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Solar Sector Plunges Right Along With Market

Posted on July 07, 2008

For most of June, many solar stocks held up well even as the major market indices sold off every week. June 26th was a major breaking point. The S&P 500 broke down by -2.9% and the NASDAQ dropped by -3.3%, and the deepening bearish mood took down the solar stocks en masse. TAN, the Claymore/MAC Global Solar Energy Index, plunged -5.7%, and KWT, the Market Vectors Solar Energy ETF, plunged -4.8%.Everything has been downhill ever since, even though oil has continued to break records and natural gas continues straight up (the coal fever finally broke in spectacular fashion last week, but expectat...

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bear market , etf , gas , oil , sp