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

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.

Cynic, first time I have pasted a chart with text, next time I'll make sure the letter thingies are easier to read, also just added a few random thoughts.

pth

if my aged eyes can read, then it's good enough for others! ... presume pasted from the site you mentioned

Not pasted directly, have to do the analysis first, take a screen snapshot, save to disk, upload to another website and then link the image to MAM.

wow! that is huge effort and greatly appreciated ....screen snapshot sounds very esoteric to a numbskull like me

pth, great chart indeed - as with VML, thanks!

Something was bugging me about the SOLA chart, so for the sake of balance I have had another look. There is a possibility that a bullish flag has formed during the recent SP revival. What I would say though is that the volumes are not as they should be, a very important aspect of TA patterns.

All I can suggest is take a look at the previous chart I posted, compare the two and make up your own mind.

pth

i say, "Wait for tomorrow and see what happens then. We can all then have 20/20 hindsight!"

Cynic, you have e-mail. PDYOR, though, but could be of interest. Will correspond tomorrow as I have to keep a date with my pillow.

Soul out.

LONDON (Thomson Financial) - "ReneSola Ltd said its full-year pretax profit leapt higher as revenues soared from the prior year, adding it is on track with the implementation of its accelerated capacity expansion plan.

The manufacturer of solar wafers for the photovoltaic industry said pretax profit for the year to Dec 31 2006 was 22.8 mln usd, versus 621,000 usd in 2005, while revenues soared to 87.6 mln usd from 8.4 mln usd.

ReneSola said demand for solar wafers has continued to grow, and it has signed sales contracts for about 91 mega watts (MW) of monocrystalline wafers for 2007 delivery, representing about 83 pct of the planned 2007 monocrystalline wafer output.

It added production in the first quarter was about 15 MW and expects it to rise to about 25 MW in the second quarter.

It said 2008 expansion plans are expected to be finalised before the end of the second quarter, adding it plans to open an office in Shanghai during the second quarter.

For 2007, it said it expects total production output to be about 150 MW, more than three times the output in 2006.

The company said it is currently in discussions with an international bank regarding a potential loan to provide funds for the capacity expansion and to provide additional working capital."

"The company said it is currently in discussions with an international bank regarding a potential loan to provide funds for the capacity expansion and to provide additional working capital." ...... and thereby hangs the key as to why the management needs to keep massaging the investors (and sp!) ...... very happy to stay short, as i suspect is PTH though he is more than capable of making his own comment!