Thursday, January 25, 2007
Playing the speech
Ethanol stocks got a nice pop early this week. So did oil. The moves were plays on the President's speech. Reducing gasoline consumption by 20 percent in 10 years is bound to do something for ethanol companies. And doubling the Strategic Petroleum Reserve means the US will be in the market buying, adding to overall demand and driving up prices. The news on those initiatives came out in dribs and drabs while the market was still working yesterday ... hence the run up. Of course, if the government was a private company, the SEC would be sniffing about wondering who leaked info to certain investors before the world at large. Wonder if any senators, who typically get a heads up on White House initiatives, bought up any PEIX, VSE, or XTHN in the last couple of days? Interesting note ... Bill Gates bought into ethanol about a year ago.
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