Posts Tagged ‘Fukushima’

Weekend Reading – The Good, the Bad and Fukushima

Hey, remember Fukushima? 

Arnie Gundersen is freaking me out!  Gundersen is no tin-foil hat guy, he’s the chief engineer of energy consulting company Fairewinds Associates and a former nuclear power industry executive who served as an expert witness in the investigation of the Three Mile Island accident.  Gundersen has said that the U.S. nuclear industry and regulators need to reexamine disaster planning and worst-case scenarios, especially in reactors such as Vermont Yankee, which have the same design as the crippled nuclear plant at the center of the 2011 Japanese Fukushima nuclear emergency. Vermont Yankee and similar plants are vulnerable to a similar cascade of events as in Japan.

The Nikkei had fallen down to 8,227 from 10,678 (23%) at the quake and has since recovered 10,017 on May 2nd but was back to 9,648 on Friday (3.6% off the bounce) and the 50 dma has now formed an aptly-named "death cross" below the 200 dma.  Japan is already on the hook for $124Bn from the earthquake and will also have to cover TEPCO’s $31Bn (so far) liability as the alternative is let the country’s biggest energy supplier go bankrupt and that would be lights out on their economy.    

Warning: Do not watch this video on a full stomach:  

This is one of the things holding down the financials as there is no way to know right now, what the real damages are going to be from this ongoing disaster for the insurance companies (and the banks that lend them money).  As Gundersen observed on Friday and as is not being reported officially, two other reactors are seriously damaged.  A worker at the plant dropped dead on Saturday and Japanese banks and Insurance companies are all suffering with Daiici Life’s net profit down 66% from last year due to the accident.  

Accident is a funny word isn’t it?  With 435 active plant and 250 more under construction, even if they are 99.9% safe, that would still mean we get an accident like this every year.  Hopefully they are 99.99% safe and we only have a major catastrophe every 10 years – wouldn’t that be nice but, so far, that’s not the case as we’ve had about 16 in 50 years with 9 of those considered "major."  So accident applies to this situation in the same way
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Fuel rods ejected 2 miles ! Update on Fukushima

5/3/2011 — Fuel rods ejected 2 miles ! Update on Fukushima – Fairewinds Associates, Inc.


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Nuclear Eruptions and Health Effects

Japan’s Nuclear Volcano Erupts

Courtesy of MIKE WHITNEY

Shares plunged across Europe, Asia and the United States on Tuesday as the crisis at the Fukushima Daiichi nuclear plant deepened and Japan’s Nuclear and Industrial Safety Agency raised its radiological event scale to its highest level. Conditions at the stricken facility have steadily deteriorated despite the valiant efforts of emergency workers.  The station continues to spew lethal amounts of radiation and other toxins into the atmosphere and around the world. A French nuclear group has warned that children and pregnant mothers should protect themselves from the fallout. According to Euractiv:

"The risks associated with iodine-131 contamination in Europe are no longer ‘negligible,’ according to CRIIRAD, a French research body on radioactivity. The NGO is advising pregnant women and infants against ‘risky behavior,’ such as consuming fresh milk or vegetables with large leaves."

The group’s warning underlines the dangers posed by the out-of-control facility which is causing unprecedented damage to earth, sea and sky. But while the disaster continues to grow larger by the day,  the government’s only response has been to expand the evacuation zone and try to shape news to minimize the public backlash.

Emergency crews have braved high levels of radiation to bring the plant back under control, but with little success. A number of violent tremors and a second smaller tsunami have made their jobs nearly impossible. Thousands of gallons of radioactive water that was used as coolant has been flushed into the sea threatening marine life and sensitive habitat. The toxic release of radiation now poses an incalculable risk to the battered fishing industry and to fish-stocks around the world. These costs were never factored in when industry executives and politicians decided to exploit an energy source that can cause cancer, pollute the environment for millennia, and bring the world’s third largest economy to its knees.  

Raising the alert-rating to its highest level is an admission that a “major release of radioactive material with widespread health and environmental effects" has taken place and will likely continue for some time to come. The situation is getting worse by the day. Japan’s government will now insist on the "implementation of planned and extended countermeasures.” In other words, a red alert. The threat to water supplies, food sources, livestock and humans is grave and ongoing. The media’s efforts to protect the nuclear industry by…
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Sawdust and Radioactive Water Dumps: The Increasingly Desperate Options at Fukushima

Courtesy of TIME

By KRISTA MAHR

Leaked water believed contain radation in a photo released by Tokyo Electric Power Company on April 2.

