Showing posts with label Solar and Alternative Energy. Show all posts
Showing posts with label Solar and Alternative Energy. Show all posts

Solar and Alternative Energy Stocks

The alternative energy sector is continuing to perform well. I found a couple small companies with good charts that I like. Primarily I like the charts. Jinko Solar (JKS) is one of the solars I posted on Twitter awhile back and it ran 17% today on good volume.

The first new one is Ballard Power Systems (BLDP) with a market cap of around 200 million. BLDP sells fuel cells which is a very promising alternative energy. The stock price just broke out of a triangle consolidation.

The second one I like is Suntech Power (STP). STP is a 250 million dollar company that also just broke out of a long triangle. Both of these stocks look ready to keep running.

Solar Stocks Play

Solar stocks are continuing to deliver big returns lately. One way to invest in the solar sector is Market Vectors Solar Energy ETF (KWT) or the Guggenheim ETF (TAN). The Guggenheim TAN is more overweight First Solar FSLR and it's price fluctuates more in lockstep with the stock. I like KWT more because it's not so heavily invested in FSLR. I wouldn't be surprised to see more double digit returns from solar as a sector this year. Technically, the charts on solar as a sector look very bullish here. See the picture below. I see a lot more upside. Of course, with big run-ups in all solar stocks across the board some stocks not so worthy of such high multiples will eventually fade out. I remember the big run in solar around 2007 and 2008 and the ridiculous multiples pegged on even the best companies. Some of the PE ratios were totally insane like Nasdaq bubble of the year 2000 insane and of course they eventually came down to reality. I'll be looking for some good shorts eventually after the momentum continues. The momentum is going to continue for awhile though.