Market Sentiment Watch: Ben Bernanke speaks to congress today at 10 am EST. Presentations by a number of Fed governors in recent days have yielded a somewhat aligned view that the timing of tightening is far from certain, maybe not before year end, and could be preceded by further easing. There does not seem to consensus over whether deflation is a real risk at this time.   In today's post please find more comments on the gassy players list, NFX, and some other odds and ends. 

Ecodata Watch:

• We get existing home sales at 10 am EST (F = 5 mm, last read was 4.92 mm)
• We get the FOMC minutes at 2 pm EST. 

In Today’s Post:

1. Holdings Watch
2. Commodity Watch
3. Oil Inventory Preview
4. Stuff We Care About Today – Gassy Hedge, NFX (Strip vs Flat)
5. Odds & Ends

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Market Sentiment Watch:  POST IN PROGRESS … POSTED OVERNIGHT due to bad line of storms passing through.  In today's post please an updated and extended version of the Gassy Players update with notes. This version now gives a little more historical signicance to the cheat sheet for this group we normally display (that's updated in this post as well). 

Oklahoma Watch:  Ways to help. 

Ecodata Watch:

• No economic data scheduled. 

In Today’s Post:

1. Holdings Watch
2. Commodity Watch
3. Stuff We Care About Today –  Gassy Players update, TBA
4. Odds & Ends

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Market Sentiment Watch: This week we plan on doing more Spring Cleaning trades and rearranging of positions within the ZLT. See the Holdings Watch section below for an updated pie exposure chart.  In today's post please find comments on last week's happenings in energy land in The Week That Was, the ZLT exposure pie graphs, and some other odds and ends. 

Ecodata Watch:

• We get the Chicago Fed National Activity index at 8:30 am EST, last read was -0.23.

The Week Ahead:

• Tuesday 5/21: No ecodata release scheduled
• Wednesday 5/22: Existing home sales, Bernanke testimony, FOMC minutes, 
• Thursday 5/23: jobless claims, Markit flash PMI, new home sales, FHFA home price index, 
• Friday 5/24: Durable goods, 

In Today’s Post:

1. Holdings Watch
2. Commodity Watch
3. The Week That Was
4. Stuff We Care About Today – 1Q13 Quick Wrap – the companies, —–CHK,–
5. Odds & Ends

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A new pie exposure graph will be included in the ZEB Positions tab later this evening

The ZLT C and broader ZLT and ZMT positions pages will be updated this evening. 

This piece on MCEP was published on Seeking Alpha late last week, updating numbers for their new acquisition. 

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Market Sentiment Watch: Expecting a quiet expiration day a day after markets retreated on the suggestion by a non voting member of the Fed that bond buying could ease over the summer and end by year end. Sounds like a trial balloon and besides, the market could use a breather. In energyland things are pretty quiet but kudos to the EIA for finally publishing a NGL composite index. In today's post please find comments on the natural gas inventory report, a mini model on NFX's domestic only outlook (cheaper than its peers, no longer for a reason), 1Q13 Wrap Part II (takeaways from the quarter on the Eagle Ford and Pearsall), and some other odds and ends. 

Ecodata Watch: 

• We get Consumer Sentiment at 9:55 am EST (F = 77.5, last read was 76.4),
• We get Leading Indicators at 10 am (F = +0.3%, last read was -0.1%)

In Today’s Post:

1. Holdings Watch
2. Commodity Watch
3. Natural Gas Inventory Review
4. Stuff We Care About Today – NFX, 1Q13 Wrap II
5. Odds & Ends

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