Featured Trades: (BP), (RIG)
3) Where is the Gulf Oil Going Next? The National Center for Atmospheric Research has posted a nifty video on their website projecting the route of the British Petroleum's (BP) oil spill for the next six months. The good news: much of the oil will miss the Gulf Coast. The bad news: it will get dumped on the east coast instead, no later than August. It will eventually end up in the mid Atlantic, where it will hopefully dissipate, sparing Scotland, where the Gulf Stream ends. Look at the map below of revenue per hotel room showing a tide of red surging across the Gulf coast states. My apologies also for polluting your own portfolio by rushing you into Transocean (RIG) at $52, too early by $15. BP's latest estimate of crude pouring out from the doomed well is a staggering 50,000 barrels a day, up from the initial estimate of 1,000 barrels. That means an Exxon Valdez worth of crude is being dumped into the Gulf every week! Sometimes steals become bigger steals, and catching a falling knife leaves one missing a few fingers. To watch the NCAR video, please click here.