The solar stocks rise after a flurry of news yesterday.
SOLAR IS SHINING - After the bell last night several big-name solar stocks reported better than expected earnings and have the sector on the rise in early trading. SunPower (SPWRA), the biggest US solar panel maker, reported net income that fell 22%, but it came in well above analyst expectations. Solar wafer maker, LDK Solar (LDK), raised its revenue and shipment forecast. In unrelated news, First Solar (FSLR), one of the largest solar companies in the world announced it was entering a venture to create the largest solar panel plant in France.
BOTTOMLINE - In early trading SPWRA is up over 20% and back above the $30 level for the first time in a month. LDK is gained 8% and on the verge of breaking above the 200-day moving average for the first time since last September. FSLR is surging 6% and is at the best level in several weeks. The Claymore/MAC Global Solar Energy ETF (TAN) is composed of a basket of solar stocks from around the world and is enjoying the buying into the sector today with a rally of 3.5%. The ETF is now above all major moving averages and sitting at a one-month high. **TAN is a position we own for some of our PFG Portfolio Management Clients and is ALSO been used with the PFG Covered Call strategy.
For more on our Management services and Covered Call strategy please contact us at info@pennfinancialgroup.com. | 
