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Tax loss selling.
I guess it makes sense that some is going on now and that it will probably increase as the month goes along.
Any thoughts on how big of a impact it will have on the share price?
Gentle?!?! You want gentle?!?!?!
OK. Welcome aboard! LOL!
Looks like it's headed back sub $1.
Why no share buyback?
At these prices, I would think the company would announce a share buy back plan. They're loaded with cash, supposedly.
I guess the TARP announcement by the end of the month was another Layton BS announcement. He has quickly lost all credibility with me.
Good for you!
In this market you have to sell on moves like this in one day on no news.
Personally, that ride to $1.55 was gut wrenching. I originally entered that GTC at $2.80 1 day too late. A modest profit quickly evaporated into a horrific loss. I had way to much money in this one after I averaged down at $2.05 originally.
I'm now happily on the sidelines with my modest profit and my grub stake is back in the bank.
Whew!!!!!
I took $2.89
Good luck all!
Oh heck yeah!!!!!!
I guess I was really wrong about those 25 million shares - LOL!
WOW!
I have real mixed feelings about it.
Next week is turkey day and typically small beat up junk like JASO do well then with the lower volume.
We'll see.
I have a GTC sell in at $2.80
That gets me out with a small profit after averaging down. I'd like to sit that cash out of the market for a while.
Suzy doesn't like the heat and she's looking to get out of the kitchen - LOL!
Nope.
I assume most of those shares are already shorted against the box for the shares they will be receiving. That's pretty standard procedure.
Now this is more like it!
Yeah, that worked out OK.
I'm not even quite yet but I'm close.
Well, we'll see how nice it is - LOL!
I got some at $2.05!
Unbelieveable.
Have two for me!!
I just bought some at $1.51.
I couldn't resist - LOL!
It's getting killed pre-market.
100 million Lehman loss.
Ugh.
She's almost back to $1.70!
A very nice performance on a dreary day for the markets.
Because the quarterly results are tomorrow morning.
Seems not many people are taking any chances ahead of the numbers.
Just picked some up at $3.59
I hope it's going lower but I wanted to make sure I had some at this level.
Solar downgrade today. FYI.
NEWS Solar Downgrades 42 minutes ago November 10, 2008, 10:29 am
CSIQ, ENER, FSLR, SPWR: Deutsche Bank Downgrades
Posted by Eric Savitz
In the latest sign that that the Street has become concerned about the near-term outlook for the solar sector, Deutsche Bank analyst Steve O’Rourke this morning cut his ratings on Canadian Solar (CSIQ), Energy Conversion Devices (ENER), First Solar (FSLR) and SunPower (SPWRA) to Hold from Buy.
He cites some of the same issues other analysts have recently noted in turning more cautious on the group:
Rising cost of capital. He calculates that a 1% increase in the cost of capital for a commercial scale project would require a 7% reduction in system price to maintain constant ROI.
Reduced access to capital. Projects which require third-party financing are at risk of being delayed or canceled.
Declining fossil fuel costs pushes out grid parity.
Worsening 2009 macro environment could cause some governments to reassess solar incentive programs.
Strengthening of the dollar against the Euro.
Significant module price declines likely in 2009. He sees ASPs down 22%-30%.
“While there were arguably better spots to step out of solar PV company stocks earlier in the fall, several factors…have helped spur appreciation in some names off of recent lows,” he writes. “We were lax to step out of solar PV stocks anticipating an Obama win in early November, and while timing may not be perfect, we believe appropriate positioning for [the first half of 2009] would be reduced exposure to the group.”
His new price targets for the downgraded stocks:
Canadian Solar: $12, down from $36.
Energy Conversion Devices: $41, down from $75.
First Solar: $160, down from $200.
SunPower: $45, down from $62.
In today’s trading:
Canadian Solar is up 12 cents, or 1.4%, to $8.53.
Energy Conversion Devices is down $2.31, or 6%, to $35.78.
