Tuesday, October 9, 2007

What a Day!

Posted by TraderMark at 12:02 PM TweetThis
Well as a fake fund manager you just hope for days like today; took some serious hits yesterday on the solar exposure, fund was down 2% - blech

Today top long holdings:
#1 BCSI +9.3%
#2 LDK +10.4% (I didn't realized I had bought so much, since the price was depressed, this went from below 4% to >5% holding just by price appreciation alone)
#3 TSL +0.40% (slacker)
#4 CIEN +0.60% (that's ok, you had a huge run in past 2 weeks, need some rest)
#5 MOS +7.7%
#6 CNX +2.8%
#7 BTU +4.3%

Not bad in a quiet tape and that darn Garmin (GRMN) looks like she wants to get back to $120, doesn't she? I took a bit off the table since I didn't want to be greedy since its had a heck of a nice bounce but still have a 2.5% position.

I updated the fund positions in the far right margin since the price appreciation/new additions in some of these names have moved the positions around significantly. I still think the majority of the LDK Solar move will come when the 3rd party auditor report hits, which at this point sounds like end of this week/beginning next week. I will be looking to unload some of it up around $50.

Posted by TraderMark at 12:02 PM Comments (2) | Edit This Post | Create A New Post

2 comments:

msb said...

You saw the Motley Fool article mentioning TSL & LDK?

Monday's Worst Stocks in the World:

Worse
Next up is Trina Solar, which appears to be suffering alongside troubled peer LDK Solar (NYSE: LDK). Both make components for power-generating photovoltaic cells.

But LDK appears to be in worse shape. A former official has accused the company of inventory problems in news reports. Then, on Monday, Barron's reported quality issues. LDK denies both reports and, earlier today, raised its third-quarter revenue forecast.

Who's right? Who cares? Both Trina and LDK are new to the process of building solar components. Quoting from the Barron's account:

"Eager for clean, oil-independent energy, China's government encouraged entrepreneurs to start making solar-power components. Businesses from diverse corners of the economy answered the call. Until April 2006, Trina Solar made aluminum siding. LDK's 32-year-old chief executive and controlling shareholder, Xiaofeng Peng, made industrial safety shoes and gloves."

In other words, owning these stocks for exposure to the so-called "solar boom" is like hiring a pastry chef to build you a house. Eeeeeeeewwwww.

October 9, 2007 2:28 PM  
TraderMark said...

No I didn't see that, thanks field analyst.

Too bad for Trina, they are taking a beating from uninformed journalists who make it sound like in spring 2006 the company decided to drop their aluminum siding and turn into a solar company. It's been a long process, and even in 2005, 90% of sales were solar and 10% were aluminum siding. Oh well, in the long run it just creates opportunity.

October 9, 2007 2:37 PM  

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