28
Sep

Wednesday Morning

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Market Sentiment Watch:  In energyland, stocks fell yesterday after OPEC failed to announce anything meaningful in Algiers (as was widely expected). News flow remains fairly low other than occasional mega deal which seems to happen on an almost biweekly basis of late.  Saudi Arabia did suggest their exists a path to a potential agreement at the end of November which could exclude some member countries (including Iran) from capped production levels. We remain in the sideways trade and note that leadership names that brought us to recent cycle high levels have notably lost momentum and in some cases have broken technical levels a bit too easily over the last week. We're not actively shopping at the moment as the declines are not really there yet but we're watching more closely for opportunities with a focus on Shopping List names and a couple of non List names that are newer to us. In today's post please find the oil inventory preview (API last night again pointed to a decline for crude and a big decline for gasoline stocks), the natural gas inventory preview (another heat based smaller than normal injection is expected tomorrow), comments and an updated pro forma cheat for RICE in the wake of their big Marcellus buy announced Monday night, and some other odds and ends. 

Ecodata Watch:

  • We get Durable Goods at 8:30 am EST (F = -1.5%, last read was 4.4%), 
  • We get core capital equipment orders at 8:30 am (no forecast, last read was 1.5%).

In Today’s Post:

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

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27
Sep

Tuesday Morning – RICE

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Market Sentiment Watch: In energy land, oil is trading slightly lower as hopes that OPEC members and large Non OPEC players meeting in Algeria might come to some sort of price stabilizing agreement begin to fade (further). The group remains in the sideways trade.  In today's post please find the early read on oil inventories, comments on dead money names, comments on the big RICE acquisition (in a nutshell it's bold and we like the move to add to their core that they already know so well, and some other odds and ends. 

Ecodata Watch:

  • We get Case-Shiller home price (no forecast, last read was 5.1%), 
  • We get Markit Services PMI (flash) at 9:45 am (no forecast, last read was 51.0), 
  • We get Consumer Confidence at 10 am (F = 98.6, last read was 101.1).  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today – Dead Money Watch, RICE
  4. Odds & Ends

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26
Sep

Monday Morning

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Market Sentiment Watch: We are in the sideways trade for the energy groups. In energyland almost all eyes are focused on the outcome of the sidelines meeting between OPEC and Non OPEC key players in Algiers today and tomorrow. News flow is at a stand still but should pick up again in the next two weeks.  In today's post please find The Week That Was and some other odds and ends. 

Ecodata Watch:

  • We get New Home Sales at 10 am EST (F = 600,000  last read was 654,000).
  • OPEC and Non OPEC meeting in Algiers. 

The Week Ahead: 

  • Tuesday - OPEC and Non OPEC meeting, Case-Shiller home prices, consumer confidence, 
  • Wednesday - Durable goods, 
  • Thursday - Jobless claims, 2Q GDP revision, advance trade in goods, pending home sales, 
  • Friday - Personal income, consumer spending, core inflation, Chicago PMI, consumer sentiment, Natural Gas Monthly, Monthly oil supply report.  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. The Week That Was
  4. Odds & Ends

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25
Sep

Wrap – Week Ended 09/23/16

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Last week the ZLT was down 0.7% (all of the drop occurring on Friday) and is up 30.7% year to date. The XOP was flat on the week and is up 19.6% on the year. 

Questions and comments under The Wrap will be addressed in the Monday post. 

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wrap 092316


23
Sep

Friday Morning – Permian Players

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Market Sentiment Watch: Energyland remains quiet.  In today's post please find the natural gas storage review (another smaller than expected injection as the erosion of the storage overhang continues on the back of high Industrial and Electrical demand), an updated and expanded Permian Players Table, and some other odds and ends. 

Ecodata Watch:

  • We get the Markit PMI (flash) for September at 9:45 am EST (no forecast, last read was 52.0). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Natural Gas Inventory Review 
  4. Stuff We Care About Today - Updated and augmented Permian Players Table
  5. Odds & Ends

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