Tuesday, November 4, 2008

Louis Navellier and CSIQ

Canadian Solar (CSIQ) is currently graded as A (Strong Buy) by Louis Navellier's Portfolio Grader Pro.

It is interesting to notice that it was a Strong Sell in November 2007 at $10 to $20, a Buy from December 2007 to March 2008 at (roughly) $20 to $30, and a Strong Buy from April to October 2008 from $20 to $50 to $10.

Nevertheless CSIQ entered Louis Navellier's Global Growth Sell List, while being a Strong Buy in Portfolio Grader Pro.

Let's start from May 19th, when CSIQ closed at $43.08 (guess! close to its highest price ever).

Louis Navellier added it to his Global Growth portfolio and the Buy Below price was $49.16.

One week later the Buy Below price was reduced to $44.49.

On June 2nd, it went up to $46.93, then to $42.55 and to $48.57.

On June 23rd the Buy Below skyrocketed to the crazy value of $54.

At that point the decline started...

June 30th: Price: $40.19 - Buy Below: $45.97

July 7th: Price: $33.50 - Buy Below: $38.30

July 14th: Price: $38.39 - Buy Below: $43.89

July 21st: Price: $31.98 - Buy Below: $36.56

July 28th: Price: $27.25 - Buy Below: $31.15

August 4th: Price: $27.04 - Buy Below: $31.20

August 11th: Price: $26.90 - Buy Below: $31.04

August 18th: Price: $27.50 - Buy Below: $31.73

August 25th: Price: $32.45 - Buy Below: $37.45

From September the real disaster started. CSIQ went down from $30 to less than $10.

The buy below price went down together with the stock price and on October 6th CSIQ entered the Global Growth Sell List, with a Sell Above price of $17.50.

I already wrote what I think of Sell Above prices, so I am not going to repeat it here.

No way for CSIQ to go above its Sell Above price.

The week after Mr. Navellier lowered the limit to 17.24. No luck.

On October 20th down to $16.70. No way.

On October 27th the Sell Above price was set at $10.49. He could have sold on October 6th at market for $11.25 (low) to $15.00 (high)...

Finally, on October 30th CSIQ reached its sell above limit.

Sold at $10.49. If you remember it was bought at $43.08 back in May.

The loss is 75%. Amazing!!!

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