Dan Dicker, Energy contributor for TheStreet, notes with Jim Cramer the recent turn of political pressure and activity against fossil fuels. The recent win of Liberal Justin Trudeau in Canada for Prime Minister means that several oil sands pipeline projects are likely to be slowed if not ended. Meanwhile President Obama has cancelled the remaining two auctions for Alaskan oil leases in the aftermath of the Shell oil failure. Congressional leaders are talking about beginning a probe into Exxon (XOM) private research showing the long-term effects of fossil fuels on climate change, research that Exxon knowingly suppressed. All of these events indicate a political change in the view towards fossil fuels and a tougher and longer road back to profitability for many of them.
More from Video
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Breaking down an approach to the long side of this biotech stock.