Utility and nuclear power generator Entergy Corporation (ETR), first discussed here on May 12, 2009, at a price of $74.31, is displaying a stock pattern that undoubtedly is frustrating to some investors.

The stock slid in bear hug-fashion from $80 to about $68, then rose to $75 before retreating back to about $70. The minor recovery could be interpreted as short covering in a long-term bearish pattern, or, if ETR holds support near the aforementioned $68, which is a short-term double-bottom, a bullish pattern. The view from here argues it's the latter, hence the trade remains in play.

The shares of utility and nuclear power generator Entergy Corp (ETR), which I first wrote about on May 12, 2009 at a price of $74.31, have pulled-back this fall in bear-hug fashion to about $70 from $80. Even so, investors should look on that decline as an opportunity to scoop-up shares. Here's why:

Entergy's canceled spin-off of its wholesale nuclear assets likely accounts for some of the recent stock price dip.

From an earnings standpoint, earnings should increase about 10% in 2010, followed by a 4-6% increase in 2011. After a hotter-than-normal 2010 summer in most of ETR's electric power supply markets, some earnings softness in 2011 is expected, assuming a more-normal 2011 summer. However, this should be partially offset by business electric demand increases, as the U.S. economy continues to improve.

Utility and nuclear power generator Entergy Corp (ETR), which I first wrote about on May 12, 2009 at a price of $74.31, is still worth a look, if you missed the earlier entry point. Here's why:

Although, Entergy canceled the spin-off of its non-nuclear assets, earnings should increase 2-3% in 2010, excluding one-time charges.

Also, because the United States did not build nearly enough nuclear power plants in the last two decades of the 20th century to accommodate its power needs, it will spend the next two decades playing catch-up.

The stock of utility and nuclear power generator Entergy Corp (ETR), which I first wrote about on May 12, 2009, at a price of $74.31, has meandered over the past six months, but I still like the shares at this juncture. Here's why:

Although, Entergy's planned spin-off of its nonnuclear assets into a new company called Enexus Energy has been delayed, due to delays in regulatory approvals by New York State, earnings should increase 3% to 5% in 2010, excluding one-time charges.

Entergy Corp (ETR), which I first wrote about on May 12, 2009 at a price of $74.31, is a company I stll like. Here's why:

I still see an impressive rate of return for Entergy in the years ahead. Unlike France, the United States did not build nearly enough nuclear power plants in the last two decades of the 20th century to accommodate its power needs, and it will spend the next two decades playing catch-up.

Well this is probably not going to be promoted under GE's Ecomagination series: GE is expecting two new contracts to build nuclear power plants.

The company already has a series of nuclear power plants under management for Entergy Corp, so this will put GE in a position of being a nuclear plant leader, and part of an initiative by the current administration to invest more in nuclear power. GE will be working on building five new nuclear power plants.

The last nuclear power plant in the US had been finished in 1971, so GE is in position to become the forefront of this total sea change, prompted by fears of foreign oil dominance, high oil prices, and higher need for energy. Another example of GE looking forward.

And with Greenpeace founder Patrick Moore making an impassioned case that nuclear is the true green technology, maybe GE will be able to tout nuclear energy as part of their Ecomagination line of technologies. Or not...