This morning we are staying in Hoku Scientific, Inc. (NASDAQ: HOKU). We got into HOKU again around $5.45 earlier this week. It was showing great relative strength in a bad tape this week.
Hoku and Solargiga Sign $455 Million Polysilicon Supply Contract POCATELLO, ID and HONG KONG -- (Marketwire) -- 09/04/08 -- Hoku Materials, Inc., a wholly owned subsidiary of Hoku Scientific, Inc. (NASDAQ: HOKU) established to manufacture and sell polysilicon for the solar market, and Wealthy Rise International, Ltd., a wholly owned subsidiary of Solargiga Energy Holdings, Ltd. (HKG: 0757), a manufacturer of monocrystalline ingots and wafers in China, today announced the signing of a definitive contract for Hoku's sale and delivery of polysilicon to Solargiga over a ten-year period begin...
We first caught HOKU at $5.68. We don't expect a big move today, but we are looking to lighten our position by the end of the day. We suggested a stop just under $6 on 8/26/2008 to protect profits. We would have been stopped out of mos
We are sticking with yesterday's Pick of the Day, which closed up over 4.5% and is up today again. A really BULLISH sign is that institutional buying has just come into HOKU yesterday:
The chart is looking good as HOKU is just getting about the 50 day Moving Average:
The STOCHASTICS are looking good, though we could see a pullback as the %D (White Line) gets higher. The %K (Red line) is already over 80, which can signal a top in the stock. We are going to watch the volume clos
Hoku Updates Plant Financing Strategy, Reports Polysilicon Production Fully Allocated
Hoku Materials, Inc., a wholly owned subsidiary of Hoku Scientific, Inc. (NASDAQ: HOKU), established to manufacture and sell polysilicon for the solar market, and Jiangxi Kinko Energy Company, Ltd., a manufacturer of silicon ingots, wafers and related products in China, today announced the signing of a definitive contract for Hoku's sale and delivery of solar-grade polysilicon to Kinko Energy over a ten-year period beginning in late-2009.
According to the contract, up to approximately $298 million
Hoku Scientific, Inc., through its subsidiaries, operates as a materials science company. It focuses on the manufacture of polysilicon, which is used in photovoltaic (PV) modules; and design, engineering, and installation of turnkey PV systems and related services using solar modules purchased from third party suppliers. The company also designs, develops, and manufactures membranes, and membrane electrode assemblies for proton exchange membrane fuel cells. Its membrane electrode assemblies are designed for the residential primary power, commercial back-up, and automotive hydrogen fuel cell...
Company building Plant to sell silicone chips--a product that is in high demand and short supply--many customers have invested in plant so they can be assured of product when plant is completed later this year
PS--If you like buy-writes ,this is a great situation as call prices are are very high--you will be paid as you wait for the plant completion as I have for many months now
The company is building a plant to produce a product that is in short supply and has huge present and future demand.They recently received additional financing from one of their largest future customers.
Options are expensive so covered call writing can enhance one's return considerably
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