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

Aug. 19 (Bloomberg) -- "ReneSola Ltd., the world's largest recycler of scrap wafers used in solar panels, said second- quarter profit almost quadrupled on increased production and higher prices.

Net income climbed to $23.3 million, or 19 cents a share, from $5.9 million, or 6 cents, a year earlier, the Jiashan, China-based company said today in a statement distributed by PR Newswire. Revenue almost quadrupled to $173 million.

The wafer company raised its full-year revenue forecast, predicting sales will rise to $640 million to $670 million. ReneSola in May boosted the target to $570 million to $590 million after pre-selling 80 percent of its planned 2008 output."

So strange with good results still hovering around 470 mark.

"We achieved significant growth and exceeded our targeted output for the
quarter as we continued to execute our growth strategies," said Mr. Xianshou
Li, ReneSola's chief executive officer.

The market doesn't seem to have reacted at all to the figures, but wonder if this may just be that this is the holiday season. September might see a bit more interest hopefully.

was there any mention about margins or profitability? .... surely those are the key questions, as t/o is of questionable value

Net profit during the second quarter of 2008 increased 31.9% sequentially
and 294.6% year-over-year to US$23.3 million.
Second quarter production output was 82.5 MW, an increase of 24.1% from
66.5 MW in the first quarter of 2008, exceeding previously issued guidance of 75 MW to 80 MW.
Gross margin 06/07 22.4 %. 03/08 22.1 %. 06/08 24.7%.

All looks to be reasonable to me, but accountancy was never my strong point!

i too am at a total loss when looking at accounts, but having now had a look, confess that even i think the numbers look pretty healthy ...... am therefore puzzled that ADR performance was pretty moderate last night, even compared to FSLR, and that there has not been substantial bear closing in london this morning.

was there any press comment? .... i assume not

am almost tempted to BUY - lol! ...... beginning gto look like a bit of a squeeze starting, but i am unsure where any rise would run out of puff

Bit too close to the historic 500p level for my liking. Has tended to meet resistance at that point.

I had a little flutter on this a few days ago and sold as the sp approached 500p - because, like Harrycat et al, I feared resistance at 500p. It did briefly go above that on Monday (after I'd sold of course!) but I think it could well penetrate that barrier again soon, and there may well be another upward surge.

The figures do look good, there's a growing market, and as yet there is no sign of a glut of solar wafers.

So: temptation is to buy again.

Just had a quick look at the 2yr chart. Sp is way above the 50 & 200 DMA & historically 600p has been the peak (though breached the 700p level once), but this stock is prime target for the shorters, so buying now needs caution, imo.

Yes it certainly does need caution. I wouldn't dare buy it on CFDs - I've only traded this one on my basic Selftrade account, where I don't need to lob in more funds if the sp moves against me.

Finished $19.11 nearly up 10% on the day, which I think equates about 510p, so I think there is going to be a bit of gap up in the morning. I wouldn't dare short this now.

for once it looks as though we all agree, insofar as trading in either direction is fraught with danger.
Dow finished a tad above the psychological 11400 barrier aqnd there may be some follow through in F/E overnight ..... if so, a solid start in London looks to be on the cards

516p, so well past the 500 resistance. Wasn't confident it would go that far so sold yesterday. Damn! Small profit instead of medium profit.

Don't worry Harry a profit is a profit especially in this snakes and ladders market! Quite interesting the trading strategy where you buy a week prior to results, particularly when a share has been heavily sold off with a lot of stock on loan e.g. sola, rio , dnx which have rallied considerably possibly because of nervous shorters and a bit of ping pong sector rotation thrown in. The dollar seems to be key

I have got to admit that with this stock in particular I tend to trade the chart & forget about most other influences. I do watch what SOL is doing on the U.S. exchange as a guide, but as the latest figures are unaudited chinese accounting, best to watch the trend, imo.

I have to admit dual listed stocks do freak me out a bit because they can move 5-10% overnight and gap accordingly, life is stressful enough with just uk trading hours! B.P. rio for example.

Looks like SOLA is trying to form another 'W' (the previous W was completed over a much longer time-frame and actually exceeded the chart target by some distance). In this instance an initial target of 560p might be on the cards.

It's got a bit bogged down around the 500p level.
Don't currently hold, but looking forward to some kind of movement as this is normally a good trading stock.

Well Harry at the moment the SP has just made a higher high on recent performance (assuming this level is held). Not only that, it's through a pretty hefty resistance level of 500p (previous comment applies). I still think 560p may be on the cards.