Are they the culprit?
Though this was an extremely unusual weather event, there will be lessons to be learned from it to alleviate things in the future.
[Friday-morning update]
No, AOC, the Green New Deal is not the solution for the Texas blackouts.
[Bumped]
[Update a while later]
Good news from Texas:
At what point do we realize that he is dangerously insane?
He does seem to have too much money. I think it was stupid of Buffett to farm out his philanthropy to him.
It’s behind a paywall, but that’s the hed of an editorial at Bloomberg News.
“…in human history.”
What matters is not who does it first, but who does it best, and why they’re doing it.
Ezra Klein misapprehends them.
To be fair, Ezra is an equal-opportunity misapprehender.
The Redditers are going after silver now.
Kind of wishing I hadn’t opened a new Iron Condor on it on Friday (February expiry). So I’m both short and long, betting it will stay within a range for less than three weeks.
It spiked up against resistance late day, but closed below that point, at $25.33 on the ETF. In order for it to gap through my stop in the morning, it would have to jump about 7% at the open, which would break a seventeen-year high from 2013. As long as it doesn’t do that, there will be huge resistance at ~$27. So I’ll be OK if they don’t bid the price up there before the 19th.
[Afternoon update]
Another story. Note that futures did in fact surge almost seven percent, but the underlying did not. On Thursday, it went from $23.34 to $24.72, with a smaller rise on Friday when it ran into resistance. Futures spiked to $27.79, near a September high, but retreated to $26.96 at the close. They spiked at the open tonight to an August high of $29.27, but then retreated again.
Since the futures have been tracking over two bucks ahead of the underlying, I don’t think it will gap through my stop (which would be worst case, since I don’t know how much money I’ll lose, because it depends on how large the gap is), at least at the open. Whether it can hold out until the 19th, when the spread expires, is another question.
[Update a few minutes later]
It’s also worth noting that, while the jump last week was big, it closed Friday at a price from which it had plunged on January 5th, so it wasn’t necessarily a surprise that it would go back to that level. The question is whether it will break it. It did for the futures this evening, so it may well, but it still has the stronger resistance at ~$27.
[Monday-morning update]
Welp, it did gap through the 2013 high, and I did get stopped out of the trade, but at the stop, so could have been worse.
[Bumped]
Update just before market close]
Dang. If I’d moved my stop up, just a little bit, to that previous seven-year high, I’d still be in the trade, because it retreated when it got there.
He’s back, in all of his tone-deaf glory.
Forget the fact that to first order, there are no solar-panel manufacturers here. Has anyone done an economic analysis of shifting from a high-density energy source to a low one? Kerry et al say that solar-panel production is the one in which jobs are growing fastest, but that’s meaningless outside the context of how many there are, or how low labor productivity they are in energy production, compared to gas and oil. It’s easy to grow something that is minuscule fast, but that doesn’t solve the problems of all the people Biden just threw out of work.