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Two stocks I considered for this month's SINLetter and then decided against were Suntech Power Holdings (NYSE:STP) and Syneron Medical (NASDAQ:ELOS).

Suntech Power is a profitable Chinese solar energy company whose revenue is expected to grow 126% this year and who has been awarded an exclusive contract to supply a 130 KW solar energy system for the 2008 Olympic Games that will be held in Beijing. However with the extreme volatility in alternative energy stocks in recent weeks, a shortage in silicon that is required to make solar panels and Suntech's high valuation (P/E of 96.17 and P/S of 15.02), I decided to keep Suntech on my watch list for now.

Syneron Medical is a company that makes aesthetic medical products and has been covered extensively by fellow blogger Subbu in this post and this earlier post from February. While I really like the current valuation of Syneron, I like the valuation and future prospects of Intel (NASDAQ:INTC) much better. Hence Syneron Medical remains on the watch list for now.

STP 1-yr chart:

STP 1-yr chart

ELOS 1-yr chart:

ELOS 1-yr

Source: Suntech Power and Syneron Medical -- Two Stocks That Almost Make My Cut (ELOS, STP)