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

I was curious as to what caused the US spike, just noticed this:


ReneSola Signs Letters of Intent to Develop 500 MW On-grid Power Generation
Project and 5 MW Rooftop Project

JIASHAN, China, July 16 /PRNewswire-Asia-FirstCall/ -- ReneSola Ltd ("ReneSola"
or the "Company") (NYSE: SOL) (AIM: SOLA), a leading global manufacturer of
solar wafers, today announced that it has entered into a letter of intent with
the Yancheng city government, Jiangsu province, to develop a 500 megawatt
("MW") on-grid solar power generation project. In addition, the Company has
been granted the exclusive right in a letter of intent with the Panzhihua east
district government, Sichuan province, to develop a 5 MW rooftop project. Both
projects are subject to feasibility studies and approvals by various government
authorities.

(Logo:
http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030
)

"We are delighted to announce the addition of these new projects to our
downstream solar project portfolio," said Mr. Xianshou Li, ReneSola's chief
executive officer. "The 500 MW solar project in neighboring Jiangsu province is
set to become one of the largest of its kind so far in China. A project of this
magnitude will showcase ReneSola's expertise in utility-scale solar
applications and help raise our profile in the downstream space as we position
ourselves to benefit from the government's enhanced focus on renewable energy."

500 MW On-grid Power Generation Project

According to the letter of intent entered into with the Yancheng city
government, ReneSola will develop a 500 MW on-grid power generation project in
Jiangsu province, China. The project will consist of mainly ground-mounted
system applications and 10 MW of rooftop installations to be built over a 6
year period.

5 MW Panzhihua Project

According to the letter of intent entered into with the Panzhihua east district
government, ReneSola will develop a rooftop project of no less than 600,000
square meters for new or existing government buildings, with installed capacity
planned to reach 5 MW.

This is why YOU must always do your own research and ignore ill informed comments with little or no supporting argument (actually, there is a good case to ignore everything Hyleo posts!)

hlyeo98 - 22 Jun 2009 20:05 - 2868 of 2919

There is hardly any support at 160p,
I think it will go to 120-130p range most likely.

(140p was the low)

hlyeo98 - 24 Jun 2009 17:20 - 2875 of 2919

Nothing goes down or up in a straight line. I agree with Harry, SOLA will move down tomorrow.

SP went up!

hlyeo98 - 03 Jul 2009 08:04 - 2881 of 2920
SOLA will move downwards within the next 4 weeks.

Two weeks gone and up over 25%. Was it going to go up first and then down or down first and then up?

hlyeo98 - 07 Jul 2009 11:51 - 2886 of 2920
Shorted from 205p so I'm not that jittery, now 157p, Harry.

Can't recall you posting that you closed, getting jittery now?

hlyeo98 - 08 Jul 2009 16:24 - 2892 of 2920
Harry, didn't I tell you so? And the other thing is your 140p support will be broken with ease. Brace yourself. ;o)

Errr, I think not

hlyeo98 - 08 Jul 2009 17:22 - 2894 of 2920
I think about 100-120p.

I think you should be very careful about your 'thinking'

i do .... i watch what you post - lol!

I really shouldn't mock the afflicted!!

This morning's rise not unexpected following the announcements and the US SOL rise yesterday, SP now trying to push through my first resistance level.

A slight softening of the SP since the first hour of this morning. My impression for the last 14 days has been that UK SOL has taken the lead and US SOL follows accordingly. However, the release of news post UK trading yesterday has reversed that process and I expect UK to react when US opens. Can't say I'm a great fan of this morning's gap, but gaps are not always filled despite what some say. If this level of resistance is breached (can't see any reason from the chart why it shouldn't) next target is 240p.

The fundamental view:

Dark Days for the Solar Manufacturers?

US SOL has shed half of yesterday's 10% gain, with UK SOL following suit and closing 15p down from the 185p resistance level. First attempt failed. With hindsight I should have closed this morning, SOLA has always had a somewhat flakey reaction to news, often zooming up only to lose those gains quickly thereafter. From a TA perspective the MACD MAs have not crossed nor achieved a centreline crossover. I'll be keeping a close eye on the all important trendline support (150p) next week to determine if this recovery is sustainable.

SOL finished down 9% on the day, red day on Monday I expect

So it would seem that your post #2917 containing the hedging words 'suggest, possibly, may, ideally & assuming' has proved to be somewhat off target along with our posts predicting the UK SOLA (not SOL) price would likely drop below the 140p support level? Nice to know that we are all mere mortals! ;o)

Harry

Not quite sure of the point you are trying to make? Please explain.
My prediction was a bounce from the trendline support in the region of 143p.
Err, I think you will find it did exactly that. My entry is at 143p and I could have closed today at 180-185p. If you take 180p as worst case scenario the rise equates to 26%, not a bad profit for 14 days work.
As you are no doubt aware I didn't close, but chose to hold the position because I cannot lose, unless there is a gap down, a risk I'm prepared to take.
As far as the future is concerned, the chart still looks positive and we'll see what happens next week.

Edit. PS Incidentally, I have explained the rationale for my carefully chosen words when posting my thoughts previously. If you rather I didn't post, I'm quite happily to oblige.

Just as an aside; with a 1000 starting pot, it would take just 34 trades to turn that figure into 1m with a 25% profit every time :-)

and the theory of probability would no doubt dictate that 6 successive and successful trades is about the realistic limit .... you then go back to Square 1!

Snakes and ladders!

Keep posting pth. Happy to see all points of view from all posters, long or short.

Tell you what Harry, can't be arsed, without wishing to sound too alturistic, posting my TA was never for my benefit, only others.

Stick with Hyleo, you know it makes sense.

Altruistic. It's ok, I'm only worried about the spelling! ;o) As for Sola, well, nerves of steel required but ultimately a survival story with a respectable share price - 2+ long term?

Ref post #2887 : "The maximum return on this position is realized if US:SOL rallies to the seven level ($) by the time the options expire on July 17." It didn't & the sp has twice recently tested close to the $6 level & bounced back.
UK:SOLA also seems to be running out of steam again, which is a bit disconcerting.

SOLA in the process of making a higher high, although will be dependant on US SOL action when the US opens.

US pre-market SOL up over 6%, interesting day.

Just nudged over $6 which is a hopeful sign if it can hold there.

Slipped back to just under 4% ($6.01) however, over half a million ADRs traded pre market, equivalent to the UK's volume today thus far.