Immense Solar Flares Recorded Today!

By Steve Auger, BlogOnSmog	Sphere: Related Content
Green investments have been absolutely brutalized this last year, down on average over 40% the last six months alone.  But today marked a possible turning point in this bear market.  With a new bank rescue plan on the table you might say Wall Street "had a good day".  The Dow Jones Industrial Average was up a record 11.08% on what would ordinarily have been a quiet Columbus Day holiday.  Solar stocks emitted solar flares unlike ever seen before, with most stocks up a massive 20% or more on the day.
Solar stocks dramatically outperformed the market indices in spite of record index gains (DJIA up 11.08%, Nasdaq up 11.81%).  This is understandable given the punishment that green investments have endured over the last year.  Solar stocks have a lot riding on the outcome of the 2008 presidential election.  If Obama wins the election it is expected that a windfall tax on oil companies will be introduced in order to subsidize development of alternative energy.  Obama's energy plan strives for 10% of electricity generated by renewable sources by 2010 and 25% by 2025. Here are some of the day's gains: Symbol Company Name 1-Day Gain YGE Yingli Green Energy Holding 28.49% STP Suntech Power Holdings 26.48% ESLR Evergreen Solar 23.55% FSLR First Solar 22.58% SPWRA Sunpower Corporation 20.90% CSIQ Canadian Solar 16.31%   This post should not be interpreted as a recommendation to buy or sell stocks as the author is not a financial advisor.  Data is provided for information only.
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