Been driven by the force of deregulation and a shortage of product. He feels there will be slower economic growth in the US this year, which is very good for utilities.
In the late 90's, early 2000 there was a huge overcapacity built on the electrical generating side which is now starting to wind its way through the system so we are now getting a creep up of demand. Book value is almost double the share price.
Our PAST TOP PICK with GEN is progressing well. To remain disciplined, we recommend trailing up the stop (from $20) to $23 at this time.