for China ADR's here in the US and for us SOL in particular. An interesting news link;

http://www.iht.com/articles/2008/06/10/business/10marketsfw.php

Fundamentally nothing has changed, so our reasons for initiating the trade are still intact, however that said it must hold this key support zone, if it cannot we will exit the trade to preserve capital. We will introduce a safety exit strategy today.

Trading Plan:
HOLD SOL with Stop at $18.95

I just bought SOL at 19.45.

poli

Quote from: poli on June 10, 2008, 11:11:37 AM
I just bought SOL at 19.45.

poli

Well done Poli, I think you may have some good timing here

Update:

Although Solar and China and the market in general has been selling off. There is another factor at play with SOL and that is the recent announcement that SOL were to sell 8.15M shares to raise growth and expansion capital etc. Now we were aware of this prior to our SOL position (it was announced 30th May). The market showed no real negative reaction to the news at the time and Sol assumed their value at $24.35 for the purposes of income they would get. Based on their SEC filing they have not yet started selling the shares into the market as the registration does not yet have an effective date? I can't ascertain when that selling contribution will start, maybe it already has and the effective date will be filed retrospectively).

Attached you will find the SEC filing.

http://www.sec.gov/Archives/edgar/data/1417892/000119312508129626/df1a.htm

Anyway, we entered when we did for excellent technical reasons, now we must preserve capital with our stop.

Timing in the stock market is everything!

Trading Plan:

HOLD SOL with Stop at $18.95

Update:
A new supply contract was announced for SOL, see attached link:

http://www.istockanalyst.com/article/viewarticle+articleid_2278579~title_ARISE-Technologies-Signs.html

I said before timing is everything, sometimes timing is good other times not so good.  A combination of factors has made my SOL timing in the not so good category.

I fully expect a tiny bit of volatility will hit our stop, however I hope not.

The market will now decide.

Trading Plan:

HOLD SOL with Stop at $18.95

I think (and hope) the offering is already taking place and the 17th they will announce the pricing, if not and it still has to begin, there will be a lot more downside imo.
On yahoo there was some talk that 6mil shares of the offering were already sold ...



Renesola ignores challenging market to launch follow-on
By Anette Jönsson  |  11 June 2008 

http://www.financeasia.com/article.aspx?CIaNID=78008

SOL stopped @ $18.95

http://www.sec.gov/Archives/edgar/data/1417892/000119312508129626/df1a.htm

Oh man, I just found out that my stop limit order did not execute on TDAmeritrade.. Damn it. Now I am 30%+ in loss in this position. What a disaster! During the past month all I've been seeing is the consistent decline in my account value....

Quote from: berloga on June 12, 2008, 03:07:33 PM
Oh man, I just found out that my stop limit order did not execute on TDAmeritrade.. Damn it. Now I am 30%+ in loss in this position. What a disaster! During the past month all I've been seeing is the consistent decline in my account value....

Berloga, if you indeed had an order in with TD Ameritrade and you think it should have executed you should contact them to dispute the order. I had such an occasion a week or so back and had an order reinstated that should not have been transacted.

ReneSola Announces Pricing of Follow-On Public Offering on the New York Stock Exchange
Wednesday June 18, 6:22 am ET

JIASHAN, China, June 18 /Xinhua-PRNewswire-FirstCall/ -- ReneSola Ltd ('ReneSola' or the 'Company'), a leading global manufacturer of solar wafers, is pleased to announce further details of its follow-on public offering of American Depositary Shares ('ADSs') (the 'Offering').

Details of the Offering

A total of 9,000,000 ADSs, each representing two shares of the Company, are being sold in the Offering at a price of US$20.50 per ADS.

Of the ADSs to be sold in the Offering, 8,577,220 ADSs represent new shares being issued by ReneSola and 422,780 ADSs are being sold by certain selling shareholders (the 'Selling Shareholders'), including certain directors of the Company, further details of which are set out below. In addition, the underwriters have been granted a 30-day option to purchase up to 972,720 additional ADSs from ReneSola and an aggregate of 377,280 additional ADSs from the Selling Shareholders to cover over-allotments.

The Company's ADSs will be traded on the New York Stock Exchange under the ticker symbol 'SOL.' The ticker symbol of the Company's shares on the AIM market of the London Stock Exchange ('AIM') will remain 'SOLA.'

Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint book runners and Piper Jaffray & Co., Lazard Capital Markets LLC and Oppenheimer & Co. Inc. are acting as co-managers for the Offering.

The underwriters expect to deliver the ADSs to purchasers on or about 23 June 2008.

ReneSola's registration statement relating to the ADSs sold in the Offering has been declared effective by the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The Offering is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, New York 10010-3629, or by telephone at 1- 800-221-1037; or by contacting Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Floor 2, Jersey City, NJ 07311-3901, by telephone at 1-800-503-4611, or by e-mail at [email protected].

