Read the latest interims.......just make sure that you are sitting down.

Certainly does.

Looking very fragile.

Oh...it is going up now.

Wont last.

I here some are warning of a further profit warning.

Up 10% within 3 hours.

still down over last few days ...... sp hovering at 240 resistance/support with another at 260 if that breached ...... see no good reason to close my (profitable) short, which is a good hedge against continuing market volatility.

also note that sales seem to outnumber buys 10:7

Well, that's the 260p breached Cyn .... where to next.?
Hasten to add that I have no position now. Just hanging around.

Maybe 300p tomorrow.

Bought at 255p today...good timing.


ReneSola makes 'significant' progress in multicrystalline wafer production - AFX

LONDON (Thomson Financial) - ReneSola Ltd said it has made 'significant' progress in the implementation of multicrystalline wafer production with four furnaces having passed trial and now in full production.

The manufacturer of solar wafers for the photovoltaic industry said a further six furnaces are at different stages of trial production and are expected to be in full production by the end of September.

The company said wafers produced from the new multicrystalline furnaces have been tested by customers and have exceeded the required levels of energy conversion efficiency.

ReneSola said it will announce details of third-quarter production output in the first week of October.

TFN.newsdesk@thomson.com

tsm/bsd

KITOS .... don't know ..... will contemplate whether or not to close out with an acceptable loss or just hang fire .... serves me right for not taking the very respectable profit when it was on the table

knickers!
was a technical good boy and obeyed the discipline of cutting losses at 285 ..... sp now falling again ..... never mind

kitos ..... thanks for cheque .... only got it this morning as have been away for a few days

Just goes to show 4 furnaces doesnt make a company.

Kitos you now paying cynic for investment advice...........................lol.

Good win on the bet cynic.

lost rather more back on the premature closing of my short ...... still, really shouldn't complain as made a bundle both long and short and can#'t call correctly all the time ...... now trying not to be tempted to re-open short!

I closed one of my shorts earlier in the week but keeping the other. Nothing much has changed and chart wise another nice time to get out if you're long and short if not.

This really does set them up for another profit warning, the management arent showing much experience, any failures and kaput........

Extracts from the rns yesterday.....

Four furnaces have successfully passed trial production and are now in full production.
- what do these contribute?

A further six furnaces are at different stages of trial production and are expected in full production by the end of September.
- Wait till October update to see if they meet this target

Trial production from a further five furnaces is expected to commence by the end of September.
- again, wait till October update.

Cyn, glad it arrived OK. I am out of SOLA now and have no comment to make, positive or negative.

Stop sitting on the fence kitos.

Can't get on the fence for you sitting there so long.

quite tempting to short this again ...... 260 has clearly proven too tough a hurdle, so with general market weakness + some forced selling + typical pressure on low-grade stocks, 240 is unlikely to give much support ..... perhaps 200 and lower will again be on the cards

Still holding my short. Don't forget the new Goldman target is 270 - which was a great shorting opportunity in my mind on Friday.

Strange how some people tend to think start up companies live off 'fresh air'.

Sola were in effect granted a loan of $120 million by way of reedemable bonds 26/3/2007. On results day they had only just $68 million in cash and cash equivalents left, that was on the 30/6/2007 which shows that the company is certainly eating into the cash pile but alas on the same day we see a bank loan of $59 million outstanding. Basicaly wiping out any cash assets the company have.

But no it doesnt stop there, no god forbid we see from the 2nd 1/4tr cash flow statement that the company is leaking negative operational cash flow at $44million and the CEO is on record saying that the next 1/4tr will also see negative operational cash flow.

Now we know that Charles b is on record as saying he wont go back to the markets for further funding and we know he hasnt signed up the big banking partner that the company wanted....

So question wheres the money coming from to go forward???????????????????????????????????????????