24
Jul

Wrap – Week Ended 7/22/11

Print Friendly, PDF & Email

Comments will be in the Monday post

27 Responses to “Wrap – Week Ended 7/22/11”

  1. 1
    Zorgnak Says:

    Homework notes.. Zman E&P Index extended break from  daily inverse H&S pattern.Extended 39-40 Support.    http://i1223.photobucket.com/albums/dd503/zorgnak/ZMAN723.jpg
                                      ZCoalProducers Index broke daily inverse H&S pattern. Extended 35.50  Support                      http://i1223.photobucket.com/albums/dd503/zorgnak/ZCOAL723.jpg
                                      ZEquip&Svcs Index extended range break on volume. Extended. 48 Support                               http://i1223.photobucket.com/albums/dd503/zorgnak/ZES723.jpg
    SDRL      36.39 Break of two month high and tight consolidation. All time highs at 38.24
    ATPG      16.23  Double top break out of a very tight consolidation pattern.
    ANR        47.25  Break of 4 week consolidation after recent exhausiton low in June.
    KOL         51.87   Break of 6 month consolidation after recent exhaustion low and H&S (weekly) failure in June.Daily Reverse H&S breakout on 7/20
    PTEN                    Consolidating in high tight flag at 3 year highs.
    ROSE                   High tight flag, support at 55

    Recent Double Top Break
    WLT ..strong coal group

    Up on high volume
    CPX
    WFT
    SD
    Down on high volume
    DNR
    BAS

    Other    IB= Inside Bar, NR=Narrowest bar in the last X days, BBS=Volatility Squeeze C&H= Cup and Handle   H&S =Head and Shoulders
    EXXI      IB, NR10, 37.20, 3 Year High Near
    ATPG    IB,NR10,BBS 16.25 Breakpoint
    CNQ     IB,NR10, Triple Top Break, Reverse H&S above 44
    NFX      IB,NR10,Recent C&H Break
    SSN     BBS,Double top break at 13.15

     

  2. 2
    Justin Says:

    Those bozos better get something inked…

  3. 3
    zman Says:

    Rep press conf by 6 pm EST, USD taking it on the chin early. 

  4. 4
    zman Says:

    No agreement

    http://www.businessinsider.com/live-coverage-the-debt-ceiling-negotiations-2011-7

  5. 5
    zman Says:

    Reid now talking $2.5 T in cuts and no tax increases. 

  6. 6
    zman Says:

    Whackjob Watch:

    http://www.greenwichtime.com/news/article/Debate-over-longevity-of-Arkansas-gas-wells-1571283.php

  7. 7
    zman Says:

    re 6 – see page 12

    http://www.swn.com/investors/LIP/latestinvestorpresentation.pdf

    Art Berman is a crack pot

  8. 8
    zman Says:

    S&P Futs off 1%, gold at all time high

  9. 9
    zman Says:

    ZLT positions updated:

    http://zmansenergybrain.com/subscriber-data/holdings-wiki/

  10. 10
    zman Says:

    Gold > $1,620

  11. 11
    zman Says:

    Crude off 60 cents …. holding up better than you'd think due to a weaker dollar

    No catastrophe yet on the equity side, futures:

    DJIA -111

    SP -10

    NAS -25

  12. 12
    john11 Says:

    From the site Z posted in #4 above…

    7:39pm | Today's intrepid White House pool reporter, The Hill's Sam Youngman, on the state of the negotiations: "DC is a big bag of suck that couldn't solve a rubik's cube if it were all one color."

    Read more: http://www.businessinsider.com/live-coverage-the-debt-ceiling-negotiations-2011-7#pm79#ixzz1T4RdsW6X

  13. 13
    elduque Says:

    Justin – have you put together your TAT report?
    Cheers.

  14. 14
    brodway Says:

    Haven't seen much comment on Noble (NE). looks like some kind of bottom was formed. Not really a very positive chart, but energy has started to take off and this one is sitting out.

  15. 15
    Zorgnak Says:

    S&P Futures…..Opened down to significant support area at 1329.
    1319   Minor CLVN Support
    1310   Minor CLVN/Support
    1300   Major CLVN/Support
    http://www.charthub.com/images/2011/07/24/FT71_ES_Intraday_Posted

  16. 16
    Zorgnak Says:

    Crude still holding minor support just under 99. Next support area at 98
    http://www.charthub.com/images/2011/07/24/Crude_Composite

  17. 17
    choices Says:

    sdrl:  attached fairly informative on rigs/day rates-looks healthy to me.
    http://seekingalpha.com/article/281164-seadrill-quarterly-fleet-analysis-expanded-fleet-increased-cash-flows

  18. 18
    Zorgnak Says:

    #17 thanks choices

  19. 19
    choices Says:

    Appears that we may get a big red day tomorrow-I guess the really question is how long it will last-I have a shopping list but DO NOT want to jump the gun
    I-trade has it @25% by 7/31, down from ~40% but has gone up to 75% by 8/31-
    http://www.intrade.com/v4/home/
    credit downgrade 50/50 if anyone places any credence in anything rating agencies say-
     
     

  20. 20
    choices Says:

    Asian mkts not off all that much (yet):
    http://www.bloomberg.com/markets/

  21. 21
    zman Says:

    They'll get something worked out; market doesn't really believe they won't. 

  22. 22
    Justin Says:

    elduque –  I hate to break my promise of posting it in the Wrap.  However, I don't want to shortcut my review just to make me feel alright about holding on.  I punted six questions to TAT's IR (don't want to overdue the MMIII lifeline) after spending several hours on it yesterday and couple today.  I'll pull it together as soon as I get a response.  I'll also call IR to move things along as the contact is in the office tomorrow. 

  23. 23
    crysball Says:

    Pirates  now operating  off  West  Africa……….opening a whole new  front  for Ocean Piracy………..as  they   Hihacked an Italian  Tanker  toting Diesel Fuel
    http://www.bbc.co.uk/news/world-africa-14270010

  24. 24
    zman Says:

    Saw that, off Benin, right next to Nigeria

  25. 25
    choices Says:

    #18-you are welcome, zorg-as you have said many times, any time.

  26. 26
    elduque Says:

    Thanks Justin – I am assuming that it is probably ok, but the one concern I had was whether or not they get the license to sell the nat. gas. Or at least that is what I thought I heard on the conference call. They implied that it was just a technicality that was holding it up. I am long TRGL, never figuring that a whole country could be so stupid. So I am a little more cautious, now. 

  27. 27
    Zorgnak Says:

    Early morning look..I'll post a later one prior to open if anything material changes
    S&P Futures Areas of Interest 8 AM. Futures are finding balance around the 1329 CLVN in the O/N market. 1329 will be key support area today.
    Above 1329 congestion thins out with 1342.75 area as key resistance.Any move much below O/N lows (1322) and the picture becomes much murkier.
                     

    1342.75       CLVN
    1335.50       Minor CLVN
    1329            CLVN,
    1324.75       Minor CLVN,NVPOC 1323.75, O/N low 1322, Wed Close 1321.50, CHVN 1322

    1319            Minor CLVN
    1316.50       CHVN, O/N low 1315
    1307.25       Major CHVN
    1300             Major CLVN

    CLVN =Composite Low Volume Node/ Rejection    CHVN= Composite High Volume Node/Acceptance and Congestion

    http://www.charthub.com/images/2011/07/25/FT71_ES_Composite

Leave a Reply

Zman's Energy Brain ~ oil, gas, stocks, etc… is is proudly powered by Wordpress
Navigation Theme by GPS Gazette

s2Member®