Separate from the Offering, the Company will issue 28,000 shares to Panjian Li, Chief Strategy Officer of ReneSola, following his notification of exercise of options. The shares resulting from the exercise will be converted into ADSs and sold in the Offering.

Application for admission to AIM has been made for the 17,182,440 new shares represented by the ADSs being sold by the Company and the new ADSs being sold by Panjian Li in the Offering. Admission is expected to take place on or about 24 June 2008, following the anticipated closing of the Offering on or about 23 June 2008.

On closing of the Offering, before any exercise of the over-allotment option, there will be 135,667,472 shares in issue.

I am still in and plan to be for awhile.

poli

Bullish on Chinese Alt-Energy SOL    
Posted Thu Jun 26, 02:10 pm ET
Posted By: Jon Kolb

Through its short history, China-based ReneSola, Ltd. (SOL), a manufacturer of solar wafers and related products, has regularly adapted to changing market dynamics. The company is aggressively ramping up its polysilicon and solar wafer production capacities.

Going forward, increased captive generation of polysilicon will improve its cost structure and enable wafer capacity expansions. Globally, rising solar wafer sales, along with escalating crude and long-term supply agreements, should collectively generate significant earnings growth.

Buoyed by these positive factors and impressive results, SOL increased its 2008 production output and sales guidance. Accordingly, with a predominantly bullish outlook and an attractive relative valuation, we initiate coverage of SOL with a Buy recommendation and a six-month target price of $24.25, representing 27.2% upside potential. SOL may be a great long-term investment.

SOL is on a fast track to growth and this is slated to continue as the solar power market has grown significantly over the past decade. According to Solarbuzz, an international solar energy research and consulting company, the annual solar power industry revenue may increase from $17.2 billion in 2007 to $39.5 billion in 2012.

The firm is ramping up its solar wafer production capacity and, in 2008, plans to nearly double its annual production of 2007. ReneSola plans to expand its wafer manufacturing capacity to 1,000 MW by year-end 2009. Accordingly, the company increased its previously issued 2008 production guidance to a range of 330 to 340 MW and 2008 sales guidance to a range of $570 to $590 million.

double bottom??
chart:

Anybody still in?

Trying to find out what happened here.

Had some ruff times and no time to pay attention to my stocks. Quite disasteres I most say...
But on the bright site, my little girl is okay 

Would love to hear. Did not think annual report was that bad.

Amarens

update:
1)
SOL: Oppenheimer Starts @ Sector Perform; Analyst Notes
Monday , June 30, 2008 08:15ET
Issuer: Renesola Ltd (NYSE: SOL)
Analyst Firm:  Oppenheimer
Ratings Action: INITIATE
Current Rating: Sector Perform
Analyst Comments: The firm is waiting for margins to reaccelerate before becoming more constructive on shares.

2)
Zacks Bull and Bear of the Day Highlights: ReneSola, Centennial Communications, Monster Worldwide, Sara Lee and Dow Chemical
Friday , June 27, 2008 06:00ET
CHICAGO, Jun 27, 2008 (BUSINESS WIRE) -- Zacks Equity Research highlights ReneSola, Ltd. (NYSE: SOL) as the Bull of the Day.Here is a synopsis of all five stocks:

Bull of the Day: ReneSola, Ltd. (NYSE: SOL)

Through its short history, ReneSola regularly adapted to changing market dynamics. The company is aggressively ramping up its polysilicon and solar wafer production capacities. Going forward, increased captive generation of polysilicon will improve its cost structure and enable wafer capacity expansions. Globally, rising solar wafer sales, along with escalating crude and long-term supply agreements, should collectively generate significant earnings growth. Buoyed by these positive factors and impressive results, SOL increased its 2008 production output and sales guidance. Accordingly, with a predominantly bullish outlook and an attractive relative valuation, we initiate coverage of SOL with a BUY recommendation and a six-month target price of $24.25, representing 27.2% upside potential.

3)
Solar Names Fall on Lower Spanish Subsidies
Tuesday , July 01, 2008 09:45ET

The Spanish Secretary of Energy proposed a lower than expected 300MW cap on annual solar installations and lower tariffs.  Credit Suisse said it would have to lower its EPS estimates which are based on a 750MW cap. Solar industry names are sharply lower at the market's open this morning. Shares of Canadian Solar (CSIQ), Emcore (EMKR -9%), Evergreen Solar (ESLR),  first Solar (FSLR), LDK Solar (LDK),  JA Solar (JASO),  Renesola (SOL), Solarfun Power (SOLF),  SunPower (SPWR) and Trina Solar (TSL) are down 4% or more.
Emcore annunced it agreed to sell 2,000,000 shares of Series D Preferred Stock of WorldWater & Solar Technologies Corporation (OTC Bulletin Board: WWAT.OB), together with 200,000 Warrants, to The Quercus Trust, a major shareholder of both EMCORE and WorldWater, at a price equal to $6.54 per share of the Series D Preferred Stock.

oversold chart: