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

Can anyone find any mention on margins which were dropping last quarter?.

How on earth this one as got away without it being called a profit warning is mind bogling.

No met up with any of the Brokers forecasts.

in that case, y is sp defying gravity?

It's like throwing a ball up cynic - that point where it seems to slow and stop at the top - we know what happens next!

hope so as have just shorted at 544

goldfinger, hope you don't mind, just posted your post elsewhere.

No probs GH.

brave man cynic, i do agree however.

hope it's no more brave than telling you all to buy DOM as few weeks back

Pulled my order earlier, but having another go now.

Lifted from another board Evils as just given his opinion...

Of course the company is profitable and seems pretty confident but I would point out that, once again., a headline pre-tax profit of $22 million for 2006 did not mean that cash was generated. The cashburn was $14 million. Why is Renesola so unable to generate cash? Moreover is a 550 million market value really justified on the basis of 11 million pre-tax profit? I stay short.

as the then lovely Randy Mice-Davis said, "Well, he would say that, wouldn't he?" ...... but i too (now!) hope he is right

Cynic, latest details I have from Broker Ambrian seem to suggest he is right.

There target is 4.55p per share.

Ambrian have raised their target from hold to buy today.

Im very suprised GH given the confirmation of the cash outflow. What price target are they aiming for now please?.

Motech are now setting up their own wafer plant in China. There is no barriers to entry, and with Motech pumping in 200m$ into a new facility in China, the future of wafers is perhaps looking very diluted. Thats the trouble, the Broker forecasts are concentrating on SOLA capacity, not on forward capacity in the market.

My order was filled and now officially short, will keep a close eye on proceedings and either close if it gets into trouble or add if it continues to drop.

Oh and in profit already :)

pth

at what level did you manage to short? ..... perhaps we can hold hands .... lol!

544.5 Cynic, bettered you by half a tick. Best I don't hold hands with you though!! 560 with any volume and I'll be out. If (when?) it continues to come off I'll add a new position every 15 ticks. Well be interesting to see what happens on Monday and any upgrades/downgrades following the Results. I wouldn't take any notice of the house broker though, they are bound to be bullish.

pth

if Ambrian only reckon 455 as target/fair price, then it says plenty about the hype and overexcitement behind present levels - i hope!

Think this snapshot is just about readable. It's only a historical view, but is an interesting demonstration of the 'fan principle'. The break through 500p would have initiated a short position and netted anything up to 50 ticks dependant on the exit strategy.

The third trendline (broken at 500p) should have acted as resistance for any subsequent rise, which it failed to do initially, but managed to do on Friday. Had the breakthrough of this trendline had any real momentum it would also have become support, again it failed to do so.

For the moment and until proven otherwise I am going to assume that this trendline is now resistance and set a stop at 560. Worthy of note is the gap down set early March; the bottom of this gap is also acting as resistance at 560p which may add some credibility to my analysis.

So, unless it breaks up with some momentum I am setting an initial short target of 450p.

pth

thanks PT ..... now that is indeed a useful chart, even if one does need good eyesight to read it! .... even if sp starts upwards again, i cannot see it rushing through 600, so upside = downside as a bear(!) has much better odds/potential than the reverse.