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ReneSola Ltd. Message Board

  • scsmith_12000 scsmith_12000 May 4, 2011 10:46 AM Flag

    Buying into this stock has produced the ultimate double punch to the gut

    I was in a winning stock....It had been torching and then it started to drop a little, so I took a risk and assumed that stock's run was over....I jumped ship and believed I saw a ton of potential in renewable energy, specifically the solar sector, so I jumped in.....The stock I left has gone up 25% since I sold out....this PIECE OF GARBAGE has fallen 24%.....

    Wham....wham.....double shot to the gut.....

    I feel like I should just cut my losses and get out of this's just not worth it....

    Plus, when I leave, you can all thank me, because it will shoot up 50%

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • This POS has a PE of 4.3 and the stock keeps dropping. Something is really wrong here.

    • In a similar situation. Was up 50% and gaining on another and when Lybia happened, I went all cash. Chased Q4 earnings on SOL, got hammered, then averaged down, went back up at one point and was convinced it was going to continue to climb.

      I still think that if you hold for the next year, it will be in the mid teens, yet it's tough to watch it languish like this.

      When it goes back over $ 10, I might just jump ship and be done with it, and if it jumps up after that, no big deal.

      Try not to worry so much. There will be a spike again in the sector, there is just too much of a future although the real potential might not be realized for 1-2 years.

      It's not a loss until you sell.

      • 1 Reply to ifollowrulenumber1
      • this is a 5 year hold and not a short-term investment. I might have posted this before on this board, the problem is not the solar sector per se (just check Odyd's posts if you are worried) - it is the continuous hammering of Chinese ADRs by shorts likes Jim Chanos and accompanying market manipulation. I have already written off a 30% loss this year on other Chinese small cap ADRs like XIN that - despite of continuous earnings beats, increased cash positions, and financial audits by Ernst & Young - keep falling. I had been in those stocks since last summer, when it looked like the selling was over after everyone including the NY times talked about a bubble China, ghost cities, etc. Now, it is trading at a PE of less than 3 and forward less than 2! But it is pointless to hold while the market does what it wants to those stocks anyway.

        In my opinion SOL will go up once the US equity markets go through a correction. In the end this is all about "paper pushing" and as long as traders make money with what they are doing they will continue. If US equities start to correct, they will move on because it is safer to short those stocks than Chinese ADRs. That's when suddenly everyone will say "Oh, China is such a great country with enormous growth and their equities are SOOO under valued"...

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