The market is looking quite sluggish on Monday with minimal gains coming in futures. There is no major economic data, no reporting companies this morning, and only one earnings report this evening. Not a lot of big news is out, and the market is in what I like to call a “show me what you got” mode. Those stocks and companies that are sitting on bullish news should fair well. Others that have been hit by recent downgrades or are overvalued will most likely see pullbacks. 

We have two new plays to start the week. Today, we will also get a Play of the Week and continue to build the $5 portfolio.

 

Buy Pick of the Day: Trina Solar Inc. (TSL)

Analysis: Its a big day for solar companies it appears this morning. The biggest story is coming out of LDK Solar (LDK), who has increased in share price by 10% this morning. The company announced that it will have a wafer capacity of 2.6 GW in 2011, which will continue the company’s reign as the solar company with the largest production capacity. Additionally, Canadian Solar (CSIQ) announced that they have a new CFO and have reiterated their financial outlook. The news comes after Canadian has had repetitive problems with financial reports being skewed and a lawsuit over the company’s finances. Finally, Suntech Power (STP) is getting a nice boost after announcing they were starting production today in the USA.

With a number of positive solar stories breaking today, one company that could benefit from a sector move higher is Trina Solar. One of the leaders in the industry, as far as cost per MW produced, Trina does not have any big news breaking this morning, but several companies in the sector are already hitting over 3% gains or more in pre-market trading. Trina, however, is around 1% to 1.5%. Over the past two weeks, the company has seen its share price drop 5%, and it sitting with some actual room for growth to the upside. 

With the sector looking up, it should take TSL higher with it. The market, as a whole, does not look like its going to explode higher today; however, it also does not look like it will make significant moves lower. The solar sector has some very positive stories out there this morning, and they will definitely help TSL. On the technical side, TSL has around 6% movement to the…
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