Tuesday November 4, 2008
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The possibility that Barack Obama could win the election is giving a boost to the stock market in general, but solar stocks are having a field day.

The group is rising on the theory that an Obama presidency would be more favorable to the solar industry, which is dependent on clean energy tax breaks from congress to encourage end users  to invest in solar.

Some of the movers within the group are Solarfun (SOLF) - $9.25 +$1.01, Yingli Green Energy (YGE) $7.29 +$1.03 and Canadian Solar (CSIQ) $12.54 +$1.65.

We are seeing over 12% move in all these stocks. However, it should be noted that like most stocks out there, they have been severely beaten down from the levels they were trading at back in the summer.

Tags: Solar Stocks  Canadian Solar  Yingli Green Energy  Solarfun

Solar stocks rallied on Wednesday 09/24/08, after the U.S. Senate on Tuesday, approved an energy bill that could benefit solar companies and expand the U.S. solar market. While the bill still has to get approved by the House of Representatives, President Bush has indicated he will support the bill.

One of the solar stocks that showed action on Wednesday, was Energy COnversion Devices (ENER). The stock opened at $63.44 from Tuesday’s close of $56.46, reached an intraday high of $66.30 and ended the day up $7.33, to close at $63.79.

We are looking for the stock to trend up to the $70 level and if the house approves the bill, which could happen over the next two weeks, we could even see the stock higher than that.

Tags: Energy Conversion Devices  Solar Stocks