Wednesday, September 10, 2008

Mr. Navellier and SOLF again

Some time ago, a reader posted a comment on which he said

"SOLF u didn't post his 50% gain almost u have to give him credit when he deserves"

Well, as you maybe remember the email spam Mr. Navellier sent about SOLF to double in 24 hours, you may have noticed that from that day (August 26th) not only SOLF did not double, but it went from $18.94 to $11.60 (that is a -38%).

This guy does not deserve your money.


Jen Katz said...

HI! I have been watching SOLF closely myself... the alt. energy sector seems to follow the price of oil. Since oil has been steadily on the the decline (and may decline further), the entire solar sector has followed. SOLF was in the $11 range yesterday, which I think is a bargain for a company with excellent fundamentals and a huge backlog.
Now... you know I love reading your blog, so I'm not trying to be contrary and I'm certainly not trying to turn your opinion on SOLF. But it's my observation that stocks like SOLF follow trends that are outside their company operations.
Then again, someone with Mr. Navellier's expertise should anticipate these "bumps in the road" and advise accordingly.
Thanks for the excellent blog!

Jen Katz said...

And soon as I finished typing my last comment, I read this bloomberg article:

Saudis are reducing their output of oil from 900,000 to 500,000. Less supply, more demand, and the price will go back up. SOLF may actually be a buy today. We shall see.

On a personal note, I have to admit I'm relieved. I hold BP, CSIQ, and ESLR, and have been taking a serious beating. I know this is a REALLY unpopular thing to say, but I think the price of oil *should* stay in the $100-range. It's the only way to get the masses thinking of alternatives.

S said...

The thing that does not convince me is that solar technology is becoming a commodity.
Every 2 years double volumes but also half price.
Price war is dangerous and can limit profits for solar players... regardless of oil. IMHO of course.

Jen Katz said...

Yes... I agree with you "s". Many factors dictate solar's profitability - not just the price of oil. The price of silicon, government subsidies for alt. energy use, constantly updated technology... Which is why I don't hold solar long, not that I've had a choice lately. ;) I look for opportunities to swing trade on solar. Did really well on CSIQ, but stupidly didn't close my entire position (live and learn). Hoping to get to do that today.

JenSaysThis said...

Oh well... so much for THAT theory. I give up.