GDP down 3.8% versus an expected drop of 5.5%? Sounds like good news. Exclude the impact of inventories which are flying higher and that goes to 5.1%, the weakest growth in 28 years. Higher product inventories will lead to lower output so lookout Q1 GDP estimates. Otherwise, have a nice day. 

 
In Today’s Post:

Holdings [...]

 
PQ Provides Guidance, Updates Operations - In a nutshell…outlook not as shabby as I’d expect.

4Q Production: 4Q inches up from a ranged of 97  to 102 MMcfepd to 102 to 103. They note December production was 40% higher than January 2008 production.
2009 Production Guidance: 90 to 100 Mcfepd. The mid point of this range would [...]

 
CHK Reports Preliminary Production & Reserves; Updates Haynesville Activity & Hedges; Announces $500 Million Senior Note Deal.

4Q08 Production:

2.315 Bcfepd (92% natural gas). Up 2% sequentially and 14% year over year once you get everything on an apples to apples basis (adjusted for VPPs and asset [...]

 
Well, the week that was was only half bad. Two green days, two red and one of those as expected being an innauguaral day. Five quick points of interest follow the table.

1) Oil & Oil Service Outperformed The Broad Market. Not by a landslide and it could be just market noise in a short week [...]

 
In Today’s Post:

Holdings Watch
Commodity Watch
EIA Oil Inventory Report Preview (11 EST release time today)
Stuff We Care About Today - Viewer mailbag, HK, NE, SLB
Odds & Ends

Holdings Watch: No changes yesterday. I was looking for a rally, mission accomplished but we need to retake the 850 level on the S&P500 (as several of you have pointed [...]