My HCLP position is up another 5% this morning, pressing gains. The agreement to settle the Baker Hughes lawsuit coupled with a six year supply agreement was a big deal.

This partnership is one of the rare examples of me buying into an expensive equity position. I normally toe the line within certain valuations. However, I was willing to pick up the “pricey” HCLP partnership units because I like the prospects going forward. The partnership is small and the fracking revolution is young.

My expectation is for the HCLP and BAS positions to transform into cash cows over the next five years.

My latest position, the partnership HCLP, raised its distribution last night by 3%.

The partnership is on a tear, and I expect that trend to continue well into the future, as fracking kicks into high gear.

We have an energy revolution here. It’s time for the pig-dogs of OPEC to lick our boots.

Just felt you should know HCLP is continuing its run this morning…

Not much else happening though. Silver just took a second blow to the knee, and CCJ is circling the drain.

The CCJ melancholy is a three year recurring melodrama of such bad performance, I’d get up and leave my box if I didn’t own the theatre.

This is a part of the dance, which plays itself out over and over and over again.

Dispair at the state of nuclear power mixed with cowardly shareholders causes a thirty percent flush out, from which data releases eventually overcome and show to be unfounded, until optimism for a resolution of the nuclear energy concerns pushes us back to the top of the range from where the whole, trashy show can get started again.

Burlesque variety of performances have better plot lines than this…

The last round of CCJ earningst that were released showed that realized prices for CCJ’s uranium actually increased year over year, at the same time “market prices” plunged from $50 per lb to the $36 price they command today.

Until I see some data suggesting that Cameco is actually being affected by the doldrums of the rest of the nuclear energy sector, I have no reason to take any of this seriously.

If you are trading BAS, I want you to memorize this passage, which I put up inside of The PPT for the privileged and well connected.

BAS is down 11% at the time of this writing on bad earnings. Bad earnings should be expected with this company, for the moment and into the forseeable future.

As it stands, I actually was pleased with BAS’ earnings, as they were about what I expected. I will break them down later this weekend, when I have time. I will point out; even though the company lost money, their cash level increased from earlier this year. That has a lot to do with why I am in this name in particular, and not one of their competitors.

If you are following along, I caution you to reflect on what kind of person you are. Are you prone to panic? Do you actually understand what’s going on here?

I am in this name because I believe they will emerge, following a great consolidation in the fracking revolution taking place in the US, victorious and on top. I anticipate that they continue to lose money from fierce competition for the time being. It is the floundering deaths of BAS’ competitors that has put pressure on their bottom line, and will continue to do so for the forseeable future.

Just before July 4, I restructured BAS down, selling shares until it was only 7% of my account. I view this price collapse as a buying opportunity. But I want it lower, closer to $10-11.