23
May
Market Sentiment Watch: The Fed presented a mixed message yesterday with Ben saying not to think too hastily on tightening but the Fed minutes pointing to tapering desired by a "number" of Fed members, as early as the June meeting. Overnight China PMI contracted sneding euqity and oil futures lower (the Nikkei was off 7.3% overnight). European flash PMI came in slightly better than expected but futures are not budging on that. OPEC meets next week and they have at least a couple of reasons to rein in their production quotas now. In energy land we finally saw a nice tic up in both gasoline and distillate demand in the weekly EIA numbers … while one week does not a trend make this demand is needed to forestall a dip in utilzation and corrosion of current oil prices which as we have been writing for a couple of months now are a bit lofty for our liking. In today's post please find the oil inventory review, the natrual gas preview, comments on WPX and a few other odds and ends.
Ecodata Watch:
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Jobless claims came in at 340,000 vs 343,000 expected and 363,000 last week,
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Markit Flash PMI (China) came in at 49.6 vs 52.1 last month,
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Flash PMI for the Eurozone came in at 47.7 vs 47.2 forecast,
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We get New Home Sales at 10 am EST (F = 430,000, last reading was 417,000),
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We get the FHFA Home Price Index at 10 am EST (no forecast, last read was 7.1% Yoy)
In Today’s Post:
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Holdings Watch
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Commodity Watch
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Oil Inventory Review
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Natural Gas Inventory Preview
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Stuff We Care About Today – WPX
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Odds & Ends
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Posted in Uncategorized, wpx by: zman
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22
May
Market Sentiment Watch: Ben Bernanke speaks to congress today at 10 am EST. Presentations by a number of Fed governors in recent days have yielded a somewhat aligned view that the timing of tightening is far from certain, maybe not before year end, and could be preceded by further easing. There does not seem to consensus over whether deflation is a real risk at this time. In today's post please find more comments on the gassy players list, NFX, and some other odds and ends.
Ecodata Watch:
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We get existing home sales at 10 am EST (F = 5 mm, last read was 4.92 mm)
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We get the FOMC minutes at 2 pm EST.
In Today’s Post:
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Holdings Watch
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Commodity Watch
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Oil Inventory Preview
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Stuff We Care About Today – Gassy Hedge, NFX (Strip vs Flat)
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Odds & Ends
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Posted in Gassy, nfx, Uncategorized by: zman
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21
May
Market Sentiment Watch: POST IN PROGRESS … POSTED OVERNIGHT due to bad line of storms passing through. In today's post please an updated and extended version of the Gassy Players update with notes. This version now gives a little more historical signicance to the cheat sheet for this group we normally display (that's updated in this post as well).
Oklahoma Watch: Ways to help.
Ecodata Watch:
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No economic data scheduled.
In Today’s Post:
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Holdings Watch
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Commodity Watch
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Stuff We Care About Today – Gassy Players update, TBA
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Odds & Ends
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Posted in Gassy, Uncategorized by: zman
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20
May
Market Sentiment Watch: This week we plan on doing more Spring Cleaning trades and rearranging of positions within the ZLT. See the Holdings Watch section below for an updated pie exposure chart. In today's post please find comments on last week's happenings in energy land in The Week That Was, the ZLT exposure pie graphs, and some other odds and ends.
Ecodata Watch:
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We get the Chicago Fed National Activity index at 8:30 am EST, last read was -0.23.
The Week Ahead:
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Tuesday 5/21: No ecodata release scheduled
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Wednesday 5/22: Existing home sales, Bernanke testimony, FOMC minutes,
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Thursday 5/23: jobless claims, Markit flash PMI, new home sales, FHFA home price index,
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Friday 5/24: Durable goods,
In Today’s Post:
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Holdings Watch
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Commodity Watch
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The Week That Was
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Stuff We Care About Today – 1Q13 Quick Wrap – the companies, —–CHK,–
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Odds & Ends
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Posted in Uncategorized by: zman
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18
May
A new pie exposure graph will be included in the ZEB Positions tab later this evening
The ZLT C and broader ZLT and ZMT positions pages will be updated this evening.
This piece on MCEP was published on Seeking Alpha late last week, updating numbers for their new acquisition.
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Posted in Uncategorized by: zman
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