Let the games begin. STP just secured Poly through 2016~! BOOOYAH
S.Korea DC Chemical wins $635 mln order from China
Mon Mar 24, 2008 12:23am EDT
SEOUL, March 24 (Reuters) - South Korea's DC Chemical Co (010060.KS: Quote, Profile, Research) said on Monday it has won a 634.6 billion won ($635.4 million) order to supply polysilicon to China's Wuxi Suntech Power Co.
The contract covers a period between January 2009 and December 2016, DC Chemical said in a filing to the Korea Exchange. ($1=998.8 Won) (Reporting by Rhee So-eui; Editing by Yoo Choonsik)
Tough to see why it stalled out at this level other than volume, not a real resistance. It should be floating upward now that 34 is broken - if it sinks back down below it's not a won battle. Too few hopping on board here waiting for another shoe to drop.
Filling 2 gaps today Liquid...I agree on the volume...1st time up to the 20 ema...That's the resistance for now...35.17 or so...Waited a long time to buy this stock & small buy today...
Either way. What is interesting to me is that the big players like STP are able to operate profitably and can lock up supply to guarantee the expansion plans which dictates the growth rate and earnings potential.
This agreement is a positive no matter how you slice and dice.
I won't be happy though until STP fills the gap between 40 and 45 and shows a solid base. The sooner the better as STP will be a second half of the year story.
I never trust a rally in a bear. I'm playing bear market rules until I see the gov support the dollar or until I see key levels broken upward and holding above. We are a long way from a bull IMO. I haven't changed my "hell in a handbasket" opinion although when the bear breaks I think it will be dramatic. So much pressure building that the bandwagon should be broad.
If it is confirmed-up, $35.3 then $44.5, who knows. As confirmed-up as the market? Do you trust the rally now? I would like to see my stocks are green and my shorted ultrashorts are red, but for how long?
I believe a glut will occur at some level - how much spot prices drop is anyones guess however the cost of manufacturing would make it look like a signifigant drop in price will be in store as companies compete to sell product. There are quite a few startups - as you say, demand will increase dramatically for panels so it is possible that silicon will remain strong if production of panels ramps to silicon availability (which is certainly possible) - time will tell.
It certainly is a short term positive. If the contract was well considered, a long term positive for both companies. The numbers are relatively small also so negative future ramifications are limited.
On a technical level, STP bounced hard against my sell earlier and I only got a partial fill so 34 seems to be the next ceiling to look to break. It's difficult to see where another resistance level above 34 would be - any insights?