28
Aug

Wrap – Week Ended 08/26/11

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Comments will be included in the Monday Post.

9 Responses to “Wrap – Week Ended 08/26/11”

  1. 1
    crysball Says:

    The Cook Inlet……breathing life into an old Oil & Gas Play…..smart move by the Gov’t of Alaska:

    http://online.wsj.com/article/SB10001424053111904009304576530440661566506.html?mod=WSJ_hps_sections_news

  2. 2
    zman Says:

    Bullard optimistic, others not

    http://www.marketwatch.com/story/feds-bullard-sees-no-need-for-easing-2011-08-28?link=MW_home_latest_news

  3. 3
    Zorgnak Says:

    Wayne Whaley’s quant look on the latest bottom test in the market.
    http://library.constantcontact.com/download/get/file/1104076872181-22/The+Week+Before+Labor+Day+&+Some+Retest+Comments.pdf

  4. 4
    Zorgnak Says:

    Looking ahead. Major Areas of Interest
    I thought I’d share a potential confluence of technical factors that may occur early next week if the market continues to move higher. I’ll use SPY rather than the S&P Futures as I’m assuming that all have access to real time prices on SPY and XLE. The exact levels may change as I re-compute them daily, but not by much.
    If SPY closes above 120.32 early next week the range expansion will be such that when SPY is below the 200 day moving average the probabilities of a pullback that are significantly higher than any additional short term gains. In confluence with the range exhaustion probabilities, there is also a significant swing high and composite low volume area around 121.50. For me, that suggests at least not chasing any strength at that point or perhaps a time for further lightening up or hedging.
    http://www.charthub.com/images/2011/08/28/Stock_Composite
    On the XLE the same set of conditions comes into play if the index ETF closes above 68.89. There is confluence with prior swing high and major low volume area around 69.50.
    http://www.charthub.com/images/2011/08/28/Stock_Composite_2
    The risk of caution is that the market breaks out over the prior swing highs/ low volume resistance levels and doesn’t look back. Statistically most breakouts fail on the first attempt though and those that do succeed often retest.
    If the general market does pull back into a trading range or test lower I’m thinking there will be opportunities again at lower prices in the usual suspects.

  5. 5
    zman Says:

    Thanks Zorg

    SSN on the tape with a Niobrara update, added to acreage and at coring point for the first well, Defender, details in Monday post.

  6. 6
    andy Says:

    zorg thks for changing to SPY makes it easiser to follow u.

  7. 7
    choices Says:

    pro-Keystone article=20k jobs.

    http://www.washingtonpost.com/opinions/say-yes-to-canadian-oil-sands/2011/08/28/gIQAl0HmlJ_story.html?hpid=z2

    Thanks, zorg for SPY analysis

  8. 8
    milepost_43 Says:

    ditto 6…thanks.

  9. 9
    Zorgnak Says:

    I use Spy X 9.96 for a rough approximation of the S&P Futs….I’ll post SPY as time allows, perahps at the Major turning points of interest

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