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2006-09-07 :: Back From Alaska

Hi all,

I returned from a week of fishing, boating, white water rafting and wolf watching in Alaska yesterday afternoon.  The blog entries will resume either later today or tomorrow.

In the news was a big announcement from Chevron and Devon Energy of a huge new oil field discovered in the deep waters of the Gulf of Mexico.  This sent Devon shares (which is one of the companies we added to various portfolios this summer) up significantly higher as their reserves increased significantly.  This is the sort of news that you can expect, and that we’ve discussed here in previous postings, with oil above $70.  Companies can afford to develope oil fields that were unprofitable at $30 oil.

Additionally, the cyclical stocks have outperformed the defensive stocks over the last week. 

More later!