Markets were in their merry way going UP celebrating 50 basis cut on all Fed rates...but just 6 minutes before close.....it was a coordinated profit taking.....which left Most indices in small RED... BUT NASDAQ making it 2 green in a row.....
Markets are in healthy mode...& these SWINGS are to be expected.......so buy the dips !!!!
FSLR beat Q3 estimates handily thanks to tax credit from German operation......they are confirming 09 estimates......which gave BOOST to all solar stocks......
Unemployment claims will take centre stage @ 830 AM......500,000 MAY be reached.....
US$ took a pounding by every currency including Canadian $ where I am LONG thus Shorting US$ ...which I had identified on Sunday post as OVERVALUED.....it was a hugely profitable trade today for me.....
After a long long time we had NEW 52 week high on both NYSE & NASDAQ....things are CHANGING !!!!
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hi Saleem,
What happened in the last few minutes? Someone dumping into the rally again I suppose. Oh well...I can't wait to see what the media will focus on after the elections. Depending on who wins, we will either be doomed or saved. I fully expect neither, it will be business as usual in D.C.
Have a bullish week.
I think 2008 bear market is over, and the bottom is in... its time to start slowly buying... what do you think?
Hi Standards,
Actually I feel pretty good about the market going forward....
Election will give BOOST to markets...cuntry needs to move beyond current malaise.
Saleem
Hi Troy,
Yes...the bottom was in on
Oct 10th....
Buy ETF instead of individual stocks.....great bargain there !!!
Saleem
Morning to all
Hurray looks like a GREEN day! I can not figure out the red close yesterday--Phew what a sell off! I guess marker still has lots of surprises left for us,.
I am long on OIL!!--The Arabs are going to cut more production off--put floor in on oil I can see $75 a barrel coming
APPL I went long too, In at $106.50 looking to $120 or higher before selling--SALEEM is correct look closely at FTE, QLD was awesome yesterday.
Peace to all
NEWS--SOLAR:
First Solar’s Profit, Sales Jump; U.S. Residential Market Is Next
Shares Soar 15% After Hours
Company slightly raises its revenue outlook for Q4, praising new tax-credit bill
BY DONNA HOWELL INVESTOR'S BUSINESS DAILY
Solar energy industry bellwether First Solar late Wednesday reported third-quarter profit that far exceeded analyst views, after earlier in the day announcing its first foray into the U.S. residential solar market.
First Solar’s FSLR revenue last quarter and revenue guidance for this quarter also exceeded analyst expectations, sending shares up more than 15% after hours, after the company released results.
Earlier in the day, word that First Solar will supply panels to homesolar firm SolarCity helped boost First Solar shares 1.5%. First Solar also said it will make a $25 million investment in SolarCity.
The company decided to partner with SolarCity after Congress this month extended solar-investment tax credits another eight years, as part of the $700 billion financial bailout package.
That action “created the longterm support to justify” work in the U.S. residential market, First Solar Chief Executive Mike Ahearn told IBD in an interview. “To have that visibility into a 30% tax credit is extremely meaningful.”
First Solar said it earned $1.20 per share for the third quarter ended Sept. 27, up from 49 cents, excluding a one-time tax benefit of 9 cents, in the year-earlier quarter. Revenue more than doubled to $348.7 million from $159 million.
Analysts polled by Thomson Reuters expected $1.01 per share on $339.3 million in revenue.
“Earnings were very strong,” said Pacific Crest analyst Mark Bachman. “I think First Solar is going to be able to weather whatever comes their way better than their peers.”
The company projected 2008 revenue of $1.22 billion to $1.24 billion, and, for 2009, $2.01 billion to $2.1 billion. Three months ago, First Solar projected 2008 revenue of $1.175 billion to $1.225 billion.
On Oct. 16, another industry leader, SunPower SPWRA , also beat analysts’ estimates in the face of economic head winds.
But solar stocks in general have been sliding since the summer. First Solar’s shares have plummeted 58% since Sept. 1, compared with a 27% decline for the S&P 500.
Analysts attribute some of the decline to falling oil prices. But analysts say the extended tax benefits in the U.S. will be a big help.
“This industry wants and needs the U.S. market to be the largest solar market in the world — and today it’s far from that,” said Paul Leming, an analyst associated with Soleil Securities.
The U.S. uses a quarter of the world’s energy overall, he says, but is just 8% to 10% of the solar market.
SolarCity, First Solar’s U.S. residential partner, leases to users about 2,000 home-solar systems in California and in the Phoenix and Portland, Ore., areas. With about $58 million in funding and via a taxrebate program with Morgan StanleyMS , the company promises residents that it can cut their power bills with no upfront investment needed.
Homeowners often find they can cut their energy costs by 20% to 30%, says SolarCity Chief Executive Lyndon Rive. But he says the company needed the less-costly solar gear provided by First Solar in order to bring about savings in locales where tax rebates are minimal and where conventional power is relatively cheap.
“First Solar . . . allows us to go into markets we haven’t been able to enter into before,” Rive said, adding that SolarCity is looking at East Coast deployments for 2009.
First Solar is most active in Europe, where nations such as Spain and Germany have led the way with tax incentives, but it has teamed with Southern California Edison on a rooftop project on a large commercial building in Fontana, Calif.
