Still Interested in Chinese Solar

Yeah, I know, solar and alternative energy stocks in general are not very sexy right now with all of the recessionary influences on this ‘pricey’ substitute to the status quo.  But, I still think solar is attractive beyond its positive environmental impact.   Chinese solar stocks in particular have captured my attention of late.

One would think with all of the negative articles surrounding the solar industry that it would be the last place you would want to put your money.  We have been, after all, in a recession all year and oil prices are WAAAY off their 2008 highs.  To the contrary.. Chinese solar stocks have been, in most part, very profitable. Check out the below chart of STP.   TSL has shot up 215% YTD,  and SOLF up 50%.

So why are Chinese solar stocks catching my attention?  Especially after not-so-hot earnings last week from SOL and JASO?
(more…)

Tags: CSIQ, FSLR, JASO, LDK, SOL, SOLF, STP, TSL, YGE

Solar on Fire

As we all know, solar stocks took off after a wonderful earnings announcement from $SPWRA on Thursday. So, what’s next?

This week will continue to prove interesting for solar stocks as the powerhouse $FSLR gets set to report earnings on Thursday ($ESLR reports, too).  A good report will obviously add fuel to the bull move, but a bad report could do quite the opposite. My plan is to be ready for either outcome. I will also focus attention on scalps between now and then, but I  anticipate a bullish sentiment unless the overall market reverses and pulls solars down.

Now to decide which solar stocks to play..

(more…)

Tags: CSIQ, CSUN, DSTI, EMKR, ENER, ESLR, JASO, LDK, SPWRA, STP, TSL, YGE

Solar Burned Out?

I haven’t been following solar much lately and I think that is a mistake.  We’re going to be talking about alternative energy for years to come and there will likely be good money to be had here.  For tonight, I’m going to take a quick look at some of the more interesting charts. Click on the ticker for my thoughts and annotated chart.  One theme that will stand out is that most are approaching strong levels of resistance.  My gut –  solar down first part of the week (hope I’m wrong).

• ESLR
• YGE
• JASO
• STP  - very strong since March. I think over bought temporarily and at resistance level – worth watching.
• CSIQ
• FSLR 

Tags: CSIQ, ESLR, FSLR, JASO, STP, YGE

Solar Sunday

As expected, the sun was shining on SPWRA Friday.  With gains over 23% before settling 17% up, SPWRA was a becon of light on what was an overall down Friday. Dispite the massive volume move, the chart actually shows more upside potential. RSI2 has room to grow and the MACD is just now toying with a crossover.

My Play SPWRA

• Swing Trade – Entry $31.77  Stop $30.  Looking for support on EMA13 with $45 target.  Holding as long as EMA13 holds as support.
• Day Trade – not interested here

My Play YGE

• I mentioned on Friday that numerous solar stocks were setup for long swing traders… well, here is a good example.  I like YGE. In fact, I  think I like it more than SPWRA. I’m looking at a possible entry at $5.75 if volume supports.  Swing trade to $7.5 target.

My Play FSLR

• Chart looks pretty good for a February bull move here. Consolidating into a symmetrical triangle (if you use your imagination) with volume looking coiled and ready to pop.  Swing entry on EMA13 with $160 first target and $180 second.

Charts I’m not too impressed with right now, but could still move if the industry finds some love (breakout instead of momentum, as above):

• JASO, SOL, ESLR, CSIQ

Tags: CSIQ, ESLR, FSLR, JASO, SOL, SPWRA, YGE

A Friday Solar Trade?

SPWRA had a great earnings report after the bell pushing it up over 11% in after hours trading.

OK, now what? Will this good news give solar legs tomorrow? Solar continues to have bullish swing setups, but repeatedly stalls and falls backwards.  Having said that, most of the players are up after hours as they tag along with the good news – but I would be careful Friday.

There is a good chance that we will have a gap open in all of the names I follow - FSLR, JASO, CSIQ, ESLR, and SPWRA.  For me, this is not when to enter the trade.  It is important to see where the top of the morning run ends up.  Once they start moving sideways, I will day trade long only if the market is strong or trending up.  If VIX starts to go down and the market continues strong through lunch, I’ll likely take a very short term scalp on a pull back buy.

However, if the market is down, then I think the high of the day for these stocks will be the open and I’m not interested.

Tags: CSIQ, ESLR, FSLR, JASO, SPWRA