Wrap – Week Ended 04/20/12

Tweet

Follow me

 

We published this article on Midstates Petroleum (MPO) to Seeking Alpha on Friday after the close. 

Comments for the wrap will be incorporated into the Monday post.

 

Tweet

Follow me

Share this:

• Share

• Twitter
• LinkedIn
• Facebook
• WhatsApp

22 Responses to “Wrap – Week Ended 04/20/12”

1. 1
   Augusto Meoli Says:
   

   Zman – I am a little surprised that the oil services companies are struggling so much of late. The rigs count are is still growing. Shouldn't these companies be steady instead of being down 50%?.

   April 22nd, 2012 at 11:12 am
2. 2
   zman Says:
   

   re 1 – Good question, headed out to grab some sun, will address in the Monday post. 

   Also got an emailed Cline shale question, will address in Monday post as well. 

   April 22nd, 2012 at 11:16 am
3. 3
   Zorgnak Says:
   

   S&P500 Weekly
   S&P500 Last week the market continued large rotations through the low the volume zone from 1370 to 1386 (yellow area on chart) with the selling volume
    now dominating above the volume range pivot at 1377. Look for upside volatility to be  muted above 1377 with selling concentrated around 1383.
   1365 is downside acceptance with key short term support at 1360.25.  Major support at 1347.50.
   Demand volume is flat to negative. Breadth weak. POMO rising from negative to neutral. 10 Day price range neutral. VIX Daily and Intraday Neutral.
   No econ news Monday. Earnings and Currency main  tells.
   Expecting choppy downside bias.

   http://www.charthub.com/images/2012/04/22/ES_Weekly.png
    

   April 22nd, 2012 at 12:52 pm
4. 4
   Zorgnak Says:
   

   XLE Weekly
   Expect XLE to consolidate above 68 after the down trend.
   Support/Resistance 68/70.25..gap above 70.25 with volume air pocket to 71.
   http://www.charthub.com/images/2012/04/22/Stock_Weekly_1_2.png

   April 22nd, 2012 at 1:48 pm
5. 5
   Zorgnak Says:
   

   E&P Group
   Expect choppy consolidation above 31.50 Zman E&P Index and 51.61 XOP into earnings season.
   http://www.charthub.com/images/2012/04/22/Stock_Weekly_1_4.png
   Breadth still stretched to extremes in both the short and intermediate term.
   http://i1223.photobucket.com/albums/dd503/zorgnak/EP_Breadth.png
   Selling volume has flattened out, yet to be replaced by demand volume.
   http://i1223.photobucket.com/albums/dd503/zorgnak/EP_Demand_Volume.png

   April 22nd, 2012 at 1:49 pm
6. 6
   Zorgnak Says:
   

   WPRT 36% haircut to major support at 32.
   http://www.charthub.com/images/2012/04/21/Stock_Weekly_5.png

   CLNE 25% off March highs. At price support but into volume gap. Could see flush lower to 17.50's on stop triggers and
   head and shoulders neckline at 18.30. Next acceptance lower at 16.47.
   http://www.charthub.com/images/2012/04/21/Stock_Weekly_6.png

   GLNG Found volume support at 35.35 bounced to overhead congestion.
   http://www.charthub.com/images/2012/04/21/Stock_Weekly_7.png

   April 22nd, 2012 at 1:50 pm
7. 7
   Zorgnak Says:
   

   BTU
   High volume break of resistance at 29.80, ran to far resistance at 31. Pulled back to 29.80. A hold above acceptance
   at 28.60 would be a change of character for this one. No hurry…a world of congestion above.
   http://www.charthub.com/images/2012/04/21/Stock_Weekly_3.png

   April 22nd, 2012 at 1:53 pm
8. 8
   Zorgnak Says:
   

   CLR High volume break of resistance ran to far resistance. Trading between support/minor resistance 84/86.75.
    Major value level above at 88. Far resistance 91.Long and short term
   demand volume positive. Long on the breakout, may add on pullback to 84.
   http://www.charthub.com/images/2012/04/21/Stock_Weekly_4.png

   KOG High volume bounce off support at 8.50 into congestion at 9. Near resistance at 9.35.
   http://www.charthub.com/images/2012/04/21/Stock_Weekly_9.png

