20
Jun
Wrap – Week Ended 6/17/22
.
.
Tough week in the energy space with the ZLT down ~17% on the week with energy benchmarks down 17 to 20% as the markets and commodities fell with in a summer swoon over inflation / recession fears exacerbated by the quad witch. Markets may remain unsettled. Our names are largely low forward multiple and high forward yield at oil and gas prices well below current levels and all of our core plays have strong balance sheets. We have been slowly adding to held positions while evaluating new adds to the portfolio.
Free Stuff Last Week: None
Holdings Watch:
- We added to one solar name, one upstream oily name, one upstream gassy name, and on oil service name.
- The blotter is updated.
Questions under The Wrap will be addressed in the Tuesday post.
Questions about the site may be directed to zman@zmansenergybrain.com
Have a good rest of the long weekend,
Z
.
Interesting article on Chinese refining policy and its refusing industry structure and growrth.
Massive Oil Refining Capacity Idle in China as Prices Soar
https://www.bloomberg.com/news/articles/2022-06-19/massive-oil-refining-capacity-idle-in-china-even-as-prices-soar
June 20th, 2022 at 7:07 amThe ‘SHADOW WAR’ seems to be coming out of the shadows.
https://www.wsj.com/articles/israel-expands-operations-against-iranian-nuclear-military-assets-11655726066
June 20th, 2022 at 1:11 pmRe 1 & 2 – Interesting, Thanks
June 20th, 2022 at 2:49 pmBroad Mkt.
S&P Touching next potential support 3684. Extreme oversold on the DeMark Sequential…
Last week saw the 4th and 5th biggest sell programs in history, HT Zerohedge.
Fear and Greed Index at extremes.
Asset Managers own the lowest level of S&P futures since ’16 H/T Christian Fromhertz
and so on..
Daily Any bounce also looks to be sold short of 3900-4000..
65 Minute Chart
https://ibb.co/VNMV40D
S&P Looks to open above value area highs/potential support at 3700 for Tuesday. Value area lows at 3669.
June 20th, 2022 at 4:36 pmhttps://ibb.co/7n8xrk5
XLE Sector ETF
June 20th, 2022 at 4:52 pmTest longer term acceptance at 73.88. Found buyers here on the last two tests lower.
Weekly
https://ibb.co/Qf8S7qd
Daily Broke uptrend and value area lows on heavy volume. Next potential support at 68.56
https://ibb.co/Qf8S7qd
XOP Testing value area lows/support at 128.87 on heavy volume….Next support below at previous acceptance 124.51. Less correlation with the broader market. 128.87 needs to hold..
June 20th, 2022 at 4:58 pmDaily
https://ibb.co/Qf8S7qd
July Crude Futures..Range well defined between 102 and 111.97.
June 20th, 2022 at 5:02 pmDaily
https://ibb.co/bWM5mNz
Nat Gas Futs broke below value last week. Next potential support at 6.50.
June 20th, 2022 at 5:06 pmDaily
https://ibb.co/cQyCtGJ
I’ll post all individual Z stocks in the room Tuesday mid morning..
June 20th, 2022 at 5:08 pmThanks Zorg.
June 20th, 2022 at 9:55 pm