05
Jun

Wrap – Week Ended 06/04/21

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Six posts a week since 2006.  Come take a test drive. Contact zman@zmansenergybrain.com.

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Holdings Watch:

  • We sold our position in SLB up 42%.
  • We added to a smaller service name,
  • We added to a niche EV name,
  • We added SWN back to the portfolio (see below),
  • The blotter is updated.

Free Stuff: 

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

Questions about the site can be addressed to zman@zmansenergybrain.com.

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8 Responses to “Wrap – Week Ended 06/04/21”

  1. 1
    crysball Says:

    Watch IRAN’s Tondugyan refinery at the moment it went up in flames.

    Notes
    1.it is located on theSouth side of TEHRAN.
    2. See the cameraman focus in on a gasoline tank that is spewing gasoline from high on the side of the tank, just before the tank collapses, explodes. And fire spreads through nearby Pipelines and adjacent petrochemical tanks.
    3.It’s unclear how many tanks burned…..apparently 16.
    4. Fire burned for 2 days.
    5. According to Iran media as of late Friday the REFINERY is back in operation🤗 and running normally😄😄😄.

    https://ifpnews.com/video-the-moment-fire-started-at-tehrans-refinery

  2. 2
    zman Says:

    re 1 – yeah, a bit skeptical of that. Although, could be one isolated tank farm, given that the refinery itself is not in view in the videos I’ve seen.

  3. 3
    zman Says:

    Oil Speculators: NYMEX net non commercial long vs shorts rallied back to 6.0x vs 5.7x in the prior week. Below 6x we see as unremarkable. Above we see as setting up more volatile moves on any negative news. We note this metric has gone borderline noteworthy a couple of times in the last 8 weeks and we’ve seen pretty good pull backs in price come at those times (tied to Iran news largely) in the week before it peaks and then eased.

  4. 4
    crysball Says:

    More fires in Iran……this time in oil field facilities in SW Iran

    https://www.voanews.com/middle-east/voa-news-iran/oil-facility-fires-reported-irans-southwestern-ahvaz-region

    Note the analyst in this Voice of America article states the damage to the Refinery in Tehran (Fire earlier in week as noted in 1 above) was major…..and the Refinery will have to be rebuilt…..not the tune the Gov’t of Iran was singing.

    Speculation as to cause set aside……it is a fact maintenance is a real problem in Iran…..as well as mismanagement…..in part because political & military (IRGC) connections are far more important than technical credentials.

  5. 5
    Zorgnak Says:

    A few ZLT stocks that are at interesting levels…
    FLMN Reversal bar on Friday but still holding just below breakout levels. Demand volume positive…
    https://i.postimg.cc/yYV57FKg/flmn.png

    QS Consolidating around acceptance at 28.50 or so. demand volume becoming more positive..Value area low now at 26.70…Watching for a break of 30…
    https://i.postimg.cc/xT2k81pb/qs.png

    PLUG Working off the recent extreme extension sideways holding steady above defined support at 30…above 35.09 …room to move quickly…
    https://i.postimg.cc/GpJg02fJ/plugd.png

  6. 6
    Zorgnak Says:

    ACTC Ran to the March value area highs 19.16….Above 19.16 supply drops off until major resistance at 22. Demand volume still supportive of higher..Defined support at 18.44..
    https://i.postimg.cc/Twy6TnXv/actc.png

  7. 7
    Zorgnak Says:

    Solar group as a whole (TAN) sold at major resistance last week (80.50). Pulling back now to previous acceptance at 74.94. Demand volume flat.
    https://i.postimg.cc/zGn3rZFF/tan.png

    Relative strength in two Chinese solar stocks (not ZLT owned) ..JKS and DQ…Both are setup for higher and have relatively cleaner looking charts with stronger looking demand volume trends than the other solar players atm…
    JKS…Trading above support and major acceptance at 39.50…Breakout level at 40.12…next major resistance at 51…fast mover, 16% short..Demand volume
    https://i.postimg.cc/2jKxqhRX/jks.png

    DQ Trading above major acceptance/support at 76..setup for potential breakout now…93 next major level of resistance if/when it breaks higher..
    https://i.postimg.cc/XNdP9n4b/dqd.png

  8. 8
    Zorgnak Says:

    NG Gas establishing value above 3….something you don’t see everyday…

    https://i.postimg.cc/JnDdtL4G/ng.png

    WTI…Continued to run after breaking above May’s value area..Demand volume still pointing northward in multiple time frames..as of Friday..
    https://i.postimg.cc/zXBHhGYt/cl.png

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