The Rising Influence of Rising Affluence

[wow_happens28]

US to quit using coal for energy?

Here is a cyber friend of mine who posts on another site. He just retired as a legal consulatant to energy conpanies. He is a great stock man as well, just read his post and look at his charts. What do we use if not coal for electric plants? Prices will go up. How do we capitalize in investing if what he says is true?

Old Fool>>>>>>>

Oh - I am still around and just sitting on my thumbs and waiting. I will debate the Permabull characterization. Quote from my post on 5/8/11

"I have been selling off some of my final pieces of the runners over the past couple of years and further aligning my long and short-term portfolio with the retirement scenario. Moving into cash in the trading port and cash and dividend payers in the LT (mostly tax deferred) port. I believe I have a reasonable balance - up or down."


That is still my position. I am about 90% cash in the TP and 30% cash in the LT port. Feeding a few bucks to dividend stocks on big downwash days. The direction has been obvious to a blind man for the past month so I have not felt much pressure to post. Beside, I have been very busy - so much for semi-retirement.


My retirement announcement along with some significant EPA action has kicked a bunch of law firms into action. A bunch of retainer letters arrived the week following my announcement. Then EPA started dropping a bunch of new rule proposals that are very onerous. Their most recent action on the utility industry will shut down about 20% of the coal fired plants in this country and prevent ANY new ones from being built. Needless to say, folks in the business are kind of excited. So I have been working my a$$ off in semi-retirement. And - hold on to your wallet. The clear objective of this Administration is to shut down coal - period - end of discussion.

We are in a bear hug - no doubt about it. Greece (and the rest of Europe) is a big part of it but not all. The average American is really downbeat and that is reflected in the markets and charts. I plan to hang out until there is some decent signal. I do not plan to play the short side because I do not have time to tend the position.

I have tried to keep up with the charts most every night and the link is below. No comment is necessary if you can see.

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2071209

Have a good evening,

The Old Fool