Waiting more.
The wait continues. Waiting for Hoku Scientific (HOKU) to drop to $10, or $9, is not going well. After the reecnt run-up, HOKU seemed prime for a pullback. Instead, the PPS ran to nearly $13 before taking a much-needed breather today.
The stock traded down 5% to $12.01 today. Still, the solar sector continues to scorch shorties. How many longs can truly say they knew this was coming? Sure, China is in major solar-energy development mode. One of Hoku's bigger contracts is with a Chinese company, naturally. The move by solar defies normal convention. Even Barron's writer Eric Savitz is dumbfounded.
Me? I just want a nice entry point. Heck, if a Hawaii company is going to go gangbusters in the market, I want to be in. Especially a Co run by a guy who played high school baseball in the islands. In fact, I covered prep baseball on the Big Island when Hoku CEO Dustin Shindo played for the Waiakea Warriors. I think Tommy Correa was the coach at the time.
Anyway, a toast to Hoku Scientific. A star in the making. I might have to pay up for a real star like Hoku.
Disclaimer: Pupule Paul has no position in HOKU.
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