Sawdust. It’s not the first thing most people would choose to put between themselves and highly contaminated radioactive water. But a mixture of sawdust — ogakuzu in Japanese — with chemicals and shredded newspaper is precisely what nuclear safety authorities and power plant officials turned to in trying to plug a 8-inch crack in a shaft near reactor 2 at the Daiichi nuclear power plant in Fukushima over the weekend.

Unfortunately, like the concrete they tried before it, the sawdust didn’t work, and as of Monday, the flow of irradiated water into the sea from the shaft continued unabated. “We have not succeeded yet,” Ken Morita, director of the international affairs office at Japan’s Nuclear and Industrial Safety Agency (NISA), acknowledged to TIME on Monday morning. “We will try again today.”

What will they try next? For the past three weeks, that has been the question hovering in the irradiated air above Fukushima, where each passing day seems to bring a new and unprecedented challenge for the ebattled Tokyo Electric Power Company (TEPCO) to shut down the reactors at the Fukushima nuclear power plant safely.

Since Saturday, when TEPCO announced that workers had detected radioactive water flowing directly into the ocean, the crisis of the hour has been stopping and mitigating the impact of the newly found leak. On Saturday, NISA said it had found seawater about 25 miles south of Fukushima contained twice the normal limits of radioactive iodine. Officials say dye has now been added into the water to be able to trace the movement of leaked radioactive particles, and that workers will be setting up a physical barrier near the plant to try to stop their flow out of the direct area. “There are many important things to do, but in this current situation, many people are focusing on stopping the outflow,” says Morita. “Many options are now under consideration but we have not decided on anything.”

That kind of opacity — whether a symptom of sheer improvisation or a more calculated attempt to cloak the severity of an unsolved problem — has not won TEPCO, or the Japanese authorities, any fans in the international nuclear community. Without more information about what is happening at the crippled plant, nuclear experts outside


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Fatal Radiation Detected Outside Damaged Japanese Reactor – Bloomberg

Radiation levels that can prove fatal were detected outside reactor buildings at Japan’s Fukushima Dai-Ichi plant for the first time, complicating efforts to contain the worst disaster since Chernobyl in 1986.

Water in an underground trench outside the No. 2 reactor had levels exceeding 1 sievert an hour, a spokesman for plant operator Tokyo Electric Power Co. told reporters in the capital yesterday. Exposure to that dose for 30 minutes would trigger nausea and four hours might lead to death within two months, according to the U.S. Environmental Protection Agency.

Preventing the most-contaminated water from leaking into the ground or air is key to containing the spread of radiation beyond the plant. A partial meltdown of fuel rods in the No. 2 reactor probably caused a jump in the readings, Japan’s chief government spokesman said.

“There’s not much good news right now,” said Gennady Pshakin, a former IAEA official based in Obninsk, the site of Russia’s first nuclear power plant. “There’re questions arising on how much fuel will leak out, what isotopes will be carried and how quickly they will settle. It’s becoming less predictable.”

Continue here: Fatal Radiation Detected Outside Damaged Japanese Reactor – Bloomberg.


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Tokyo Electric Finds Plutonium in Soil Near Fukushima Plant – Bloomberg

Tokyo Electric Power Co. found plutonium in soil samples taken near the stricken Fukushima Dai- Ichi nuclear plant a week ago, the company said.

The presence of plutonium outside the plant means there’s been degradation of the fuel in at least one of the six reactors, Denis Flory, deputy director general of safety at the International Atomic Energy Agency, said yesterday at a press briefing in Vienna. Tokyo Electric can’t determine which reactor emitted plutonium, Vice President Sakae Muto said in a briefing shown on a webcast.

The contamination “shouldn’t have any effect on human health,” Muto said.

Soil chemistry may determine whether the plutonium can spread from the site, Edwin Lyman, a radiological specialist for the Union of Concerned Scientists, said on a conference call. Some compounds formed by plutonium are water soluble, and some aren’t, he said.

IAEA Director General Yukiya Amano said there are “mixed signals” coming from emergency repair efforts at Fukushima. “The situation continues to be very serious,” Amano said in Vienna yesterday.

Keep reading here: Tokyo Electric Finds Plutonium in Soil Near Fukushima Plant – Bloomberg.


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Phil's Favorites

Comments on investment philosophy - part one of hopefully a few...

 

Comments on investment philosophy - part one of hopefully a few...

Courtesy of John Hempton, Bronte Capital

This is the first of several investment think pieces I have in my head dealing with investment philosophy, where markets are now and maybe even a stock or two... They are surprisingly hard to write so these posts might come slowly...   When I was starting out in the investment game I read Warren Buffett's letters from inception, Ben Graham, Phil Fisher, anything I could on Charlie Munger and the rest of the standard investing cannon.  ...

