Is the Bear Raid Finally Over for First Solar?

Did the bears know that First Solar (FSLR - commentary - Cramer's Take) would be under attack in The Wall Street Journal for competition to its thin-film model relative to the less-valuable silicate solar solution?

Sure seems that way. This stock has been on a relentless downturn. Every shadow imaginable has come out to drive this one down: possible end of German subsidies, woes about competition as Applied Materials (AMAT - commentary - Cramer's Take) makes machines that can offer a way to compete with FSLR's thin-film technology, worries about toxins in the panels, and massive insider selling by the CEO. I am really only concerned with the latter, as I am not worried that Germany will back away or the toxins will trump FSLR's orders. I hate that level of insider selling, though, because it makes you presume that you will be labeled a chump for not looking at it if the earnings get cracked. And eventually you have to believe that FLSR will have to lower its average selling price for its materials if it is to remain competitive with wind and natural gas.

But this story today seems to have no impact, which typically means that the negatives are baked in and that the short story is running its course. In its place, I suspect, are going to be some very big California contracts, some Obama hoopla and some great earnings.

I have marveled that this stock has performed so poorly with this new $130 oil umbrella.

Maybe the raid is over at last, and it is good for a trade for 20 or 30 points as long as oil stays up here.

At the time of publication, Cramer had no positions in the stocks mentioned.

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