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

simple chart shows possible support at 240 or perhaps 220 ...... I think PT may have something a bit more defined via his more sophisticated set-up, but would not expect it to be substantially different.

below is SOLA's trading RNS ...... what a load of bullshit! ...... sorry guys, but i think the market is going to flog them unmercifully ...... it doesn't like being taken for a mug, and that's sure what it looks like ......


ReneSola Ltd cautioned its financial target for the year will be adversely impacted by a cut in its production outlook for 2007 from 150 megawatts (MW) to 120-125 MW.

The maker of wafers for the solar PV industry blamed the downward revision on a delay in starting its full multicrystalline production due to a setback in delivery of crucibles for its new furnaces.

The company said its second-quarter profit declined from the first quarter due to upgrades to some of its furnaces and an increased operating cost base, but said it is well positioned to continue its strong growth.

It reported a pretax profit of 4.56 mln usd for the three months ended June 30, down from 7.34 mln in the previous quarter.

Profit after tax for the period was down to 5.4 mln usd from 6.4 mln usd.

Second-quarter sales rose to 45.6 mln usd from 36.6 mln in the first quarter, while production rose to 23 MW from 15.3 MW in the first quarter.

ReneSola said it is planning for a substantial increase in production capacity in 2008.

I told you so cynic. So many bulls eating humble pie this morning including Kitos.

The market was telling you so.

Evil K was telling you so.

100p price target now even lower, its up against considerable better competition.

Those accounts are in tatters.

if I werent on holiday in an internet cafe id stay and give a fuller account.

The cash flow is pathetic.

ReneSola Q2 profit falls; says well-positioned to continue strong growth


LONDON (Thomson Financial) - ReneSola Ltd said its second-quarter profit
declined from the first quarter due to upgrades to some of its furnaces, delays
in the delivery of crucibles and an increased operating cost base, but said it
is well positioned to continue its strong growth.
ReneSola, which makes wafers for the solar PV industry, reported a profit of
5.4 mln usd for the three months ended June 30, down from 6.4 mln in the
previous quarter.
Second-quarter sales rose to 45.6 mln usd from 36.6 mln in the first
quarter, while production rose to 23 megawatts from 15.3 megawatts in the first
quarter.
The company said it is reducing its production output guidance for 2007 from
150 megawatts to between 120 megawatts and 125 megawatts, which will have an
adverse impact on its financial target for the year.
ReneSola said that it is planning for a substantial increase in production
capacity in 2008.

TFN.newsdesk@thomson.com
kal/cm2

COPYRIGHT

The company said it is reducing its production output guidance for 2007 from
150 megawatts to between 120 megawatts and 125 megawatts, which will have an
adverse impact on its financial target for the year.

Nobody seeems to have mentioned the FALLING MARGINS.........

the impact of the well-publicised
raw material cost increases reduced gross margin to 21.1% in the second
quarter, down from 24.4% in the first quarter 2007.

Minus 115p to 255p now. Down 30%.

sorry to hear if any of you guys are still holders, but sp now looks to be in free-fall @ 250 = -120 since last night ....... can't yet tell if there will be any recovery by close, but 240 (or lower) now clearly on the cards

Looks like market is generally turning lower...SOLA may go to 200p tomorrow.

What level is the next short point on this bounce? I need a piece.

Hi GF .... millionaire extra-ordinaire in an Internet Cafe on his hols. I 'aint losing a penny Pal. Went long at 345 & 355 and baled at 350p so even-steven, plus 22K in the bank.

How much have you made after months of deramping ? ... not a pfennig.!!!!

Unless you WERE short, in which case you are a self-proven LIAR.

Have a nice holiday Scrooge.

Afternoon, crikey, just checking in from the beach. Pleased to have got out yesterday following further thought of Gfs sucker rally comment, so cheers gf! Short again today and looking briefly at chart would expect to see further falls again.

Me too, but I 'aint short, nor is GF. LOL.

I am. ;-)))

Well done big Al. I've no complaints about guys winning when they have put their cash on the line.

well GF might bleat on a bit, but he has been calling this one correctly for weeks now...

If there is one thing you must keep in the markets, it is objectivity.

Lifted from ample....

Ek has said more profit warning will be issued. Bai was lucky he got supported by institution in the 550p region with the bonds . I can't believe he wants more funding to expand a company that is already underperforming and under pressure on margin. Smells like a disaster is brewing.

Those coming in late should read this update from Bloomberg, probably the most significant news article of the day, notice its bearish undertones and really points to the problems sola is facing just not in the immediate future but also longer term..........

ReneSola Has Record Decline on Lower Output Forecast (Update1)

(Adds raw material shortage in third paragraph, analyst
comment in fourth.)

By Trista Kelley

Aug. 23 (Bloomberg) -- ReneSola Ltd., the world's largest
recycler of scrap wafers used in solar panels, had a record
decline in London trading after the company said output in 2007
may be as much as 20 percent lower than forecast.
ReneSola shares plunged as much as 99 pence, or 27 percent,
to 288 pence, the biggest drop since the company first sold shares
in August 2006. The stock was trading at 288.25 pence at 2:18 p.m.
in London.
ReneSola, based in Zhejiang, China, plans to build a factory
to make the polysilicon used in its solar products amid an
industrywide shortage of the material. As government efforts to
boost the use of alternative energy help lower the price of solar
power, increased costs of polysilicon, also used in computer
chips, is eroding profit at companies such as ReneSola. LDK Solar
Co. last month said it will also make polysilicon to secure its
own supply.

``Solar companies have to compete with chip manufacturers for
polysilicon,'' John-Marc Bunce, an analyst at Ambrian Partners
Ltd. with a ``buy'' rating on ReneSola stock. ``There's an
undersupply issue, so the price has remained extremely high.''
ReneSola reduced this year's output target to 120 to 125
megawatts from an earlier forecast of 150 megawatts, the company
said today in a PR Newswire statement. ReneSola plans to nearly
double overall wafer production capacity by 2008 amid a surge in
global demand for solar panels, which according to the company is
doubling every two years.

Confidence

``Based on the delays, it's now questionable whether the 2008
targets for capacity output are achievable,'' Bunce said. ``It's
going to take a couple quarters of solid results for investors to
regain that confidence.''

The gross operating margin for the three months ended June 30
dropped to 21 percent from 33 percent a year earlier, ReneSola
said.

The output delays will have an ``adverse impact on our
financial target for the year,'' it said.
ReneSola's net income for the quarter rose 7.5 percent to
$5.43 million from $5.05 million the same quarter a year earlier,
the company said. Sales almost tripled to $45.6 million.
ReneSola shares have fallen 33 percent this year, valuing the
company at 284 million pounds ($567 million).

--Editor: Richards (dss/cms/ams).

ADVFN must be a giggle at the moment. No doubt lots of gnashing of teeth, anyway reached my 250p target from months ago :)

I wouldn't disagreee, found support today at 237p but can't see that holding, 212p next stop and then pick a figure. Wouldn't be surprised to see 100p. SOLA are seriously upsetting the market and are seemingly failing in most areas.

pth