Dow’s best 4-week spike since ’33…
TheDow Jones Industrial Average just finished its best four-week streaksince 1933. The Dow opened Monday, March 9 at 6626.95 then marched onto a stellar climb to 8017.19 at the end of trading today–a gaudy gainof 1390.24 points or 21%. The tech-concentrated NASDAQ grew from1293.85 to 1621.87 points, 25.35% up. However, the 20SSI have to takethe prize having gained 56.10% net combined since March 9.
GTSolar was the biggest gainer in solar gaining $2.50 a share for theweek, over a 40% gain. SunTech, SatCon and Canadian Solar also had agood week of trading. It’s disturbing mainstream media is eitheroblivious or doesn’t want pick up on solar’s thrust in the market.Three stocks, MEMC, Satcon and Trina Solar, exceeded their January 5starts. For comparison’s sake it would be timely to analyze the rise ofthe stocks in this index against the rapid demise of Chrysler and GM.Oh how the mighty have fallen.Investors seem to betting on aneconomic rebound and technology stocks despite grim employment reports.Some 663,000 jobs were lost in March nationwide for a total of 5.1million since the recession began about 14 months ago. Reportedunemployment jumped to 8.5% well exceeded the 8.1% projection.
Incentivesfor solar power installations and low panel prices plus the onset ofspring is bolstering the PV industry. Just like housing, it’s a greatto time go solar if you have the cash or the credit. Signs of banksopening up are showing and this helps. Furthermore, one thing’s forsure, utilities will raise rates if and when they can.
Week of March 30-April 3, 2009
|Monday Open||Friday Close||Up/Down||% Change||Close 1/5/09|
|Dow Jones DJIA||7776.18||8017.59||+241.41||+3.10%||8952.89|
|Akeena Solar AKNS||1.11||1.19||+.08||+7.20||2.28|
|Amtel Systems ASYS||3.46||3.27||-.19||-5.50||4.00|
|Applied Materials AMAT||11.23||11.81||+.58||+5.16||10.67|
|Canadian Solar CSIQ||5.76||6.73||+.97||+16.84||7.00|
|ECD (UniSolar) ENER||13.23||15.77||+2.54||+19.191||29.33|
|Entech Solar ENSL.OB||+.32||.245||-.075||-23.44||.28|
|Evergreen Solar ESLR||2.33||2.20||-.13||-5.58||3.60|
|First Solar FSLR||147.36||134.38||-12.98||-8.81||157.80|
|GT Solar Int. SOLR||4.22||6.72||+2.50||+40.76||4.00|
|JA Solar JASO||3.93||3.47||-.46||-11.71||5.09|
|LDK Solar LDK||7.19||6.99||-.20||-2.79||14.84|
|MEMC Elect. WFR||18.38||18.69||+.31||+1.68||15.76|
|Trina Solar TSL||12.33||11.15||-1.18||-9.58||10.09|
|Percent change all 20 stocks this week:||+1.85%|
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