   APC 20% off it's 2011 Highs at major support at 71. DeMark daily and weekly exhaustion signals.
   http://www.charthub.com/images/2012/04/21/Stock_Weekly.png

    

   April 22nd, 2012 at 1:53 pm
9. 9
   Zorgnak Says:
   

   CIE Trapped longs above 28..
   http://www.charthub.com/images/2012/04/21/Stock_Weekly_8.png

   CRR Closed heavy on support at 86.48. Mind the volume gap below to 83.20.
   http://www.charthub.com/images/2012/04/21/Stock_Weekly_10.png

   TPLM Volume washout on 4/17?..major resistance at 6.47.
   http://www.charthub.com/images/2012/04/21/Stock_Weekly_11.png

   April 22nd, 2012 at 1:54 pm
10. 10
    Zorgnak Says:
    

    BCEI Support 19.80
    http://www.charthub.com/images/2012/04/21/Stock_Weekly_12.png

    REXX Stretched to far far support….major acceptance above.
    http://www.charthub.com/images/2012/04/21/Stock_Weekly_13.png

    EGY 8.23/9.22 Support/Resistance
    http://www.charthub.com/images/2012/04/22/Stock_Weekly_2.png

    April 22nd, 2012 at 1:55 pm
11. 11
    Zorgnak Says:
    

    NFX Vulnerable to the low 28s
    http://www.charthub.com/images/2012/04/22/Stock_Weekly.png

    SDRL Resistance 38.50. Closed at acceptance 37.73. Support 36.42
         Watch reaction from acceptance. Demand volume remains positive.
    http://www.charthub.com/images/2012/04/22/Stock_Weekly_3.png

    FTK Solid acceptance 12.10-12.25. Support 11.68
    http://www.charthub.com/images/2012/04/22/Stock_Weekly_4.png

     

    April 22nd, 2012 at 1:55 pm
12. 12
    Zorgnak Says:
    

    SU Support/Resistance 29.74/32.31
    http://www.charthub.com/images/2012/04/22/Stock_Weekly_1.png

    April 22nd, 2012 at 1:56 pm
13. 13
    Zorgnak Says:
    

    SM   25% free fall from YTD highs.. Consolidating above minor support at support at 63.53
       far support at 60.87.  Earnings outlook?
    http://www.charthub.com/images/2012/04/22/Stock_Weekly_1_5.png

    April 22nd, 2012 at 2:11 pm
14. 14
    RMD Says:
    

    Barrons has a longer term bullish guess on nat gas -a short piece.  Also a full page bullish on DVN.

    April 22nd, 2012 at 6:43 pm
15. 15
    zman Says:
    

    Thanks for all the charts Zorg , thanks RMD, I might run out and grab a Baron's just to read the NG piece. 

    April 22nd, 2012 at 7:11 pm
16. 16
    nrgyman Says:
    

    Also in Barrons this weekend, an article from Thursday recommending RRC and KBR to capture an eventual turnaround in US natgas:  
     
    http://online.barrons.com/article/SB50001424053111903835404577354203438713984.html?mod=BOL_hps_oe
     
     

    April 22nd, 2012 at 8:38 pm
17. 17
    choices Says:
    

    Thanks, Zorg, for your work and charts.

    April 22nd, 2012 at 10:03 pm
18. 18
    choices Says:
    

    OT-Japanese debt-scenario looks familiar:
    http://blogs.cfainstitute.org/investor/2012/04/19/the-japanese-debt-crisis-has-japan-passed-the-point-of-no-return/

    April 22nd, 2012 at 10:32 pm
19. 19
    Zorgnak Says:
    

    # 15 & 17 You are most welcome…

    April 23rd, 2012 at 5:49 am
20. 20
    Zorgnak Says:
    

    Re# 10 BCEI adjust support to 19.64

    April 23rd, 2012 at 6:34 am
21. 21
    Zorgnak Says:
    

    S&P 500..testing support at 1360.25 in the O/N session…

    April 23rd, 2012 at 6:37 am
22. 22
    milepost_43 Says:
    

    CLNE….thanks Z for charts….see CLNE reports 5-7 AH…..will be before WPRT…..

    April 23rd, 2012 at 7:17 am

Leave a Reply