SOL

[BigSully1]

New Chinese solar IPO

[BigSully1]

update

[BigSully1]

big mover

[AussieTrader]

Hey BigSully1, how's it going?

I am looking to position into Solar again and have SOL and LDK as my probables.

Solar is looking strong again and many charts are shaping up nicely, lots of earnings coming out in the next few days as well.

SOL is about to break into new highs again and LDK seems to be setting up a nice recovery.

Thanks for highlighting SOL, hopefully you have some?

[BigSully1]

I'm doing well Aussie, how's things down under?

I only hold a token amount of SOL, I'm usually overly cautious on recent IPO's until they "prove" themselves, usually with at least 2 public ER's before I get in very deep.

But the last ER looked excellent, current ER to be released next Wed. I probably won't add very much, if any, until I see it. You just might convince me otherwise, though.

[AussieTrader]

Good thanks BigSully,

I fully appreciate your risk aversion when it comes to new issues. I took a position in SOL Wednesday, my entry was pre the breakout line identified on my chigh chart as I had a high degree of confidence that the pattern and close support were providing a safe entry.
This is a play before earnings, and as BigSully mentions SOL is new and 'unproven' in terms of delivering the goods.
That said Oil at $125 a barrel certainly helps the alternative energy plays. Friday was a nice pre-earns breakout to new highs. Buying stocks breaking to new highs means you are basically buying strength and leadership.
On my chart I have drawn an ascending channel, if my analysis is correct I anticipate SOL to breakout above the upper chanel 'resistance' line following earnings and continue it's movement using that line as the new ascending support.
I have a stop sitting just below the ascending support line, if that hypothesis proves incorrect.

[AussieTrader]

SOL announce results before the open today. Stock has moved nicely to breakout with volume, Solars led the action today with CSIQ results and positive guidance. I have moved my stop to breakeven point (my entry being $18.18). My plan remains the same.

Pre Market Update:
Results are good and guidance strong. Management seem to have a good strategy with regard to securing long term silicon supply both external and from  a currently being built new facility. I am liking the way SOL management are  delivering.

Results link:
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-14-2008/0004813158&EDATE=

Financial and Business Highlights

    -- First quarter 2008 net revenues were US$123.0 million, an increase of
       242.4% from US$35.9 million in the first quarter of 2007, and an
       increase of 28.0% from US$96.0 million in the fourth quarter of 2007.

    -- First quarter 2008 gross margin was 22.1% compared to 20.4% in the
       fourth quarter of 2007.

    -- First quarter 2008 net income was US$17.7 million, an increase of
       160.6% from US$6.8million in the first quarter of 2007, and an increase
       of 1.2% from US$17.5 million in the fourth quarter of 2007.

    -- First quarter 2008 basic and diluted earnings per share were US$0.15
       and US$0.14, respectively, and basic and diluted earnings per ADS were
       US$0.30 and US$0.28, respectively. Each ADS represents two shares.

    -- First quarter production output was 66.5 MW, an increase of 29.6% from
       51.3 MW in the fourth quarter of 2007, exceeding previously issued
       guidance of 62 MW.

    -- Silicon consumption rate decreased to 6.3 grams per watt in the first
       quarter of 2008 from 6.5 grams per watt in the fourth quarter of 2007.

    -- Wafer production capacity is planned to increase to 1,000 MW by the end
       of 2009.

[AussieTrader]

Strong reaction to earnings on record volume. Afternoon profit taking (as with most movers yesterday) pulled the price back from the gap up open. A positive to take from that is there is no gap left to fill from that open.

I am still anticipating SOL to move onwards and probabably in the range of the new channel I have on the chart depicted by the Blue and red ascending lines. It hit resistance in the shape of the upper (red) channel and wasn't able to hold up there.

[AussieTrader]

I am still anticipating SOL to move onwards and probabably in the range of the new channel I have on the chart depicted by the Blue and red ascending lines. It hit resistance in the shape of the upper (red) channel and wasn't able to hold up there.

Market is rewarding the actions of SOL management. Huge gain today the attached articles will help explain why 

Piper Upgrade to $40: http://www.streetinsider.com/Analyst+Comments/Piper+Jaffray+Boosts+Price+Target+on+ReneSola+(SOL)+To+A+%22Street+High%22+$40Share+After+Strong+Results/3648224.html

New contract: http://www.greentechmedia.com/press-releases/renesola-announces-six-year-525-mw-solar-wafer-supply-agreement-with-gintech-energy-corporation-902.html

Motley Fool Solar article: http://www.fool.com/investing/high-growth/2008/05/14/renesolas-in-wafer-wonderland.aspx

[AussieTrader]

I now have 3 Solar stocks in play - SOL, LDK and SOLF. My positions and comments regarding SOLF and LDK are in the premium portion of our site, so, if you like the SOL play and don't have Premium access then consider subscribing to see what's going on 
One of our plans here at 3Stocks is to continue to expand the portfolio choice and value added content available in the Premium area, expect to see more detail on that in the near future.

SOL is hopefully setting up a nice conSOLidation in the upper area of my ascending channel (black and red lines). Ideally that consolidation will be more by time than price i.e. volume shrinks and price pulls back gently (relatively) over a few days as traders digest the previous upward momentum and more people get SOL on their radar. That action then establishes the best setting for continuation patterns to emerge.

