Tuesday, May 20, 2008

ReneSola IBD #5

If you were paying attention a few months ago I mentioned this stock SOL
at its IPO. Unfortunately I dropped the bubble on tracking it as I was
preparing to buy Visa and like most people spending my time researching
its potential.

So SOL is now up almost 400% in a few short months. How far can it go,
another First Solar (FSLR)? I am not sure but I am starting to spend
more time researching it. Currently it is in very good favor as it is
IBD's #5 pick in the IBD top 100. It recently secured a five year
contract for polysilicon which is required to make solar wafers. This
has always been a sticking point in the "raw materials" required for
solar stocks. Their earnings were amazing and I did try to put a limit
in for 23.30 but my block never got touched and it has been driving
higher since. I am looking at this from a LONG perspective and will
keep watching to see what the next buy point might be.