E Good Day For Bad News

Energy

Oil and oil stocks are back in the doghouse today. The usual suspects, BP, RDS-B, and SLB are lower.

*Future NYSE index stock Tesla was criticized by the National Highway Transportation Safety Administration because the front suspension on many of its vehicles is defective. Luckily the Dow tracking index funds are buying TSLA today on auto-pilot. We sold half our NIO. It is up 1.5%.

*Canadian Solar, CSIQ, is up 4.2%. John Kerry will head the EPA, a serious person for the job.

*Azure Power Global AZRE was the big winner today, up 4.9% on no new news beyond its bang-up Q2 results earlier this month.

*The big loser was Cosan CZZ of Brazil which fell 2.66% on huge volume. We got out in time.

*Cameco of Canada, CCJ, is up another 0.8%, over $10 again because nuclear is the clean-energy answer. UUUU, Energy Fuels, is a loser, down 4.65%. Now in my IRA I will buy for my main acct.

*Eduardo Garcia writes in Sentidocomun.co.mx that Orbia Advance Corp made a first buy from its new risk capital startup fund, putting $3 mn into SeeTree, an agritech firm. MXCHF.

*Cross border power co Algonquin is up 0.8%. Its sister firm Atlantica Yield, of Britain, is down 2%. AQN is for growth and AY for yield. They are investing in Spanish windmills like Don Quixote.

*Veolia, VEOEY, is up 2.1% after a note about its Suez plans was published by Dow-Jones. It is a gamble as the result depends on the French courts. Yesterday the bailiffs seized documents from Engie, which it bought to get a position in the rival ute.

Finance

*Hong Kong's Hang Seng Bank, which runs the index there, gained 14.8% today. HSNGF is not being treated as badly as AIA Group Asia, AAIGF which rose at the opening but now is down 1.23%.

*Banco Latinoamericano de Comercio Exterieur of Panama is down. The BLX accumulators of San Diego are not working today.

*Scotiabank is up 0.3%.

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William K. 3 months ago Member's comment

Too bad about the drug tests not being quite right. If that was the hateful double-blind test, while perhaps the old folks got all of the fake medicine. No telling because the whole concept is so very wicked and cruel. But the back-tracking certainly dispels confidence.

Kurt Benson 3 months ago Member's comment

It seems to me, once the truth came out, it was BETTER news. Due to an error, a smaller group of test subjects accidentally received an initial half dose, instead of a full dose. But those individuals ended up with 90% efficacy. Far better than the 62% efficacy from the other participants that had the full dose (and the 70% average that they advertised). Now they will redo the trial, but this time will intentionally use a half dose. The result should be 90% efficacy.

Ayelet Wolf 3 months ago Member's comment

I thought this as well. 90% efficacy is almost as good as the 95% efficacy of the #Pfizer and #Moderna vaccines. But is a much cheaper alternative. Bullish on $AZN