Holdings Watch: $10KP – $33,500 / 61% Cash Holdings Watch Comments: Another good week for the energy groups. I’ve been adding calls into market and sector weakness for the last two weeks in the wake of 1Q earnings. I’m now thinking of taking a few chips off the table into near term rallies. Remember that [...]

 Arrested Development Watch: Just close out my rant yesterday on crude oil and the proposed higher royalties … One Way, or Another, They’re Gonna Gitya Watch: The Administration has imposed a 1 year moratorium on building roads on 58 million acres of U.S. national forest land. The edict takes effect immediately and supercedes any State [...]

OPEC Watch: Production Quotas Unchanged. The Cartel left production quotas unchanged, as expected, saying compliance is running 79%. Saudi Arabia said some of their customers are asking for more oil and they are refusing to increase production.   The U.S. War On Oil Companies Watch: Draft legislation on Federal leases in the House now: Minimum [...]

We spent last week slowly adding to positions, but the cash balance in the $10KP remains north of 60%. See Monday’s post for wrap comments. Have a good Memorial Day.  

  Hugoton Royalty Trust Thoughts: I went back and looked at the production, operating costs, capital spending, and distribution pattern from January 2008 to the most recent distribution in April 2009. Basically this one will trade with natural gas as 95% of their production comes from long-lived reserves in Wyoming, Oklahoma and Kansas. Forget the [...]