Oil drops, Solar Stocks Follow

With Crude Oil on its 3rd consecutive day drop, Solar Stocks keep following the Commodity, losing from -5% to -10% on most Solar Stocks.

Some examples for today:

Energy Conversion Devices, Inc. (ENER) -8%
First Solar, Inc. (FSLR) -5%
Suntech Power Holdings Co., Ltd. (STP) -9%
Canadian Solar Inc. (CSIQ) -10%


The Solar Stock ETF of reference, Claymore/MAC Global Solar Index , is down almost 7%



Keep away from Solar Stocks for a couple of days, we might get some opportunities by the end of the week. If your Short, keep those profits running.

Labels: Bearish, Canadian Solar Inc., CSIQ, ENER, First Solar Inc, FSLR, solar ETF, Solar Stocks, STP, Suntech Power, TAN

posted by Ertai at 1:02 PM