First Solar’s Ahearn says the company is still putting together a strategy to address the U.S. commercial rooftop market.
Utilities are ramping up their interest in solar power in the U.S., and that could become a big deal for the industry, says Jeff Osborne, an analyst with Thomas Weisel Partners.
With Congress now having extended tax credits, solar activity by utilities “is poised to explode,” Osborne said. The utilities “got what they wanted,” he said.
Solar panels are in some commercial sites, but also are residential. AP
NEWS--SOLAR:
First Solar’s Profit, Sales Jump; U.S. Residential Market Is Next
Shares Soar 15% After Hours
Company slightly raises its revenue outlook for Q4, praising new tax-credit bill
BY DONNA HOWELL INVESTOR'S BUSINESS DAILY
Solar energy industry bellwether First Solar late Wednesday reported third-quarter profit that far exceeded analyst views, after earlier in the day announcing its first foray into the U.S. residential solar market.
First Solar’s FSLR revenue last quarter and revenue guidance for this quarter also exceeded analyst expectations, sending shares up more than 15% after hours, after the company released results.
Earlier in the day, word that First Solar will supply panels to homesolar firm SolarCity helped boost First Solar shares 1.5%. First Solar also said it will make a $25 million investment in SolarCity.
The company decided to partner with SolarCity after Congress this month extended solar-investment tax credits another eight years, as part of the $700 billion financial bailout package.
That action “created the longterm support to justify” work in the U.S. residential market, First Solar Chief Executive Mike Ahearn told IBD in an interview. “To have that visibility into a 30% tax credit is extremely meaningful.”
First Solar said it earned $1.20 per share for the third quarter ended Sept. 27, up from 49 cents, excluding a one-time tax benefit of 9 cents, in the year-earlier quarter. Revenue more than doubled to $348.7 million from $159 million.
Analysts polled by Thomson Reuters expected $1.01 per share on $339.3 million in revenue.
“Earnings were very strong,” said Pacific Crest analyst Mark Bachman. “I think First Solar is going to be able to weather whatever comes their way better than their peers.”
The company projected 2008 revenue of $1.22 billion to $1.24 billion, and, for 2009, $2.01 billion to $2.1 billion. Three months ago, First Solar projected 2008 revenue of $1.175 billion to $1.225 billion.
On Oct. 16, another industry leader, SunPower SPWRA , also beat analysts’ estimates in the face of economic head winds.
But solar stocks in general have been sliding since the summer. First Solar’s shares have plummeted 58% since Sept. 1, compared with a 27% decline for the S&P 500.
Analysts attribute some of the decline to falling oil prices. But analysts say the extended tax benefits in the U.S. will be a big help.
“This industry wants and needs the U.S. market to be the largest solar market in the world — and today it’s far from that,” said Paul Leming, an analyst associated with Soleil Securities.
The U.S. uses a quarter of the world’s energy overall, he says, but is just 8% to 10% of the solar market.
SolarCity, First Solar’s U.S. residential partner, leases to users about 2,000 home-solar systems in California and in the Phoenix and Portland, Ore., areas. With about $58 million in funding and via a taxrebate program with Morgan StanleyMS , the company promises residents that it can cut their power bills with no upfront investment needed.
Homeowners often find they can cut their energy costs by 20% to 30%, says SolarCity Chief Executive Lyndon Rive. But he says the company needed the less-costly solar gear provided by First Solar in order to bring about savings in locales where tax rebates are minimal and where conventional power is relatively cheap.
“First Solar . . . allows us to go into markets we haven’t been able to enter into before,” Rive said, adding that SolarCity is looking at East Coast deployments for 2009.
First Solar is most active in Europe, where nations such as Spain and Germany have led the way with tax incentives, but it has teamed with Southern California Edison on a rooftop project on a large commercial building in Fontana, Calif.
First Solar’s Ahearn says the company is still putting together a strategy to address the U.S. commercial rooftop market.
Utilities are ramping up their interest in solar power in the U.S., and that could become a big deal for the industry, says Jeff Osborne, an analyst with Thomas Weisel Partners.
With Congress now having extended tax credits, solar activity by utilities “is poised to explode,” Osborne said. The utilities “got what they wanted,” he said.
Solar panels are in some commercial sites, but also are residential. AP
Hi Madmax,
Good luck with AAPL.....
Saleem
ALEEm
I am sorry about double posting sop sorry
AAPL is doing great today as is your RIMM
I expect great things from both.
WHa tis your take on this rally sell off coming or more up take yet to come?
VISA had decent earnings and look at it go hurray--I got 400 shares at its high go V
Hi Madmax,
RIMM is RED.....
Rally will hold...markets are on stable ground.
V is looking great alongwith AAPL.
Saleem
SALEEM
I am trying a training stop on my AAPL
What do you think of using them? I know the MM can manipulate the share price to take out all stops
But other than that what are the risks
Congraduations on your currency speculation
WOW gutsy and you have done this many times--wow
M
Hi Madmax,
You are better off daytrading than using stop.
AAPL is too volatile to use stop...
If you use stop you will sell @ loss....based on your cost.
Thanks for your comment on Short US$.
Saleem
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