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Electric utilities creating sparks

|Includes:ALE, CNL, ES, PNM Resources, Inc. (PNM), POR, UNS
Electric utilities doing well today on the heels of PNM today raising FY11 guidance citing a shift in more favorable rate legislation.  The stock is up 7% on 2x volume. 

Other electric utes making new highs:  NU, ALE, UNS, POR, CNL.  Most compelling are ALE which broke $38 major resistance dating back to April of last year (see below chart), and UNS which broke $37 resistance. All of these companies sport dividend yields in the 3-5% range, and except for CNL and NU, the rest are well off their previous highs.

Stocks: PNM, ES, ALE, UNS, POR, CNL