06
Apr
Wrap – Week Ended 04/05/13
In progress, comments TBA
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Due to better than expected weather wrap comments will be incorporated into the Monday post.
April 7th, 2013 at 1:04 pmRead this before Thursday's BCEI investor day:
http://seekingalpha.com/article/1281991-bonanza-creek-the-ponderosa-only-gets-better
Look for BCEI management to spend a considerable amount of time Thursday defending their Cawley Gillespiet based EURs in the Wattenberg.
April 7th, 2013 at 1:08 pmWord is out here in Pittsburgh that EQT has a 4-well pad in Greene County doing 120 Mmcfe/d
April 7th, 2013 at 5:26 pm
April 7th, 2013 at 5:28 pmS&P 500 Futures Long Term Levels Of Interest 4/7/13
Notes. Market closed Friday slightly below quarterly, monthly and weekly Point of Control. (POC). Demand volume is positive but fading and large trader volume is flat/weak favoring additional testing lower. A rejection of the quarterly and monthly POC at 1549.25 targets Major Support CLVN/Volume Gap at 1527. Whether this proves to be a reversal or transition area lower is unknowable. Extended target at 1508 CHVN with far support at 1505 if 1527 fails as a reversal CLVN. A break above 1555 with renewed volume demand and large trader volume would swing control back to the bulls in the short term. Complicating the read is that POMO is highly supportive through the end of April and dips to 10 day range lows have very high odds of reversing higher short term. Further complication the mix is the $USD appears to be losing demand and I expect a test of recent range lows at 82.31. A break of 82.31 has a major downside target is the mid 80’s. Seeing large trader volume moving back into Euro and out of the Yen.
Thoughts. Market is trading within a few points of the long term point of control at 1549.50. Market has traded around the the 1549.25 CHVN for over a month and is ready for a move. Volume studies at this time favor another attempt at a rejection of current POC (1549.25) as too high. Reaction at 1527 is key to the depth of any correction with 1508 as likely target if 1527 fails at support. This scenario would be negated with a move back above 1555. Major moves begin and end at major CHVNs and we're at one now…
1549.25 Major CHVN/POC
1527 Major CLVN
1508 Major CHVN
http://i1223.photobucket.com/albums/dd503/zorgnak/ESLT_zps806caf32.png
re 3 – a little better than COG- multi well pads of late … monster rate that.
Thanks much Zorg.
April 7th, 2013 at 5:31 pmVolume pressure reversing in these currencies on Friday
$USD
http://www.charthub.com/images/2013/04/07/Stock_Weekly_2_1304070909.png
Euro
http://www.charthub.com/images/2013/04/07/Euro_Master_1304070921.png
April 7th, 2013 at 5:50 pmCL Returning to acceptance at 93. Expecting consolidation.
April 7th, 2013 at 6:05 pmhttp://www.charthub.com/images/2013/04/07/Crude_Oil_Multi_Period_1304071602.png
Nat Gas Strong large trader volume on Friday. 3.90 support
April 7th, 2013 at 6:14 pmhttp://www.charthub.com/images/2013/04/07/NG_Master_1304071612.png
re 3 – D Edwards – any info on lease name or location? Thx
April 8th, 2013 at 9:22 am