Jim Nelson says savvy investors can make huge profits in the first 100 days of the Obama presidency. Three sectors facing a makeover under the new administration are biotechnology, renewable energy and defense. Jim says new legislation and funding could mean big gains for these three companies…
Existing Home Sales Down 3.1%; Chile’s 3Q GDP Beat Forecast; SunPower Finishes 18-Megawatt Plant; Cnooc Pushing to Develop More Oil Sites; Alpharma Gets Kinged; Xerox On Track; Oil Jumps 9%;
Solar energy was given a boost last week after $18 billion in tax credits for clean energy were tacked on to the bailout bill to ease its passage through Congress.
Since then, however, concerns of oversupply have whacked solar stocks. This prompted Goldman Sachs (NYSE:GS) to downgrade several solar companies to a “sell”.
J. Cristoph Amberger says the current financial crisis will hurt investment in solar power. He recommends investors sell their positions while they still can.