I'll be the first one to admit I don't much about utilities, but to me, this is a golden opportunity. The more DD I do on this, the more I believe it. Look at BAC today. When people started to make the connection with PCG going belly-up and it's bankers, and what would happen to BAC bottom line. And what about the California banks, who must be involved in some way.
I'm strictly a Nasdaq kind of guy (love those Opticals), but I know a gimmee when I see one. I bought some the other day under 10, been trading in & out of it based on the momentum.
The taxpayers of California are the ones who will pay big either way, not, I believe, PCG. There's a White House meeting on Tuesday on this issue, I can't see President Clinton walking out of the Oval Office and saying, "We've decided to let Pacific Gas & Electric go out of business."
Notice that PCG was green today. Amazing to me how hardly any one on SI is talking about this.
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