Steering into the Skid, and everbody goes away happy...
March 16, 2011
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RELATED TICKERS: YRCW
, ESLRQ
A few musings for today... but first a disclaimer. Any comments below regarding the plight of the Japanese people are not meant to make light of their situation, merely to offer comment on the rest of world's reaction.
YRCW
It may be March and much of our roads may be free of ice and snow but YRCW has found itself in yet another skid... This one look serious, but don't they always? The expression I saw on a yellow driver in traffic on the way home last night said volumes... He was yawning as he waiting to turn into a freight terminal, in otherwords its all in days work. This makes me wonder whether steering into the skid (risking a little in this darkest of hours) might not be reasonable so long as its done in moderation.
JAPAN
My take on the situation in Japan is that everyone gets to go away happy (except of course for the thousands of dead, injured, and displaced)... After all this seems like the perfect pretext for the bears to get their double-dip, while also allowing the bulls to have an easy out. We no longer have to argue over whether the cure is worse than the illness, we have another new injury onto which to project our attention. Bears can argue that were we really to be on the mend then this would have been a hiccup, Bulls can argue that this occurred at the point just before the corner was to be fully turned and as a consequence their well planned schemes were laid to waste. Both are vindicated in their own minds.
ESLR
I'm not sure if I heard correctly but I seem to recall that something like 60% of the worlds high-grade silicon is produced in Japan. Makes one wonder whether this earthquake was the kind of tectonic shift necessary to make ESLR a viable concern going forward. Recall that their processes use and waste a whole lot less silicon than any competitors, but the merits of this approach were mitigated by falling raw material costs over the last few years.
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