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Is Now the Right Time to Buy Solar Stocks?

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In Brief...

Renewable Energy stocks have been suffering for over a year, but the sector's poster-child has also been the whipping boy. ) Ian Tharp - CIBC World Markets These numbers were brought home to me by a presentation by Ian S. Tharp, CFA, an Executive Director and Cleantech and Renewable Energy Analyst at CIBC World Markets. I asked Mr. Tharp if he thought the sector showed signs of bottoming. 19 of the 22 stocks I follow have positive momentum (longer term indicator), 20 of 22 stocks have negative weekly momentum (short term indicator) and 21 of 22 stocks are oversold an average of 30.9%. Mr. Cianci uses a combination of fundamental and technical analysis, and clearly has a depth of understanding of the stocks he trades. I found Mr. Cianci's critique of the Solar ETFs (TAN and KWT) particularly interesting because it parallels my own critique of the general alternative energy ETFs: Based on the above, I'm not ready to jump into solar stocks, but if I were, I'd be looking at the capital equipment manufacturers Mr. Cianci likes.

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