Jim, again, I should have kept my morning shorts a little longer. An amazing first trading day of the year, and the astute traders here made some nice coin.
I am still looking for a few long signals, not enough to give a buy on the indexes, but that can change fast.
SPX could hit 1125 on a real bad day, I would think that would be a bear market super bottom indicator. If it were to break 1100, then I would re-evaluate, but things like stock indexes always tend to overshoot, on the upside, as we have seen, and on the downside, which we are riding now.
As for electric power, nuclear plants are cost prohibitive, and have enormous contained shut down costs, so I am not looking for any new ones here, unless there are some big regulatory changes, but even then, doubtful. The growth has been in the natgas fired plants, which has in turn led to the expanded demands on natgas, which has led to the 4x in natgas prices the last 12 months, it all hit the wall at once, cold winter and low supplies, which has all been a very logical series of events.
Look for more coal plants to be built, and that also leads one to coal producers and pollution controls that they must have to operate.
We have water shortages in the southwestern US right now. There is an uproar now about farmers selling their water rights to water boards. Evidently, everyone who lives in the desert & S. Calif. thinks water should be endless and free! Californians are getting an education about the facts of energy the past month, and if PG+E is allowed to go bk, we will see stories similar to that India story in Calif.
quote.bloomberg.com
Check out WCS, been dancing around a new high set last week.
I don't own any, one of my son's has shares he got last summer after talking to a friend that works there. What do you think, hold or sell? |