First Solar is down $5.68, or 4%, to $143.99.
SunPower is down 27 cents, or 0.8%, to $33.59.
Earlier: ENER: FY Q1 EPS Tops Ests; But Stock Tumbles
It blew right through $4.
If it doesn't hold right here then it may make another run at the recent lows.
I'm very tempted to jump in with some right now.
E*TRADE FINANCIAL Comments on Capital Protection Program
Friday November 7, 1:45 pm ET
NEW YORK--(BUSINESS WIRE)--E*TRADE FINANCIAL Corporation (NASDAQ: ETFC - News) today provided an update concerning its application to receive funding pursuant to the U.S. Treasury’s TARP Capital Purchase Program. The Company confirmed that it filed its application to receive $800 million of funding. It is currently being reviewed by the Office of Thrift Supervision, the Company’s primary regulator.
“We remain optimistic that we will receive approval and expect to make an announcement this month,” said Donald H. Layton, Chairman and CEO, E*TRADE FINANCIAL Corporation.
And there it is!
U.S. Oct. nonfarm payrollls fall 240,000 vs 210,000 expected
U.S. Oct. unemployment rate rises to 6.5%, 14-year high
U.S. 2008 payrolls fall by 1.18 milllion jobs
but the **BIG** story is:
U.S. Sept. nonfarm payrolls revised to 284,000 loss
That downward September revision is huge!
OMG!!!!
A Moodys downgrade is a real one. That's not an analyst, that's a credit rating bureau.
I wondered why it was tanking so bad afterhours.
I'll be staying out till this one blows over.
Best of luck guys and gals!
Someone bought 5k at $5.50 right before 8AM
That's an ouchie!
Gotta learn how to fill in those premarket orders properly - LOL!
Buy back around $4?
I was perusing the charts and there isn't much info down here. The only pertinent gap was filled today. There's really nothing I could see to suggest support above the previous low at $3.50 except that $4 is a big round number.
What do you guys think?
Alot depends on the jobs report Friday.
I heard a interesting guy on the radio who was speculating that Bush has been keeping his thumb on the scales of some of the economic reports for the past couple months in order to make them look better to help Republicans with the election.
It reads like this guy is a whack job but he laid out a decent case for his claim and it was reasonably convincing.
So, if true, and the Democrats cleaned house obviously last night, he was speculating that the next two months of data would be much worse than expected due to removal of the thumb.
Nothing would surprise me any more - LOL!
Enjoy your short squeeze!
why thanks pamo!
I'm all set to buy as soon as it gets back near $1.50.
I couldn't take it anymore.
Settled for $1.93
I'm back mostly cash now waiting to see what the post-election trauma does to the market.
Good luck guys & pamo!
Now we're talking!
Go baby go!
I'm going to book that!
And call it a day and wait to see what happens after the election.
That was a fantastic 4 days.
Good luck guys!
Up 18% now!!!!!!!
I know I'm having fun.
OT: rambob
So did they put any restrictions on you as a pattern day trader? Has it limited your ability to trade?
I am constantly running up against that 3 day trade per week rule and if it's no big deal I may join you.
Morning rambob!
Etrade is kinda stinking up the place again this week. I'm holding what I have for now but I'm really glad I grabbed a chunk of my favorite solar stock last week too.
The hard part is having ones money in the right stuff at the right time.
If ETrade continues to under perform I'm going to have to put it back on the watchlist and put that money to work elsewhere.
It isn't over yet!
Up another 10% premarket.
She woke up in a bad mood.
Next time let her sleep - LOL!
Hi Rich,
The big thing to watch out for this week is the Friday jobs report.
In a perfect world we would get nice up movement to $2+ where I will probably sit out and see what the jobs report says.
I was attacked by a herd of ghouls.
Friday was just a frightful day - LOL!
ETrade is climbing its way back up. That is most excellent!
And more importantly, the market seems to be in a better mood.
Hopefully this week we can get back over $2.