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Zero Hedge

Stunning University Of Kansas 'Safe Space' Vs. 'Free Speech' Meeting Caught On Tape

Courtesy of ZeroHedge. View original post here.

Ever wondered just what happens when the immovable object of safe-space-demanding social justice warriors collides with the irresistible force of free-speech-seeking American students? Wonder no longer...

On Thursday night protestors at Kansas University (KU) hijacked a Young Americans for Freedom (YAF) meeting, reportedly unleashing a virulent tirade against the conservative students, providing a glimpse into the crazy arguments of the far Left.

...



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ValueWalk

Buffett's Secret to Great Writing

By Lawrence A. Cunningham. Originally published at ValueWalk.

We all write more than ever today, but do we communicate well?  As one group, corporate directors, pondered how to communicate effectively to shareholders, they  turned to the gold standard.  They wondered, what most distinguishes Warren Buffett’s annual missive to Berkshire Hathaway shareholders, and asked me, as a student of these writings for two decades, for the answer.

]]> Get The Full Warren Buffett Series in PDF

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Clarity, wit and rationality are...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Contagion Risks Rise as China Banks Fund Each Others’ Loans (Bloomberg)

China’s smaller banks have never been more reliant on each other for funding, prompting rating companies to warn of contagion risks in any crisis.

Profit Slump for S&P 500 Heads for a Sixth Straight Quarter (The Wall Street Journal)

The third quarter was supposed to be when earnings growth returned to U.S. companies. Not anymore.

...



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Kimble Charting Solutions

Leading indicator testing key breakout level

Courtesy of Chris Kimble.

The German Stock Market has been a quality leader in both directions the past few years. Below looks at why one might want to keep a “close eye” on this key global stock index, to see if it can hop over a important breakout level.

CLICK ON CHART TO ENLARGE

Similar to the S&P 500 and many stock indices in the states, the DAX index remains inside of a uniform rising 6-year channel, since the 2009 lows.

Th...



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OpTrader

Swing trading portfolio - week of September 26th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Chart School

Weekly Market Recap Sep 25, 2016

Courtesy of Blain.

The week that was…

It was all about the Federal Reserve as we noted it would be.  In last week’s recap we said:

From this perch there has been and continues to be zero expectation for a September rate hike as the Fed doesn’t want to be seen as “political” and trying to move the market ahead of November, but the Fed is at least trying to throw some bones out there to make the market a bit less complacent.

…and:

All eyes on the Federal Reserve with a meeting Tue/Wed and a press conference by Yellen Wednesday.   Since we expect nothing to happen Wednesday in terms of raising rates maybe the market will be in “relief” mode.  Unless there is strong language from Yellen hinting at a December rate hike....



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Members' Corner

Market Liquidity and Macroeconomic Bullshit

 

Market Liquidity and Macroeconomic Bullshit

Courtesy of The Nattering Naybob

STJL - "Apparently macroeconomics is all bullshit – ROFL! Paging Naybob now… Famous Economist Paul Romer Says Macroeconomics Is All Bullshit."

The Nattering One muses... Macroeconomics as practiced by academics and those in charge is pure voodoo. Better to chant over goat blood, bird feathers and scattered entrails...

As for reality, overnight CNH HIBOR (...



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Mapping The Market

Here's a Cautionary Tale of Pension Privatization From Chile

Via Jean-Luc:

"When you let the free market take over, the little people get screwed and bankers get rich. Chile tried privatizing retirement plans and surprise, surprise, fund manager ate the profits… Pretty sure the results would be the same here..."  ~ Jean-Luc

Here's a Cautionary Tale of Pension Privatization From Chile

By KEVIN DRUM, Mother Jones

Among free-market fans, Chile's privatized pension plan has long been held up as a model for us to follow. The problem, as the Financial Times notes today, is ...



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Digital Currencies

Gold, Silver and Blockchain - Fintech Solutions To Negative Rates, Bail-ins, Currency Debasement and Cashless

Courtesy of ZeroHedge. View original post here.

By Jan Skoyles

I was so pleased yesterday by the announcement that I have joined the Research team at GoldCore as it meant that I could finally start talking about it and was back in a role that lets me indulge in my passion by researching and geeking out on all things gold, silver and money.

...



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Biotech

Epizyme - A Waiting Game

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer.  One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."

Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.  

Genetic components are the DNA sequences that are 'inherited.'  Some of these genes are stronger than others in their expression (e.g., eye color).  Yet, some genes turn on or off due to external factors (environmental), and it is und...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

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News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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