Alternative Energy Stocks closed down today with only lithium-ion and geothermal stocks closing up. The Dow industrials got hammered again closing down 1.14% and dipping under 11,000 for the first time in two years but rallying late to close at 11,100.54. Weakness in the market is in response to worries about the economy lead by troubles with Freddie Mac and Fanny Mae and an announcement by OPEC officially declaring that oil was now the weapon by which Iran will be holding the world hostage for the near future with their apparent tacit support. Oil hit record highs at $147.27 before retracing and closing up $3.43 at $145.08. For more on the Iran hostage situation, read today’s blog by clicking here.
GEOTHERMAL STOCKS
Geothermal stocks had a good day with advancers leading decliners by 5 to 3
No stocks gained double digits but advancers were lead by Nevada Geothermal (OTCBB: NLGPF) which closed up 2.94% at $1.50 and Raser Technologies (NYSE/Arca: RZ) closing up 1.52% at $9.36.
LITHIUM-ION STOCKS
The lithium-ion stock sector saw advancers leading decliners 9 to 7 .
Electric Moto (Pink Sheets: EMOT) rebounded strongly closing up 300% at $.02 following the company’s announcement that its CEO was stepping down to pave the way for new management. The former CEO will be filling the roll of Chief Technology Consultant which the company says suits his primary attributes.
Ford Motor Company (NYSE: F) up 6.11% at $4.86 after announcing the US government owes them $445 million due to tax overpayment. There were no additional details on which, if any, retailers were offering to cash Ford’s tax rebate check should their claim be successful.
Advanced Battery Technologies (NASDAQ: ABAT) and Ener1 (AMEX: HEV) lead advancers closing up 4.38% at $5.24 and 4.65% at $6.53 respectively.
SOLAR ENERGY STOCKS
Solar energy stocks closed lower with decliners surpassing advancers 9 to 6 despite strong coverage on solar stocks by the Motley Fool, Fortune and CNBC.
Evolution Solar Corporation (Pink Sheets: EVSO) led the slide closing down 8.45% at $1.30 followed close behind by Akeena Solar (Nasdaq: AKNS) which dropped 6.83% to $4.50 at the close.
Advancers struggled to bring a glimmer of hope to the sector led by Energy Conservation Devices (Nasdaq: ENER) which managed to edge up 2.58% to $67.22 and SunPower Corporation which closed up another 2.53% still basking in the glow of Thursday’s announcement that they will be building two solar plants for Florida Light and Power.
WIND ENERGY STOCKS
The wind energy sector saw decliners blowing by advancers today 7 to 5 but without any double digit moves in either direction.
Welwind Energy International (OTCBB: WWEI) led decliners closing down 6.14% at $.107 with Nacel Energy Corp (OTCBB: NCEN) tagging behind down 4.21% finishing the day at $.11.
Top two gainers were Kaydon Corporation (NYSE: KDN) up 4.31% at 51.74 followed closely by Advanced Battery Technologies (Nasdaq: ABAT) up 4.20% on the day to $5.46.
JUHL Wind (OTCBB: JUHL) began to present its starting trading range ending the day at $2.87, up 3.99%.
FUEL CELL STOCKS
Fuel Cell Stocks imitated Dolly Parton with decliners leading advancers by 9 to 5.
Pacific Fuel Cell Corp (OTCBB: PFCE) gave back more of its advances closing down 20% at $.04.
Hydrogenics Corp (NASDAQ: HYGS) continued to surge closing up 18% at $1.88 as volume jumped back up to about three times higher than average following yesterday’s announcement that they will be providing a hydrogen electrolyzer and fuel cell for the new Renewable Hydrogen Research and Demonstration Centre at the Baglan Energy Park
NUCLEAR ENERGY STOCKS
Nuclear energy stocks suffered a minor meltdown as decliners led gainers 11 to 2. The high percentage of utilities being caught in the downdraft of the Dow accounts for the slide more than anything else.
While most stocks were only down marginally, Urex Energy Corp (OTCBB: URXE) hit double digits down 15.83% at $.055.
Wave Uranium (OTCBB: WAVU), on the other hand split off from the pack closing up 9.52% at $.023 halting the week long slide that saw their stock implode from $.16 on Tuesday down to its current levels.
BIOFUEL STOCKS
Once again decliners continued to lead advancers in the biofuel sector, this time by 7 to 5 as escalating food prices cause concerns regarding the outlook for biofuels.
Greenshift Corporation (OTCBB: GERS) remained highly volatile leading all decliners closing down 21.43% at $.055 followed by Earth Biofuels, Inc. (OTCBB: EBOF) which dropped 15.56% ending at $.0152.
Standouts on the upside were Valcent Products, Inc (OTCBB: VCTPF) closing up 6% at $.53 and Pacific Ethanol (Nasdaq: PEIX) which ended the day up 5.03% at $1.67.
