Defensive

CME Group went on the defensive Wednesday after The Wall Street Journal (WSJ) in a front-page expose said high-speed traders using powerful computers are trying to profit from being able to see their own futures market orders executed milliseconds before the rest of the market is able to see them.

Pacific Gas and Electric Co. was placed on the defensive last week by reports that suggested that as recently as four years ago the combination utility was encouraging workers to defer natural gas pipeline leak repairs. The combination utility responded and said it took exception to the allegations, which date back to 2008.

Although there is no direct link to the catastrophic San Bruno pipeline rupture and explosion nearly two years ago, Pacific Gas and Electric Co. again was placed on the defensive by local news reports Tuesday suggesting that as recently as four years ago the combination utility was encouraging workers to defer a lot of distribution pipeline leak repairs.

January natural gas rose Tuesday as traders saw it as largely a defensive move by those seeking some price protection should cold weather eventually materialize. At settlement January had risen 10.8 cents to $3.633 and February had gained 9.8 cents to $3.653. January crude oil finished just under the century mark, adding $1.58 to $99.79/bbl.

While Pacific Gas and Electric Co. (PG&E) has proven to be a “solid, defensive” investment play in the midst of national and global economic troubles, California’s deep budget crisis raises new challenges, according to PG&E’s CEO Peter Darbee.

While Pacific Gas and Electric Co. (PG&E) has proven to be a “solid, defensive” investment play in the midst of national and global economic troubles, California’s deep budget crisis raises new challenges, according to PG&E’s CEO Peter Darbee.

Natural gas bulls were back on the defensive yesterday after anearly attempt to push prices to new highs above $3.175 fell short.Once initiated, the downward momentum continued throughout much ofthe trading session, as traders took profits and filled in a chartgap created by Monday’s higher open. May and June contractssuffered a uniform 2.7-cent setback to finish at $3.110 and $3.124respectively.