God Take The Meeting’s Inventor

Meetings. I am in them all week.

In the morning I arise, don clothing, and sit down at my first before I’ve even had a cup of coffee or tea.

In the afternoon, I rush a lunch, before scurrying off to my next destination.

I get up to go from my last meeting so I can sit at my desk and push papers for twenty minutes.

I watch steadily as the pile grows in the corner, next to the plant.

I see the plant there.

Drip, goes the water off its leaves.

Away with my saturated workload.

So for now I am reduced to grabbing scraps of news and quotes in the five minutes between the time I’m slumped in a board room not getting anything else accomplished.

As for what I’m seeing; I was tempted to cover ERX last week, and for now it appears I should have. However, as I am still predominantly long, it is best to leave the hedge in place.

It is entirely plausible that oil and gas, along with underlying stocks, will retrace here, as energy is overpriced. Or, should affairs become grave, then the oil space will get cut down as it did three years ago (Has it been that long?). In either event, I will be glad I held short ERX.

Yet, the position could become dangerous if oil relaxes gently. As ERX is a short of oil companies, then they could go much higher, depending on how product demand adjusts to the more affordable pricing (business could actually improve for oil companies if oil sells lower and time is always opposed to this sort of trade).

In the ag space, corn is getting crushed, likely thanks to that ridiculous bill that will *end subsidies for ethanol.

Guess what? I’m told that provision is attached to a bill which doesn’t stand an ice cube’s chance in Hell.

And besides, with grain prices being so elevated from what they were and agribusinesses already so moderately priced, the corn sell off does not dramatically affect my position on BG. BG is a screaming buy, it is so unbelievably cheap.

What will likely happen, is the stock price of BG will continue to trade at pathetic levels, until realities force big names to gobble up shares. Perhaps, in a year or so, after BG’s track record is established, you’ll see big institutional investors starting to pick the company up on their radar.

What I know is that, baring catastrophe, BG will break through $100; and it should do so soon.

And, finally, CCJ is starting its ascent. It cannot be much longer now, before the uranium miners rain fallout on nuclear bears portfolios.

Now adieu, friends and faithful readers of the 9th floor. My freedom from this unhappy business of listening, talking and waiting is just two days away.

Pray for me.

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