Wrap – Week Ended 6/17/22

Posted on by zman

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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

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10 thoughts on “Wrap – Week Ended 6/17/22”

  4. Broad 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.
    https://ibb.co/7n8xrk5

  6. 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..
    Daily
    https://ibb.co/Qf8S7qd

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