Wrap – Week Ended 05/20/22



ZLT up 4.9% last week, supported by our core upstream names and a bounce in the small renewables wedge of the portfolio. Traditional energy ranged from up 0.3% (XOI) to up 2.4% (XOP). We have a number of names near their 52 week highs while trading at/near record forward implied yields, but still at forward multiple recent lows on conservative price decks ($80 and $4.25 for 2022).

Free Stuff Last Week Watch:  None

Holdings Watch:

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Questions and comments under The Wrap will be addressed in the Subscriber Mailbag section of the Monday post as needed.

Have a good weekend,




9 Responses to “Wrap – Week Ended 05/20/22”

  1. 1
    Zorgnak Says:

    If you’re still looking…
    Energy as a % of the S&P 500. As of 5/20. Per Fidelity

    Some other data on the sector.

  2. 2
    Zorgnak Says:

    JP Morgan’s 2022 Energy Paper

  3. 3
    zman Says:

    Thanks Zorg.

  4. 4
    Anonymous Says:

    Stocks that have broken above their value area highs…Looking for another leg up.
    CIVI 3rd try. Needs to get above 66 to leg up.

    Daily Demand volume supports a move higher/
    65 Minute

  5. 5
    Anonymous Says:

    SHLS Held the break above value during last weeks volatility. Demand volume continues to trend up. Begins to clear major supply with a move above 16
    65 Minute Closed the gap last week…looking to retest that level.

  6. 6
    Anonymous Says:

    AR Broke and held above value last week. Demand volume supportive of higher.
    65 Minute Next upside target at 37.48

  7. 7
    Anonymous Says:

    TPIC has been on a run and about to test it’s value area high for the month. 16 is the big breakout level to my eye. Clears congestion with a large volume gap to run through.

  8. 8
    Zorgnak Says:

    General Market
    S&P futures open up this evening. The 3900 level remains the point of control in the market. Note the volume gap above 3792. Room for a bounce but defined resistance and a years worth of supply just overhead starting above 4100. If acceptance at 3900 fails to hold next area of support is at 3600..

  9. 9
    Zorgnak Says:

    Crude Oil Opened up this evening. Trading well above previous value. Support briefly last week and looks to test 115 again.

    Nat Gas Futs Consolidating within an uptrend.

    7.86 is a level of interest going back to the beginning of May….Currently it is acting as support..
    2 Hour chart

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