8/3/2010 gameplan & solars LiST

Morning folks…futures are gapping down just slightly .23% or so.  Commodities still strong. OIL and Gas holding up both gapping up .5% or so.  Yesterdays action was nice. Its not the best day to trade as teh gap up left us with little upside but we still managed to eke out some good trades and also to raise a bit of cash for new trades.  The market is in a shorterm uptrend.  The dips in the market are getting bought. Our “tell” was teh gdp day. We gapped down and instead of rolling over traders bought the dip.  If i were to guess I think that might happen till at least friday when the jobs report comes out. So today that will be my mentaility. If we gap down…Im going to be buying stocks.
$solf reported knockout earnings.  The chart has broken out premarket. This might be a good play if it can dip in the low 11s.  Earnings were pretty good for a solar company especially a chinese solar company.  A couple years ago SOLF was the red heated step child of the chinese solars


  • Total net revenues were RMB 1,752.7 million (US$258.5 million), an increase of 18.8% from 1Q10 and an increase of 105% from 2Q09.
  • PV module shipments, including module processing services, reached 204.6 MW, an increase from 150.6 MW in 1Q10 and from 64.3 MW in 2Q09.
  • Average selling price (“ASP”), excluding module processing services, declined by 6.8% to RMB 11.19 per watt (US$1.65) from RMB 12.01 per watt in 1Q10.
  • Gross profit increased 35.4% quarter-over-quarter to RMB 368.8 million (US$ 54.4 million) from RMB 272.5 million in 1Q10.  
  • Despite the decline in ASP, gross margin increased to 21.0% from 18.5% in 1Q10, primarily due to a continued reduction in manufacturing costs.
  • Despite the continued volatility in the currency market between Euro and RMB , the Company recorded a net currency gain of RMB 15.1 million (US$ 2.2 million).
  • Net income attributable to shareholders on a GAAP basis was RMB 272.8 million (US$ 40.2 million), an increase of 96.4% from RMB 138.9 million in 1Q10.  
  • Net income attributable to shareholders on a non-GAAP basis(1) was RMB 231.7 million (US$ 34.2 million), an increase of 46.5% from RMB 158.1 million in 1Q10.  
  • Net income per basic ADS on a GAAP basis was RMB 4.71 (US$ 0.69), an increase of 96.2% from the previous quarter.
  • Net income per basic ADS on a non-GAAP basis was RMB 4.00 (US$ 0.59), an increase of 46.5% from the previous quarter.
  • Annualized ROE on a non-GAAP basis significantly improved to 35.9% in 2Q10 from 26.6% in 1Q10 and negative 38.3% in 2Q09.
  • The Company generated RMB 417.5 million (US$ 61.6 million) in cash from operating activities during the quarter.



This could cut loose some of the other solars 

CSUN a break of 4.55 or so should set it off.
LDK looking good in that 6.8-7.00 range with stop under support
 Ener looks good right here. stop at the 4.70 range for swingtraders or you keep a real tight stop at yesterdays low.



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