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$HSOL made it to my watchlist a while ago, on July 8th I first mentioned it going up on good financial results. The first few days it kept uptrending but than it stopped really moving.

The news that pumped the whole Chinese solar sector was that China and the European Union announced that they had reached a deal to avoid EU tariffs on Chinese solar panels over the weekend.

You can read more about this here. Excerpt from the article:

The accord would set a minimum price for imports of the renewable-energy technology from China. In return, Chinese manufacturers would be spared EU levies meant to counter below-cost sales, a practice known as dumping… The accord would fix a minimum price of 56 euro cents a watt for annual imports from China of as much as 7 gigawatts, said a trade official in Europe who spoke on condition of anonymity because the information hasn’t been publicly announced yet.

So after this news coming out I started looking at several solar companies again, soon focusing mainly on HSOL and SOL, as they seemed to be reacting the most.

Company profile:

Hanwha Solarone Co., Ltd., an investment holding company, engages in the manufacture and sale of silicon ingots, silicon wafers, photovoltaic (PV) cells, and PV modules. It provides mono crystalline and multi crystalline silicon cells; PV module processing services; and construction services to build solar power systems. The company offers PV modules primarily under the SolarOne brand. It sells PV cells and PV modules directly to system integrators and through third party distributors principally in Germany, the United States, China, India, Korea, Japan, and Italy. The company was formerly known as Solarfun Power Holdings Co., Ltd. and changed its name to Hanwha SolarOne Co., Ltd. in December 2010. Hanwha Solarone Co., Ltd. was founded in 2004 and is headquartered in Qidong, the People’s Republic of China.

HSOL has connections in Europe which is a good think regarding the news coming out is the catalyst for trading this.

How did I trade it:

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