I’ll be adding bits and pieces as the long weekend progresses.

 
Holdings Watch: Closed positions for the week. We took on some new refiner positions and a service name during the week as well. The Holdings Wiki tab has been updated.

Sold the FRO $50 Puts, down 63% and will likely re-position soon
Sold the HK $35 [...]

Wow, a week in the energy world that wasn’t cause for resource fund managers to look through the help wanted adds while working on their tans in the Hamptons. It seems energy companies are not about to go out of business and the sentiment meter on the E&P and Oil Service sectors has ticked up [...]

 
Well that was less than fun and one of the worst months I’ve had since publicly disclosing my trades (see updated holdings on the ZEB Perf tab). 

Sentiment on the group, despite the occasional glimmer of hope, remains decidedly negative.

Blame the "dollar - oil" reversal trade,

Or blame fears of oil demand destruction (more [...]

 
(GMXR): No position yet but its on my list of dance partners that will shine when the commodities stabilize. Highly concentrated, gassy play with high leverage to the Haynesville and little if any value in the stock for it. They’d make a nice stocking stuffer for any mid or large cap E&P that finds itself [...]

Energy Group Sentiment Watch:  Negative. Yesterday’s little bounce was weak, especially in oil service. Stocks are trying to find a bottom but could easily go lower with fresh 3 month lows on crude. From my perspective, I saw fine, go ahead, find a bottom. Good news from companies continues to have "flash in the pan" [...]