EIX is not a buy for a long-term position yet; wait for price to form a base as wildfire liability issues persist.

Um the two big ones were Edison International and then Pacific Gas and Electric Company. major major implications for um uh Edison and uh PG&E.

EIX, that's one of those. That's the Edison that is down 20%. Oh boy, look at this. Straight down from Friday's close.

uh EKS mentioning that EIX, which is Edison that we've covered here this morning, might be trying to bottom here. Now, the last time this traded down, Lion, you were a buyer of EIX, weren't you?

I know 13 was, but I I I think both of you folks were. I bought it, too, but I was I used options, and I just didn't give them enough time. I won't make that mistake if I do it again here.

Well Well, when I was buying this, uh I didn't buy it when that it first started making that move down off the wildfires. uh yeah in in California waited it out. Yeah. I I wanted some, you know, some real bottoming to happen.

And we even talked about this line and I we were looking at this uh and were thinking it might be time to get this now because it was starting to you know it was basing it was starting to show signs of recovery and and sure enough this thing ended up coming back up.

It went a little bit over 80 at one point. Uh I was out of this in the uh in the middle of uh 70 like 75 76. Um, but this is, you know, that was about where I was anticipating the the highs would would be.

Now it's uh, you know, it started to come back in uh, in a earlier in August. And I think that, uh, that legislation not going in their way for the wildfire liability caps uh, really did put some big pressure on them.

Now, I wouldn't be a buyer if for a long-term position just yet. I'd want to see some some bottoming some, you know, establishment of a base and that may take a little bit of time uh because there's there's still more of this story to work through here.

And um I could I'll bring some more details that when I have them, but um you know, I I think that uh this this fight for uh reducing liability caps for for utility companies is not over.

It just might start to take on a different form. So, I'll keep you informed of that.

Uh, Lion says, "I'm going to start dollar cost averaging on EIX." Okay, so it looks like you're starting to uh starting to buy there and you will hold that and add if it moves lower. That's important.

Wishy war. We'll see with with with Edison. I mean, it is coming down into like a a support range. So, it it you know, making uh you know, if this is a long-term position for for line, dollar cost averaging is isn't a bad idea at all.

Um it's it's you know I I want to actually see some actual sideways price action and and some uh strength in in uh you know preventing any further downside from happening. Uh because the initial move when we had this uh going in 2020 uh I'm sorry last year uh it it took a little bit of time like almost uh maybe six to to eight months before this really uh started looking good again to me.

So, I I want to actually see this uh form a base before I start taking a stab at it.