21
Oct

Tuesday Morning

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Market Sentiment Watch: Nervous market conditions continue. In energyland nerves remain frayed. Our sense is that we are in the early days of bottoming action (sideways trading) in both E&P and Service. The combined comments out of BHI, SLB, and HAL regarding the near and long term activity expectations can be summed up as "we're not seeing anything yet".  See the Holdings Watch for more trades yesterday as we continue to come further off the bench. In today's post please find a brief wrap of the HAL highlights and some quick thoughts on not-closely-watched-by-us-and-somewhat-unique-story PHX as well as some other odds and ends. Note that the ongoing mark to market of analyst prices targets in E&P's continues which is healthy (if not saying much in many cases for the concept of price targets). 

Ecodata Watch:

  • China GDP came in at 7.3% vs consensus of 7.2% but below the official government target of 7.5% and 2Q's 7.5% reading. 
  • We get Existing Home Sales at 10 am EST (F = 5.00 mm, last read was 5.05 mm) 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today – HAL Wrap, PHX
  4. Odds & Ends

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20
Oct

Monday Morning – HAL, REXX

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Market Sentiment Watch: Slow week on the economic data front. In energy land 99% of eyes remain on OPEC and oil prices. We're looking for a bit of stabilization there near term.  In today's post please find The Week That Was (lots in there as always, worth your time to read), comments on the HAL quarter (nice beat), the 3Q14 Energy Earnings Week 2 calendar (we get the first E&Ps of the season we care about on Friday), comments on REXX and some other odds and ends. 

Ecodata Watch:

  • No economic data release scheduled. 

The Week Ahead:

  • Tuesday 10/21: Existing home sales,
  • Wednesday 10/22: CPI, 
  • Thursday 10/23: Jobless claims, Chicago national activity index, FHFA home prices, Markit Flash PMI, leading indicators, 
  • Friday 10/24: New home sales

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. The Week That Was
  4. Stuff We Care About Today – 3Q14 Earnings Calendar Week 2, HAL 3Q14, REXX
  5. Odds & Ends

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19
Oct

Wrap – Week Ended 10/17/14

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Questions / comments under the wrap table will be addressed in the Monday Post. 

Holdings Watch:

If you have questions about the site please email them to zman@zmansenergybrain.com

wrap 101714


17
Oct

T.G.I.F.

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Market Sentiment Watch: Two days do not a new trend make.  However, with that said we say, "Thank You Sir, May I Have Another !?!?!"  In today's post please find the natural gas inventory slide show (essentially in line as we continue to approach an expected peak of 3.6 Tcf), the oil inventory review (bigger than expected crude build but fairly predictable given the season), and comments on the SLB quarter (who made the point of saying they don't see much change in their business due to the recent drop in oil prices. 

Ecodata Watch: 

  • We get Housing Starts at 8:30 am EST (F = 1.015 mm, last read was 0.956 mm), 
  • Janet Yellen speaks at 8:30 am EST, 
  • We get Consumer Sentiment at 9:55 am EST (F = 83.5 mm, last read was 84.6 mm)

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Natural Gas Inventory Review
  4. Oil Inventory Review 
  5. Stuff We Care About Today – SLB
  6. Odds & Ends

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16
Oct

Thursday Morning – SWN Takes A Big Bite

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Market Sentiment Watch: Nervous market conditions persist.  In today's post please find the oil and natural gas weekly inventory previews (we get both today due to the Columbus Day holiday), a PVA leverage stress test piece, and comments on the once in a company lifetime sized Utica/Marcellus buy by SWN. 

Ecodata Watch:

  • We get jobless claims at 8:30 am EST (F = 289,000, last week was 287,000),
  • We get Industrial Production at 9:15 am EST (F = 0.4%, last read was -0.1%), 
  • We get Capacity Utilization at 9:15 am EST (F = 79%, last read was 78.8%), 
  • We get the Home Builders' index at 10 am EST (F = 59, flat with last read), 
  • We get Philly Fed at 10 am EST (F = 19.5, last read was 22.5)

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Oil Inventory Preview
  4. Stuff We Care About Today – Stress Test ~ PVA, SWN
  5. Odds & Ends

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