Monday, February 05, 2007

I've been watching you Ormat (ORA) and Atheros (ATHR)

Here is a stock that I've been watching for a long time. Ormat Tech. is a subsidiary of Ormat Industries, an Israeli company that builds geothermal plants for energy generation. ORA has been in a tight consolidation for almost a year. I've kept an eye on it because I like what the company does and I've also felt that if it could bust out of the flat base that it was in, ORA could really take off.

Well it seems that Bush's budget proposal gave Ormat the kick-start that it needed, promising tons of money for alternative energy. It will have to prove itself to me, but things are looking good. I also expect the budget to have a positive effect on MEMC Electronics (WFR).

Atheros (Athr) has also been on my watch list for a while now too. It has endured a large and long price correction that looks to have ended. Athr broke out of a cup-with-handle pattern today. I won't chase it because I already own a similar company, Silicon Motion (SIMO), that had another huge day today.

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