Just before the market closed, Sen. Kerry introduced a Senate bill that requires ALL new coal fired plants to be built with "integrated gas" clean coal technology. That's great for GE, not BTU. It means that coal plants already in the pipeline are going to suffer delays while the bill is debated. You can bet GE and the environmental lobby are going to load all kinds of requirements into it. Meanwhile, the effort to give coal a bad name is going to redouble as environmentalists try to make sure that the bill passes. But my GE shares should do GREAT! Maybe whoever bid $50 didn't get the message.
The 1st qtr GDP number will probably shape tomorrow's trading. The number I keep hearing is 1.8%. With all the companies beating consensus, I am leaning toward a number higher than this. With a bad number expected, it seems like a can't lose situation.
We heard the same thing coming out prior to the earnings season. Sometimes the bar is set so low that things look pretty rosy when companies announce.
You make a good point. But, if it comes out 1.8 the first reaction will be to sell. I will add a little more on the dip because the GDP number is ancient history the momment it is reported. Looking ahead to next quarter is all that matters. I think the market will see the glass half full and buy.