Alternative energy stocks closed down as the Dow got hit following gloomy reports from GM combined with surging oil over renewed concerns after Washington set the weekend as a deadline for key crude producer Iran to reply to an international offer of incentives for a freeze in its nuclear drive. The Dow closed down .45% to 11,326.32 as oil rose to 128.60 dollars per barrel, before pulling back to stand at 126.76, up 2.68 dollars from Thursday’s close. Note to self: Never be dependent upon a group of wacko suicidal despots and world class oppressive dictators for your primary energy supply. Overall, volumes continued lighter as the summer led into its peak time and most of Europe goes on holiday. Additional nervousness came from the gridlock in Congress where the bill to renew the investment tax credits for renewable energies is being blocked. Check out our blog (look to the right of the page) for articles pertaining to this mess.
BIOFUEL STOCKS
The Biofuel sector turned around again and managed to hold on to modest gains as advancers led decliners 7 to 4.
Earth Biofuels Inc (OTCBB: EBOF) was the top gainer today closing up 11.11% at $.01 on very light volume.
Gushan Environmental Energy Limited (NYSE: GU) opened lower but recovered mid-day and managed to close with a 2.74% gain at $12.37 despite the fact, or perhaps because, it announced that they were suspending their Beijing Operations until September due to extreme restrictions on traffic and security, environmental controls to name a few.
W2 Energy was another top gainer ending the week at $.056 up 7.69% on the day.
Xethanol Corporation (AMEX: XNL) and Raven Biofuels (OTCBB: RVBF) both finished today’s session down an identical 4.55% at $.42. What are the chances of that happening again?
WIND ENERGY STOCKS
A chill blew through the Wind energy sector today as decliners led advancers 9 to 5.
Americas Wind Energy (OTCBB: AWNE) was the lead gainer closing up another 5.94% at $.339.
Juhl Wind Inc. (OTCBB: JUHL) managed to close up 3.70% at $4.20 on light trading after Monday’s CEO Dan Juhl’s appearance on Fox Cable News’s Neil Cavuto’s show.
Mass Megawat Wind (OTCBB: MMGW) opened up then dropped into the red and struggled but failed to get any traction as it fell 1.419% to close at $1.44. Not very friendly for a company that just reported its first revenue producing year on Wednesday.
Constellation Energy Group, Inc. (NYSE: CEG) was another noteworthy loser closing down 5.12% to $78.90.
SOLAR ENERGY STOCKS
The Solar energy stocks must have been effected by the total eclipse of the sun as well as decliners far outdistanced advancers 13 to 3.
The brightest light among solar issues was Solar Thin Films (OTCBB: SLTN) closing up 7.41% to $.87. The big spread on this issue also makes the stock look more volatile than it really is.
Ascent Solar Technologies Inc (Nasdaq: ASTI) was the other top gainer ending the day up 3.61% at $8.90
BioSolar Inc (OTCBB: BSRC) led solar stocks on the downside finishing the session down 7.78% to $.332.
Evergreen Solar Inc. (Nasdaq: ESLR) was another stock at the head of the long list of decliners ending the day down 2.25% at $9.13.
GEOTHERMAL STOCKS
Only two stocks within the geothermal sector managed to hold on to remain in the win column compared to 7 who saw their stocks retreating.
Sierra Geothermal Power Corp (CDNX: SRA.V) had a good day today closing up 5.19% to $.405.
US Geothermal Inc (Amex: HTM) lead the decliners closing down 5.91 to $2.23 followed by Ormat Technologies (NYSE: ORA) which saw its stock fall by 4.91 to $45.66 at the end of the day.
LITHIUM-ION STOCKS
Lithium-ion stocks also experienced almost across the board losses as 12 issued declined and only 4 managed to move up a little.
ZAP (OTCBB: ZAAP) had another good day finishing up 4.94% at $.85 following their bold move upward on the announcement that they had teamed up with Sonoma County to spark interest for electric vehicles in County use.
Altair Nanotechnologies (Nasdaq: ALTI) was the other respectable winner for the day closing up 4.85% at $2.81.
On the loser side of the ledger, Electric Moto (Pink Sheets: EMOT*) saw sellers being more enthusiastic than buyers and fell 15.56% to settle at $.019 while
General Motors (NYSE: GM) took a bit of a beating 7.59% down to $10.23 of for losing $15.5 Billion loss for the quarter, the worst in its history. One has to wonder if either of the other record losing quarters had anything to do with the introduction of the Chevy Vega.
FUEL CELL STOCKS
Fuel Cell stocks also had a difficult day as decliners led advancers 8 to 3.
UQM Technologies Inc (Amex: UQM) beat out all other fuel cell stocks finishing up 9.82% at $2.46 following the release of their second quarter 2008 financials on Thursday.
Quantum Fuel Systems Technologies Worldwide (Nasdaq: QTWW) was the top loser falling again today falling another 7.3% to $1.65 followed by Hoku Scientific (Nasdaq: HOKU) which filed their second quarter financials as well on Thursday and took a 4.11% hit today closing at $6.06.
NUCLEAR ENERGY STOCKS
The nuclear energy sector was hit by an abundance of sellers and a dearth of buyers today as decliners overwhelmed advancers 11 to 2.
Thorium Power ignored the trends and drove strongly upward in anticipation of their announced conference call update on Monday. The stock finished up 16.67 % at $.28 on heavy volume. This would be a stock to watch on Monday, especially for day traders. Thorium Power was one of our daily Power Plays.
Urex Energy Corp (OTCBB: UREX) also enjoyed the day, even considering light volume as the stock closed up 20% at $.06.
Wave Uranium continued to come under heavy pressure losing another 40% and closing under a penny at $.009. Painful stuff for a stock that started the year at $2.00 and was still at $1.45 in early March.
Constellation Energy (NYSE: CEG) also struggled losing 5.12% and closing at $78.90
