Solar Corrections

The indexes made new lows this month, this time with solar stocks going deep into the red, mainly because of the selling pressure of the global markets as well as the recent Crude Oil correction from historical highs, and the new Solar Tax changes in the U.S.

The crude oil price is very correlated to the solar stocks sector, and while the market is not bullish on the short term, the mid to long term hasn't changed.

FSLR lead the losses with -14% just for the day.
Other solar stock movement for the day:
LDK -13,66%
CSIQ -10%
STP -8,78%

The newcomers, Solar Fun (SOLF) and Trina Solar(TSL), were both loosing -17% ahead of the whole group.

And the recent headlines for SunTech Power(STP) and the Solar Tax in USA:
Suntech Supplies Solar Modules to 3MW Project for Leading South Korean Power Company

Solar Stocks Tumble On Reports Solar Investment Tax Credits Could Be Left Out Of Energy Bill

Labels: CSIQ, FSLR, LDK, Solar Stocks, SOLF, STP, TSL

posted by IntoBlogs at 6:41 PM