MG, Water, Water everywhere and not a drop to drink.
Clearly, the media has joined in the parade that this is an isolated problem affecting the sixth largest economy in the world. Out here, in the swamp, it is not an electricity problem but a water one. Our county consumes some 1M gallons of the stuff a day, while we got a phosphate plant up stream consuming the same amount. Bet we export this one to you!
Our electric bill last month (all-electric) was about $125. The water bill jumped 50% to the same amount. We can probably live without electricity but not without water. This issue will be the one to watch. Of course, then we can talk about whether you can drink it? The bottom line is that we got some huge infrastructure problems in the good ole' USA that really need some attention.
More on point, glad to see the futures up this a.m. and really hope it holds. The last line I got in the sand on the Q's is about $54.30, after that it gets real tough, as I would have to move to my monthly charts and I don't even want to go there. Got the Phleet at about 30% in the Q's at $58.20 (the open on Friday as my orders were placed GTC). I'll double up below $55 and I'll bring them back into port anywhere close to the weekly down trend line. My real concern here is that Dubya & Co will be willing to trash the market to get their desired tax cut plan enacted.
If we don't hold here, down is a long way (and TM is enjoying this way too much).
Berney |