[AussieTrader]

My SOL strategy remains unchanged for now.

[AussieTrader]

SOL is hopefully setting up a nice conSOLidation in the upper area of my ascending channel (black and red lines). Ideally that consolidation will be more by time than price i.e. volume shrinks and price pulls back gently (relatively) over a few days as traders digest the previous upward momentum and more people get SOL on their radar. That action then establishes the best setting for continuation patterns to emerge.

SOL gave back 5%+ but volume has shrunk and the ascending red channel line uncannily is providing support. I am totally OK with this price action, it is in line with my plan and I accept that this stock has a high volativity (as do most of the Solars right now).

[AussieTrader]

$40 seems to be the target for SOL based on recent Piper reiteration of targets. Seems they met with SOL in China and think Q2 has upside potential relative to current expectations

http://www.streetinsider.com/Analyst+Comments/Piper+Jaffray+Reiterates+Bullish+Stance+on+ReneSola+(SOL)+Following+Recent+Visit/3688444.html

Technically SOL found support around the highs of May13th breakout day (my black channel) and reversed upwards strongly.

I found but then lost an interesting article comparing and contrasting SOL with CSIQ, showing recent Qtr numbers to be very similar (profit, margins, EPS, valuation etc) I will re-dig that out and look into it in more detail.

I am still very bullish on SOL and like the way the stock is acting in the upper regions of this channel.

[Ramsburg]

Profile:
ReneSola Ltd. (ReneSola) is a manufacturer of solar wafers, which are thin sheets of crystalline silicon material primarily used in the production of solar cells. The Company and its subsidiaries are engaged in the manufacture and sale of solar wafers and related products, which are integrated into photovoltaic cells, the principal component of crystalline solar panels. ReneSola offers monocrystalline wafers in sizes of 125 millimeter by 125 millimeter with a thickness of 200 microns and 156 millimeter by 156 millimeter with the same thickness at customers' requests, which are two of the standard specifications used by most solar cell manufacturers. The Company began the production of 156 millimeter by 156 millimeter multicrystalline wafers with a thickness of 220 microns in 2007. Its customers include global manufacturers of solar cells and modules, such as JA Solar Co., Ltd., Motech Industries Inc., Solarfun Power Holding Ltd., Suntech Power Co. Ltd. and Topco Technologies Corp
Market Cap: $1.45B
Sector: Technology
Website: www.renesola.com


Trading Idea:

Technical Analysis:
SOL is a recent IPO which has been in an excellent ascending trend since making lows around $8 in March.  Volatility and volume has increased sharply since Q1 results were announced which led to a channel breakout followed by volatile, but controlled consolidation. The most recent sessions have formed an ascending triangle ripe for breakout and continuation of the trend.

Fundamentals:
The Q1 results were strong and above expectations. SOL management seems to be executing with precision and good strategy to maximize growth and profit.

Q1 results:
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-14-2008/0004813158&EDATE=

Financial and Business Highlights

   -- First quarter 2008 net revenues were US$123.0 million, an increase of
      242.4% from US$35.9 million in the first quarter of 2007, and an
      increase of 28.0% from US$96.0 million in the fourth quarter of 2007.

   -- First quarter 2008 gross margin was 22.1% compared to 20.4% in the
      fourth quarter of 2007.

   -- First quarter 2008 net income was US$17.7 million, an increase of
      160.6% from US$6.8million in the first quarter of 2007, and an increase
      of 1.2% from US$17.5 million in the fourth quarter of 2007.

   -- First quarter 2008 basic and diluted earnings per share were US$0.15
      and US$0.14, respectively, and basic and diluted earnings per ADS were
      US$0.30 and US$0.28, respectively. Each ADS represents two shares.

   -- First quarter production output was 66.5 MW, an increase of 29.6% from
      51.3 MW in the fourth quarter of 2007, exceeding previously issued
      guidance of 62 MW.

   -- Silicon consumption rate decreased to 6.3 grams per watt in the first
      quarter of 2008 from 6.5 grams per watt in the fourth quarter of 2007.

   -- Wafer production capacity is planned to increase to 1,000 MW by the end
      of 2009.

Piper Jaffrey have a $40 price target for SOL and from recent meetings reiterated that guidance with positive Q2 upside potential.

http://www.streetinsider.com/Analyst+Comments/Piper+Jaffray+Reiterates+Bullish+Stance+on+ReneSola+(SOL)+Following+Recent+Visit/3688444.html

As with most Solar stocks we have high growth possibilities combined with high volatility, we need to be prepared for volatility to ensure we allow this trade to work for us. A profit target and stop will be updated at the next session.

Trading Plan:
Buy SOL at or around the open


Trading Plan:
Buy SOL at or near the open

[Se7en]

Which Solar Stocks Will Continue To Shine?

about stocks:  CSIQ / FSLR / JASO / LDK / SOL / SOLF / SPWR / STP / TSL / YGE

http://seekingalpha.com/article/80423-which-solar-stocks-will-continue-to-shine?source=yahoo