Corrects share price data for Clean Energy Fuels. By Kevin Grewal, Contributing Analyst at www.smartstops.netThe future of cleaner renewable energy looks extremely bright after receiving a big boost. Los Angeles Mayors Antonio Villaraigosa recently announced that he wants Los Angeles to completely eliminate the use of electricity made from coal by 2020 and replace it with cleaner renewable energy sources. This a huge boost for the industry because the Los Angeles Department of Water and Power (LADWP) is the largest city-owned utility in the U.S. with 1.45 million customers. As of now, LADWP gets nearly 40% of its electricity from coal-powered plants outside of the state, with the remaining 60% from natural gas, nuclear, and large hydroelectric sources. By 2020, the LADWP is expected to 40% renewable power, a huge plus for the industry. In addition, the House of Representative recently passed the Waxman-Clean Energy Bill which requires electric utilities to meet 20% of their electricity demand through renewable energy sources by 2020, puts mandates on buildings, appliances and industry to meet new-energy saving standards, and includes a measure to invest nearly $190 billion in new clean energy technologies to aid in the production of energy efficiency and a reduction in carbon emissions. These initiatives could provide opportunities for these equities: PowerShares WilderHill Clean Energy ( PBW), which closed Thursday at $8.94, up 53% since a March low of $5.87. PowerShares Global Clean Energy ETF ( PBD), which rebounded nicely to close at $13.88 on July 9, a 59% jump since a March low of $8.73.
Suntech Power Holdings ( STP), which closed at $15.63 on Thursday, up 300% from its March low of $5.21 on July 9 Covanta Holding ( CVA), which closing at $16.38 on Thursday, a 27% jump from its March low of $12.92. Clean Energy Fuels ( CLNE), which closed at $8.40 on Thursday, up from its 52-week low of $3. Cree ( CREE), which has rallied from a January low of $16.49 to close at $27.42, up 66%. Although it appears one can't lose with these phenomenal gains in renewable clean energy, it's important to bear in mind the risks involved in trading with these equities. The best way to minimiz these risks is to have an exit strategy. According to the latest data from www.SmartStops.net here are the price levels where the uptrend of these stocks would be over: PBW at $8.89; PBD at $13.33; STP at $14.41; CVA at $15.31; CLNE at $7.53. You can track the daily changes and retreive other updated data at www.SmartStops.net.