Tuesday, August 9, 2011

Tuesday Links

The Quest: Energy, Security, and the Remaking of the Modern World. "Renowned energy authority Daniel Yergin continues the riveting story begun in his Pulitzer Prize winning book, The Prize, in this gripping account of the quest for the energy the world needs -- and the power and riches that come with it."

WSJ: "TD Ameritrade, the big online retail stock brokerage, recorded its single biggest day of trading volumes in its history yesterday..."

"Investors appear to selling what they can, not necessarily what they want to. Why should electric utilities like Con Ed and Duke Power track the market down? These are the most boring bond-like equities in the universe."

GDXJ: "Several analysts have harped that gold stocks have been trading at historically very low multiples compared with gold prices, a gap which in the past has prompted equity prices to surge as they play catch up to gold prices."

Hulbert on insider buying: "Further confirmation that the insiders are responding in true contrarian fashion [...] Vickers’ sell-to-buy ratio steadily improved last week as the market dropped. For transactions just last Friday, for example, the day after the Dow’s 513-point plunge, the ratio stood at an extraordinarily bullish 0.33-to-1."

"Texas’ power grid set record level power use for three consecutive days last week. The high demand topped off at 68,294 megawatts on Wednesday. [...] The demand for energy sent prices sky high, topping out at $2,500 per megawatt-hour on Friday afternoon, more than 50 times the on-peak wholesale average, according to the U.S. Energy Information Administration."

"Large liquid names were moving like people HAD to get out. Forced and uneconomic selling is a gift to value investors."

No comments: