03
Dec

Wrap – Week Ended 12/02/11

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ZLT Performance Through The End Of November

  • ZLT A: +46% (since inception +113%)
  • ZLT B: +25% (since inception +648%)
  • ZLT C: +13% (ytd and inception are the same here)
  • S&P500: -0.8%
  • XLE: +3.5%
.

Wrap Comments:

1) Strong Week. Thank China for their first reserve requirement reduction in three years and thank Europe for another set of rumors. We should get something firm out of Germany and France this week. Or at least that was the plan at the end of this week. In energy land oil trended back above $100 and to repeat myself my sense is that oil is a few months ahead of itself at this point and would be pleased with prices in the $85 to $95 range until we get additional modestly positive economic data. The last few weeks have seen a continuation of the grinding higher sort of ecodata and I expect that to continue into the first quarter. Not a swift recovery but an L-shaped one.   Note that energy remains one of the best places to be in this market ... unless you're thinking of "green" energy and then you'll note in the table at the end of the post that the GEX and TAN green energy ETFs remain one of the worst places to be.

2) Natural gas. First withdrawal of the season comes essentially a month late. We are very full. More importantly, the September data came out showing gas production increased to a new record. See Tuesday's post for further details but here are some quick summary charts.


For further wrap comments tune into the Monday post ...

9 Responses to “Wrap – Week Ended 12/02/11”

  1. 1
    zman Says:

    Iran Watch:

    http://news.yahoo.com/iran-says-oil-over-250-exports-banned-102435950.html

  2. 2
    zman Says:

    Iran Watch 2

    http://news.yahoo.com/iran-military-shoots-down-u-drone-state-tv-142804389.html

  3. 3
    crysball Says:

    More Iran Watch{

    Iran claims to shoot down US Drone:
    http://news.yahoo.com/iran-military-shoots-down-u-drone-state-tv-142804389.html

    Data on ‘Beast of Khandahar’ or Lockheed RQ-170 drone:
    http://en.wikipedia.org/wiki/RQ-170_Sentinel

  4. 4
    zman Says:

    re 3 – yeah, they commented that since it was a clear violation of their borders they will be taking antiaircraft measures over their borders.

    ZeroHedge’s comment: “Got Brent?” Which is a pretty good question at this point.

    ZEB positions tab updated:
    http://zmansenergybrain.com/subscriber-data/holdings-wiki/

  5. 5
    zman Says:

    Seems a bit silly to try to quantify impact on oil due to Iran possible troubles but here is Pimco’s thoughts on the matter:

    http://www.zerohedge.com/news/pimcos-4-iran-invasion-oil-price-scenarios-140-doomsday

  6. 6
    zman Says:

    Oil bumping up in the early going

    http://www.cx-portal.com/wti/oil_en.html

  7. 7
    zman Says:

    Equity futures running early too

    http://www.bloomberg.com/markets/stocks/futures/

  8. 8
    skimo Says:

    Article suggests solar may be equivalent price to fossil fuel by 2015(probably not) or 2017.
    http://www.bloomberg.com/news/2011-12-02/india-s-solar-power-bid-prices-sink-to-record-consultant-says.html

  9. 9
    J.J. Dawson Says:

    New to the site.
    Is there a post defining the portfolios and objectives of each? How is LT defined?
    What are the differences in between the A and B portfolios other than inception date?
    Thank you

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