ETF Trends
09-09-2008, 06:30 PM
ETF Trends - Keeping a Grip on Exchange Traded Funds (ETFs)
http://www.etftrends.com/wp-content/uploads/2008/09/solareclipse.jpgSolar stocks and exchange traded funds (ETFs) plummeted after oil prices fell lower and investors worried about an oversupply of solar panels.
One analyst at Lehman says the sell-off could be because of a misinterpretation of statements made by a solar executive, reports Dirk Lammers for the Associated Press (http://biz.yahoo.com/ap/080909/sector_snap_solar.html?.v=1).
Oil fell to $103.26 today - its lowest point since April 1.
In a note to clients, SunPower Corp.’s (SPWR (http://finance.yahoo.com/q?s=spwr)) CEO made comments about price declines that were inconsistent with estimates provided during the company’s second quarter earnings call. The Lehman analyst maintains a positive rating for the sector, but that continued volatility is expected until Spanish and U.S. market government incentives are resolved.
The analyst says 2009 is expected to be a year of transition for the sector and predicted that tight supply could continue.
Both solar ETFs took a big hit in trading today. Market Vectors Solar Energy (KWT (http://finance.yahoo.com/q?s=KWT)) lost 11.2%, and all of its top 10 holdings declined, led by JA Solar Holdings Co., Ltd. (JASO (http://finance.yahoo.com/q?s=jaso)), which lost 17%. Claymore/MAC Global Solar Energy (TAN (http://finance.yahoo.com/q?s=tan)) also saw all of its top 10 holdings fall, and the fund overall lost 11.9% today. JA Solar was the biggest decliner in TAN, as well. The company is 4% of both TAN and KWT.
KWT is down 27.4% since its April 23 inception, while TAN is down 25.4% since its April 15 inception.
http://www.etftrends.com/wp-content/uploads/2008/09/z33.png
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/388007436/solar-etfs-drop-sharply-after-reports-of-panel-glut.html)
http://www.etftrends.com/wp-content/uploads/2008/09/solareclipse.jpgSolar stocks and exchange traded funds (ETFs) plummeted after oil prices fell lower and investors worried about an oversupply of solar panels.
One analyst at Lehman says the sell-off could be because of a misinterpretation of statements made by a solar executive, reports Dirk Lammers for the Associated Press (http://biz.yahoo.com/ap/080909/sector_snap_solar.html?.v=1).
Oil fell to $103.26 today - its lowest point since April 1.
In a note to clients, SunPower Corp.’s (SPWR (http://finance.yahoo.com/q?s=spwr)) CEO made comments about price declines that were inconsistent with estimates provided during the company’s second quarter earnings call. The Lehman analyst maintains a positive rating for the sector, but that continued volatility is expected until Spanish and U.S. market government incentives are resolved.
The analyst says 2009 is expected to be a year of transition for the sector and predicted that tight supply could continue.
Both solar ETFs took a big hit in trading today. Market Vectors Solar Energy (KWT (http://finance.yahoo.com/q?s=KWT)) lost 11.2%, and all of its top 10 holdings declined, led by JA Solar Holdings Co., Ltd. (JASO (http://finance.yahoo.com/q?s=jaso)), which lost 17%. Claymore/MAC Global Solar Energy (TAN (http://finance.yahoo.com/q?s=tan)) also saw all of its top 10 holdings fall, and the fund overall lost 11.9% today. JA Solar was the biggest decliner in TAN, as well. The company is 4% of both TAN and KWT.
KWT is down 27.4% since its April 23 inception, while TAN is down 25.4% since its April 15 inception.
http://www.etftrends.com/wp-content/uploads/2008/09/z33.png
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/388007436/solar-etfs-drop-sharply-after-reports-of-panel-glut.html)