Natural highs, Buying low

GOOD DAY FOR: Flying high on weed, after Continental Airlines tested a new biofuel made of algae and a weed called jatropha, using it to help power one of two engines in a Boeing 737. The two-hour test flight was the first by a U.S. airline, although Air New Zealand tested a jatropha-based fuel last week. Biofuels may not be a significant fuel for jets for a decade, but airlines say they are committed to free themselves from being dependent on oil and oil prices. (Los Angeles Times)

BAD DAY FOR: Cashing in your 401(k), after analysts at HSBC, Europe’s largest bank, said that U.S. stocks are the most promising investment pick for 2009, although a big sell-off is possible through March. After two years of strong corporate profits, “U.S. companies are sitting on piles of cash,” said HSBC’s Arjuna Mahendran. He predicts we’ll “see a bottom of the current downturn” by mid-2009. (Reuters)

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