There was some real unusual trading activity going into the close yesterday, volume and price spiked the last minute, and hitting as high as $4.67 right after the close. Not sure if it even means anything, other than maybe another short getting a margin call, but someone was sure in a hurry to get in or cover.
Looking around at the news today, all I could find that would be good news that's more specific to CSIQ, is a report came out yesterday from Frost & Sullivan on the expected acceleration of US utility scale projects. This bodes well for CSIQ's quickly growing pipeline there. Also noticed only FSLR & SPWR were green yesterday, who would all be beneficiaries of this also.
Hi sc, been reading win's posts over at the other place. They've been good, but he keeps thinking the stock is going to pull back, and thinks it will hit $3.99 early next week...I think with the volume, momentum and continually good news in the sector, that this will see $4.99 before $3.99...and if CSIQ by chance should announce anything of significant in the next couple weeks, then maybe $5.99 the way the charts are shaping up (take a look at both short-term and long term multi-year charts...NICE!)
With CSIQ, this is more than just short-covering. There's accumulation going on, and it's steady. This will continuously keep the pressure on the shorts. All stocks rose together with technical traders triggering a short covering rally. But now we're at a point of separation; the good one will continue to go up, while the shaky ones will start to pull back.
There's good news in the industry everywhere, and it's expanding. Demand is really accelerating globally and prices are stabilizing...with some even expected to rise...the Next Wave has reached the shoreline... The bears' arguments don't hold much water anymore...the old tricks are too transparent now. The more attention drawn to the space, the more people are starting to see the huge upside this year and beyond.
Keep in mind, if the stock can drop from $12 to $3 in a fairly straight line over a 3-month period (2011), it can certainly do the same going in the opposite direction. If you were in charge of a mutual fund, and saw upside for 2013 and beyond, wouldn't it make sense to invest in the company that's headquartered in Canada and in the top-4 module industry ranking, with some manufacturing in Canada but mostly with low-cost Chinese production, with very significant alliances forged, and especially with over $2 Billion in visible high margin revenue streams?...let alone how this will continue to grow. Definitely, without question a safer bet and closer to home than any of the other Chinese-based solars, and even more-so if you throw the valuation part of the equation into it.
And there's plenty more reasons...you know I could go on and on...
btw, looking at the "3" analysts with 2013 EPS estimates...they are way off...even more upside when they revise upwards and new analysts join the party.
...red wine...the darker the better...2013 is going to be a big year for CSIQ and its investors...the rose is finally blooming, and the stench of manure is subsiding...I'm just sitting back and enjoying being part of the run...while the steo guys are watching from the sidelines or losing their shorts...