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Energy Conversion Devices Inc. (ENER)

Energy Conversion Devices, Inc. (Nasdaq: ENER) manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. Distributed globally under the UNI-SOLAR® brand, the company’s products are ideally suited for cost-effective solutions for roofing applications because they are lightweight, durable, flexible, can be integrated directly with building materials, and generate more energy in real-world conditions.

ECD also pioneers other alternative technologies, including a new type of nonvolatile digital memory technology that is significantly faster and less expensive, ideal for use in a variety of applications, including cell phones, digital cameras and personal computers.

quoted from their website. ECD ovonic

This is a stock that I’ve been following since December 2007 when the price was in the mid $20 range. The company has been doing the right thing in the first half of 2008 & I’m confident that it will continue for some time. Unfortunately the rest of the economy is looking horrible & the market is taken a beaten. The profit takers(including myself) have caused the price to correct itself to a point to where I will be getting back into the stock. The cost basis that I’m looking at is $62-$65 range, I know this stock in due time will be on a tear toward $100 & beyond. In the meantime I’ll be watching for the dips for me to buy more.

Remember to not buy all of your position at once. Sit back & expect pull-backs, where you will pick up more incrementally. The stock will be going up in due time, just be patient & enjoy the ride.

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