July 13-17: Dow, NASDAQ Soar–Solar Close Behind

Week reverses a three-week drop

It was a rebound week on Wall Street. The Dow saw five consecutive gaining days charging back 597 points to 8743.94, a juicy 7% up from last Friday’s close. The NASDAQ rebounded,too, climbing nearly 131 points to finish at 1886.61, over a 7% gain aswell. It’s the eight consecutive gain for NASDAQ, the best run in overfour years. The 20 Solar Stocks Index ascended 22.1 points to end theweek at 392.5, nearly a 6% comeback.

Overallsolar stocks rose 10.5% with only one of the 20 not gaining ground.Friday’s trading cooled down for solar as 14 stocks dropped slightlyfrom yesterday but the last five days stopped a three-week slide.

Analystssay the good Wall Steet week is largely due to strong earnings reportsfrom Intel and IBM and some encouraging news on the economy. Afterabout a three-week drubbing, solar stocks may have been perceived asbargains this week, thus the surge. The energy bill before the Senatewill be more of a boon for Big Oil and King Cole, so the rise in solarstocks, to this blogger, should not be attributed to the energy bill inits current form.

Week of July 13-17, 2009

* The starting date of the 20 Solar Stock Index (20SSI).

** NOTE: Concensus "new" bull market began on Monday, March 9, 2009.