Wrap – Week Ended 3/8/19

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Ugly week for energy equities from the integrated names to Service (down 4 to 8%) with oil and natural gas flat.  Norway ... sure, but understand that wasn't a greening of policy as much as recognition of diversification.  It's $1 T sovereign fund, with $38 B in energy assets and $8 B that look to be for sale. But we get that it's funny to say "Trillion".  Check out our U.S. upstream ownership profile for the fund in Friday's post ... yes they own a lot of names in the U.S. E&P space but all but one are below 1% of outstanding shares. Notably, even TAN, the solar ETF fell 7% on the week.   People should relax. 

We did start our Spring re-balancing trades on Friday and the blotter is updated

Questions and comments under The Wrap will be addressed in the Monday post. 

5 Responses to “Wrap – Week Ended 3/8/19”

  1. 1
    Baylor Says:

    I'm sure it was mentioned here and i missed it or forgot, but H. Hamm bout almost 900,000 shares of CLR on 2/22/19 at about $45 / share

    Stock closed friday at $39.90.  Over the last several years, any opportunity in the $30s seems to have been well rewarded in the next 6 months or so. 

    Generational buy opportunity?


  2. 2
    Baylor Says:

    Also, UGAZ seems to be setting up for a choice short again for some of you here that have been trading DGAZ / UGAZ

  3. 3
    Baylor Says:

    So we'll now be producing and exporting more oil than Saudi Arabia soon.  Are our E&P companies drilling themselves out of profitability?  We've been in neutral for several years since the collapse from July 2014.  Trying to take a longer term view here, is this setting a very firm foundation for profits coming soon and stock appreciation?  We haven't seemed to flip the sell the rips scenario since the July 2014 peak.  Is this common for energy to go this many years?  I know the focus has been on improving shareholder value but it has been a very long patient wait and trading seems to be the only way to try to dig out.

    Has the energy sector been more volatile the last 5 years than historically speaking?  I have a pretty balanced portfolio and it's not uncommon to see +/- 20% swings or more in relatively short time frame.  As an "investor" that has made it difficult to profit much as we've seemed to be in lower high situations for quite a while.


  4. 4
    zman Says:

    re 1-3 – questions will be addressed in the Monday post, thanks. 

  5. 5
    home page Says:

    home page

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