27
May

T.G.I.F.

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Market Sentiment Watch: Expect a dull trading day as traders skate early to stretch the long weekend. In today's post please find the natural gas review (essentially in line, near lows for time of year),  a wrap and cheat on Eagle Ford player CRZO who has long been a Core piece of the ZLT and who has shown recent signs of noticing that oil has put in some form of a bottom, and some other odds and ends.  We'll have more cheat sheets out next week in advance of an updated Shopping List with a new name on it. Have a happy safe Memorial Day and thank a veteran if you can and remember the fallen (Pop, we miss you). Next week look for increased volatility as we get a raft of more important economic data and the OPEC heads get together for tea and crumpets but little else. 

Ecodata Watch:

  • We get the 1Q16 GDP revision at 8:30 am EST (F = 0.9%, last read was 0.5%),
  • We get Consumer Sentiment at 10 am EST (F = 95.0, last read 95.8).

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Natural Gas Inventory Review 
  4. Stuff We Care About Today - CRZO
  5. Odds & Ends

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26
May

Thursday Morning – Permian Players Update

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Market Sentiment Watch: Energyland likely in need of a near term pause, may get that with OPEC meet and greet next week. In today's post please find the natural gas inventory preview (set for another sub average injection and we'll get new weekly supply and demand data from a new source this afternoon), the oil inventory review (imports driven low quality beat on the headline - see review section below), the Permian Players update, WPX, and some other odds and ends. 

Ecodata Watch:

  • We get Jobless Claims at 8:30 am EST (F = 275,000, last read was 278,000),
  • We get Durable Goods at 8:30 am EST (F = 1.0%, last read 1.3%),
  • We get Core capital goods orders at 8:30 a EST (no forecast, last read was -0.8%), 
  • We get Pending Home Sales at 10 am EST (F = 0.9%, last read was 1.4%),
  • Tomorrow we get the 1Q16 GDP revision and consumer sentiment.

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Oil Inventory Review 
  4. Stuff We Care About Today - Permian Players Update, WPX
  5. Odds & Ends

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25
May

Wednesday Morning

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Market Sentiment Watch: Light day on the economic front.  In today's post please find the oil inventory preview (imports a bigger question mark for the next few weeks to the downside, expecting an all time record for gasoline demand near term, and continued 30,000 bopd-ish per week drop in Lower 48 oil production), the early read on natural gas inventories for tomorrow's report (another much smaller than normal injection is in the offing and heat has not yet hit), updated cheat sheets for CXO and FANG as we prepare for the Permian Players update and one other group piece this week and next, and some other odds and ends. 

Ecodata Watch:

  • We get Advance trade in goods at 8:30 am EST (F = -59.6 B, last read was -$56.9 B)

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h - with oil and natural gas inventory previews
  3. Stuff We Care About Today - CXO, FANG
  4. Odds & Ends

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24
May

Tuesday Morning – CPE, PE, BCEI

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Market Sentiment Watch: Expecting another quiet late May day as we approach the 3 day holiday weekend which promises to kick off one of the strongest driving seasons from a demand standpoint in years. In today's post please find post quarter wrap and cheat comments on CPE, comments on PE (mineral acres acquisition and offerings), BCEI (bigger than expected borrowing base reduction), and some other odds and ends. 

Ecodata Watch:

  • We get new home sales at 10 am EST (F = 525,000, last read was 511,000),
  • We get household debt at 11 am for 1Q (no estimate).

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today –  CPE wrap and cheat, PE, BCEI
  4. Odds & Ends

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23
May

Monday Morning

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Market Sentiment Watch: Lighter week on the economic data front.  In energyland, we remain in the post 1Q16 reporting season lull (last week was much busier on the news front than expected) and we will continue to issue end of quarter wrap and cheats and Players updates and plan to do some minor portfolio modifications near term. We expect nothing concrete from next week's OPEC meeting and suggest that those who think something should have and subsequently speak of no cut disappointment are simply short.  In today's post please find The Week That Was and a few other odds and ends. 

Ecodata Watch:

  • We get Markit Flash PMI at 9:45 am EST (no forecast, last read was 50.8)

The Week Ahead:

  • Tuesday 5/24: New home sales, household debt, 
  • Wednesday 5/25/: Advance trade in goods, 
  • Thursday 5/26: Jobless claims, durable goods, pending home sales, 
  • Friday 5/27: GDP revision, consumer sentiment. 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. The Week That Was
  4. Stuff We Care About Today 
  5. Odds & Ends

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