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

SOLA going down 40p this morning

sure am glad i dumped all mine late yesterday, even though i had to accept a couple of pennies less than indicated ........ sp already down 65 and would not be at all surprised to see a retrace of up to a further 100 ..... there is so much hot money in this stock, that i suspect there will be some forced sales

could go lower than my prediction of 350

Profit taking - might be tempted to buy in if it falls to 320 - 340.

I would wait a little longer personally, last support was 220

support at 420

why?

Steveo, the goal posts have moved pretty considerably since 220p.

There may indeed be some forced sales, but I would expect some mopping-up to take place as more institutions and particularly the US investors get on board.

Goldfinger, you have a point about those profit figures - I thought that SOLA was profitable already, and indeed from the latest quarterlies it appeears to be. Either there is something seriously wrong with the quarterlies, or there is something seriously wrong with the presentation figures.


Got it! If you look very closely, the so-called "profits for the year" , e.g. "(305)" for Q3 2006 are actually the figures taken from "net finance cost" in the quarterlies.

The figures are displyed differently in some cases (i.e. cumulatively for certain six-month periods), but that is where the problem lies.

I will write to SOLA and ask them to issue a correction before the SP goes totally submarine.

If anyone else also feels like lobbying them for a correction and press statement I think that could be very useful.

Right, peeps, I have just sent the following to IR@renesola.com and am hoping that it will find the right people.



URGENT: Apparent Error in Investor Presentation


Dear Sir, dear Madam,

I am an investor in Renesola shares and have been very pleased with the latest news regarding capacity expansion and the corresponding increase in the company's share price.

However, I feel that there is a problem which may be negatively affecting the share price at present.

In your website's pdf version of the Investor Presentation on page 12, I believe that the figures for "Operating Profits" and "Profits for the year" are incorrect.


According to the latest quarterly financial report i.e. "RESULTS FOR THE THIRD QUARTER ENDED 30 SEPTEMBER 2006", released on 08 November 2006, Renesola has been in profit in each quarter. In the Investor Presentation released this week, however, it appears that the figures for "Profits for the year" have been displayed as "Operating Profit", whilst the "Net finance cost" from the quarterly report has been displayed in the "Profits for the Year" line and is consequently showing as a loss.

Meanwhile the true "Operating Profits" figures have not been displayed at all in the Investor Presentation.

I would be very grateful if you would investigate this issue and please provide carification. We investors need to know: is Renesola making a profit at the moment or is it still loss-making?

If there is a mistake in the Investor Presentation, please would you ensure that the figures are corrected and also that a statement is issued to the international financial press explaining the mistake and showing the correct figures.

I feel sure that some of the negative movement in the share price may be due to the perception that Renesola is not making a profit, and am keen to have this clarified.

With many thanks for your kind assistance.

Kind regards,
............

cynic,

just pointing out the ship has steadied at that level (420), I don't expect it to get back down near 220 but would be looking to wait before getting in at around 350, should it go that low again, as I would expect some weakness over next few days following such a meteoric rise, granted the broker note may mean I could be waiting forever.

Whatever happens this company has a great future :-)

One or two posters on the other side have agreed my analysis of the error - hope SOLA's accounting and IR departments do the same!!!

Well spotted, soul, maybe SOLA made a mistake in its accounting.

HLYeo, Thanks - however, I think it's more an editorial error in the presentation than an accounting problem.

Certainly hope so, as I bought SOLA on the basis that it is already profitable!!

Just looking in whilst overseas on business. I see there has been some heavy price movements in the past few days.

Soul T, thanks for helping my fledgling portfolio with SOLA. Your comments/views made the difference in choosing this stock back in August.

Cynic, thanks for providing the reality checks and comments regarding price volatility on this and other stocks. I set a moving stop loss before I came away, so am pretty happy for now.

Cheers guys.

Thanks DD, glad you have done well.

ST, I suppose it balances the GOOey mess at the moment.

Right - I have managed to avoid that but may look into it as a recovery play.

ERX about to break out

ditto PDR - up 50% this week.