18
Apr

Thursday Morning – SLB

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Market Sentiment Watch: DC politics may take center stage today. In today's post please find the oil inventory review (unexpected crude draw on a big drop in imports, a 0.1 mm bopd retreat by EIA for their view of Lower 48 oil production, and modest product draws for both gasoline and distillates ... all in all we saw the report as a neutral one as weeklies go), the natural gas preview (expecting a much bigger build today but consensus remains well short of our implied build), comments on the SLB quarter, next week's much busier earnings calendar, and some other odds and ends. Have a Happy Easter. 

Ecodata Watch:

  • We get jobless claims at 8:30 am EST (F = 204,000, last read was 196,000),
  • We get retail sales at 8:30 am EST (F = 1.1% headline, 0.7% ex autos vs -0.2% and -0.4% respectively last month),
  • We get the Philly Fed index at 8:30 am EST (F = 11.0, last read was 13.7),
  • We get leading indicators at 10 am EST (no forecast, last read was 0.2%).

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Oil Inventory Review 
  4. Stuff We Care About Today - SLB,  Next Week's 1Q19 Earnings Calendar
  5. Odds & Ends

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17
Apr

Wednesday Morning – WIOWIO Part 3

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Market Sentiment Watch: China data in focus. In today's post please find the oil inventory preview (more benign consensus expectation for EIA but API was more bullish than usual, especially on the gasoline front which if reflected by EIA would sport the 9th consecutive week of significant draw down), the natural gas inventory preview, the WIOWIO Part III update (positions 7,8,9 in the ZLT),  and some other odds and ends. 

Ecodata Watch:

  • We get the trade deficit at 8:30 am EST (F = -$53.4 B, last read was -$51.1 B),
  • We get wholesale inventories at 10 am EST (no forecast, last read was 1.2%),
  • We get the Beige Book at 2 pm EST.  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h - with oil and natural gas inventory previews
  3. Stuff We Care About Today - WIOWIO Part 3, HAL 
  4. Odds & Ends

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16
Apr

Tuesday Morning – WIOWIO Part 2

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Market Sentiment Watch: In today's post please find the early read on oil inventories (looking for higher refiner throughput this week, a bounce in exports and lower gasoline demand - Street again reflecting product draws and a smaller crude build), the very early read on natural gas inventories (much bigger than the prior week as expected but again smaller than our implied number) part 2 of the WIOWIO (ZLT names 4, 5 & 6),  and some other odds and ends. 

 

Ecodata Watch:

  • We get Industrial Production at 9:15 am EST (F = 0.1%, last read was 0.0%), 
  • We get Capacity Utilization at 9:15 am EST (F = 79.1%, last read was 79.1%),
  • We get the Home Builders' Index at (no forecast, last read was 62). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today – WIOWIO Part 2
  4. Odds & Ends

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15
Apr

Monday Morning

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Market Sentiment Watch: 1Q19 earnings season begins at the end of this holiday shortened week with service name SLB.  All eyes on Capex thoughts under a better-than-4Q18-reporting-season commodity price regime. In today's post please find The Week That Was, and some other odds and ends. 

Ecodata Watch:

  • We get Empire State at 8:30 am EST (no forecast, last read was 3.7).

The Week Ahead: 

  • Tuesday - Industrial production, capacity utilization, home builders' index, 
  • Wednesday - Trade deficit, wholesale inventories, Beige Book, 
  • Thursday - Jobless claims, retail sales, Philly Fed, business inventories, leading indicators, 
  • Friday - Housing starts, building permits. 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. The Week That Was
  4. Stuff We Care About Today 
  5. Odds & Ends

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Continue Reading »


13
Apr

Wrap – Week Ended 4/12/19

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ZLT up 3.1% on week, up 23.2% YTD as the 1Q19 earnings season approaches.  Not a subscriber? We can fix that. It's cheaper than a cup of coffee a day and better for you. Contact zman@zmansenergybrain.com

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The trading blotter is updated.

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Positions are updated here.

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