.
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Another solid week as we approach year end with the ZLT up 10% on the week while the energy groups were down slightly.
Year to date the ZLT is up 50.4% after a three month 107% rally.
Holdings Watch:
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12/22/20 - QS – Sold approximately 20% of our position at $101.38, up 563%. This sale more than covers our initial investment in the name and is our first sell down of the position.
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12/22/20 - PE - Sold all of our long term position in PE at average $13.85. We have written previously of our plans to sell the name ahead of the merger with PXD. We are looking at FANG as a replacement Permian here. Long term capital loss of about 35% on this name that we have owned to varying degrees since the IPO.
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The blotter is updated.
Free Stuff Last Week:
Questions and comments under The Wrap will be addressed in the Monday post. Questions about the site can be directed to zman@zmansenergybrain.com
Have a great rest of the weekend,
Z
TRUMP MAY TORPEDO COVID RELIEF BILL BECAUSE HE IS FURIOUS AT CONGRESS: WH SOURCES – WAPO
Government will shut down Tuesday unless the omnibus bill is signed.
Defense bill veto override may happen this week.
There should also be a standalone $2k bill that Trump may agree to sign this week.
JAPAN TO BAN ALL NEW ARRIVALS OF FOREIGN NATIONALS FROM DEC 28 THROUGH END-JANUARY – NIKKEI
For the record we see this as a positive for offshore wind and not a negative for BWEN. These are monopiles, not towers.
https://electrek.co/2020/12/23/new-jersey-monopile-factory-offshore-wind/
Towers are bolted on top of monopiles?
yep
don’t have to use monopile as a foundation but it’s one option.
Zorg on BWEN
“Weekly chart. Trying to break above it’s 3 year volume base…
“
NG futures called down 10%. Mild forecast.
https://www.barchart.com/futures/quotes/NGF21/performance
Trump tweet:
“Good news on Covid Relief Bill. Information to follow!”
Trump signs Covid relief bill.
and the omnibus spending bill.
BMW.DE Reportedly considering increasing EV car production by additional 250K by 2023 (to double planned EV production) – German press (BMW AG)
Plans for 20% of production to be EVs (prior targeted 8%)
re 14 – yep, saw it, thanks.