Hot Momentum Stocks

SOL Remains HOT after my post titled SOL is ‘En Fuego’

SOL – 27.80, ReneSola Ltd. was up 6.76% Monday on volume 325% larger than the average. I told you last week that this was one momentum stock you should not ignore. It’s now up almost 30% in three days after my Thursday morning post. It was up 15% last Wednesday, one day prior to me highlighting the stock which is why I will repeat that stocks in motion typically stay in motion (simple physics – right).
5/14/08:

Renesola Ltd (SOL), $21.67, is on fire over the past several weeks since its IPO debut in January. Volume has been exploding as the stock is up almost 200% since it’s low in late March. I have been watching the stock as it has crossed dozens of nightly screens but decided not to post it to the blog until now.

If you want momentum, SOL is currently providing it. The stock was up more than 15% today on volume 409% larger than the average. At least 11 accumulations days have occurred over the past month as the stock started to log new all-time highs.

A couple more HOT momentum stocks:
VISN – 22.53, VisionChina Media Inc. has also been tearing up my nightly screens but it slipped past any and all ideal entry points for me as a trend trader. It is now in the hands of the day traders with a year-to-date gain of 146%, a 148% gain over the past three months and a 42% gain over the past month.

CSUN – 13.06, China Sunergy Co. is now up more than 47.74% over the past month but is still down 20% from my original 2008 post of $16.15 on January 4, 2008 (however, I did state: Ideal Entry: $12.00). The three month gain is 80.93% with a peak of 97% – I timed this one wrong but saw the trending potential back at the turn of the year. Patience – a must in this business. CSUN did reverse Monday – the first red flag in May.
1/4/08:

China Sunergy (CSUN) is part of a booming solar industry that includes stocks such as the ones listed below; all head lined by FSLR, a stock that is up more than 700% over the past year or so.

FSLR – $265.87
STP – $88.22
SOLF – $36.95
YGE – $38.02 (another stock I am looking to add)

One last word: watch the daily action because the summer months are coming – sell off time (hint, hint). Have all stops set and always look for red flags! Enjoy the momentum while it lasts but NEVER let a solid gain slip away.