approaching yesterdays high...
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Last: 3 hrs ago by ProgN
We shall try this again today. Clear 376 and it's tradeable to 385 I think. FJ posted a chart showing as much I believeSpoony Love said:
SPY clearing 376 would do much to see a higher push near 385 (not today, but maybe by next week) from what I see. We pushed out of a downward trend I've been following since March, and 385 would be a support to stay clear of it. Fingers crossed.
prescient Brother Ag!Ag CPA said:
This just feels like another one of those days where around noon tomorrow people are going to be saying "WTF was I thinking?".
you are going to sell all your equities by August 31?Bonfire1996 said:
I'm more convinced than ever that we have a Summer rally as inflation statistics start to show significant slowing.
But the damage is done and we begin to see significant layoffs in September and then we resume the bear market through Christmas at least. I'm likely going all cash Aug 31.
so either locking in a large amount of losses, or paying capital gains taxes and trying to time the market?
keep us informed as to how things go.
Farmer @ Johnsongrass, TX
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You are seeing normalcy first hand in your business.
Demand destruction is a talking point getting media play. Any vacations that were thought of being canceled due to fuel costs just got reprieve from FJB gas tax holiday.
Fossil fuels aren't going away for minimum another 20 years.
There's a thread on the politics board about EV charging stations throughout Texas regarding a doc published by TXDOT. It's a 51 page doc defining the process. I read it multiple times over the weekend, because I spent yesterday hammering phone lines with TXDOT trying to find a contact responsible for all these EV charging station locations the State wants. I have a Family Trust property on I-35 that I want to unload. Lets just say, that document reads well and is very enlightening, appears very professional and looks like a hellava plan....after what I experienced yesterday from personal investigation with TXDOT,....not worried one bit at all. Fossil fuels will be here a log time and I am not concerned with the TXDOT document or the Gigawatt Factory. Go Elon! Until then, Go XOM & CVX!
Demand destruction is a talking point getting media play. Any vacations that were thought of being canceled due to fuel costs just got reprieve from FJB gas tax holiday.
Fossil fuels aren't going away for minimum another 20 years.
There's a thread on the politics board about EV charging stations throughout Texas regarding a doc published by TXDOT. It's a 51 page doc defining the process. I read it multiple times over the weekend, because I spent yesterday hammering phone lines with TXDOT trying to find a contact responsible for all these EV charging station locations the State wants. I have a Family Trust property on I-35 that I want to unload. Lets just say, that document reads well and is very enlightening, appears very professional and looks like a hellava plan....after what I experienced yesterday from personal investigation with TXDOT,....not worried one bit at all. Fossil fuels will be here a log time and I am not concerned with the TXDOT document or the Gigawatt Factory. Go Elon! Until then, Go XOM & CVX!
Algo drop at 10 am for some reason? Looks like decent buying up against it.
I'm leaning toward that as well. 378 is a resistance but I think a weak resistance.. Buying appears it will take it through that level. My opinion is 378 get's tested again and SPY moves past it.texagbeliever said:
Algo drop at 10 am for some reason? Looks like decent buying up against it.
I wish I could find some hard data to back it up, but my anecdotal observation is that there is some demand destruction (or more accurately, softening) on the consumer side as far as summer travel. We live in a place that can be pretty much only reached by most visitors by a long drive (Ruidoso, NM) and the drop in vacation traffic compared to this time last year is very noticeable. I'm not close enough with any local business owners to get some hard YoY number comparisons, but I'm very curious.
One piece of data I do like to look at and plot is TSA traveler counts. While we've never reached 2019 numbers again since COVID, we were at least trailing it pretty closely for most of the spring. But, we do seem to be falling a little bit more behind on the summer travel bump. Nothing catastrophic, but does seem to support consumer demand softening.
One piece of data I do like to look at and plot is TSA traveler counts. While we've never reached 2019 numbers again since COVID, we were at least trailing it pretty closely for most of the spring. But, we do seem to be falling a little bit more behind on the summer travel bump. Nothing catastrophic, but does seem to support consumer demand softening.
regarding the demand destruction:
drove 71 miles from Winchester VA to Bethesda last saturday afternoon.
there are times that traveling 4 miles on the Beltway around Tysons Corner could take more than an hour.
I did the entire 71 miles in one hour, 21 minutes.
which means there is no tourist traffic in the DC area and even not many of the 7 million metro area residents out and about at the malls.
drove 71 miles from Winchester VA to Bethesda last saturday afternoon.
there are times that traveling 4 miles on the Beltway around Tysons Corner could take more than an hour.
I did the entire 71 miles in one hour, 21 minutes.
which means there is no tourist traffic in the DC area and even not many of the 7 million metro area residents out and about at the malls.
Ok, tell me where this is wrong, ProFrac has a greed to purchase USWS for an all stock deal for $1.21 per share. If it is sitting at .97 right now, why wouldn't purchasing shares be a good idea? Seems like an easy 30% gain?
Spoony Love said:
Ok, tell me where this is wrong, ProFrac has a greed to purchase USWS for an all stock deal for $1.21 per share. If it is sitting at .97 right now, why wouldn't purchasing shares be a good idea? Seems like an easy 30% gain?
The market doesn't have a lot of confidence in the purchase
I think it is just like the Twitter deal with Musk-Spoony Love said:
Ok, tell me where this is wrong, ProFrac has a greed to purchase USWS for an all stock deal for $1.21 per share. If it is sitting at .97 right now, why wouldn't purchasing shares be a good idea? Seems like an easy 30% gain?
if something happens and the deal doesn't conclude- you could be hosed with your stock plunging in value.
Well. I guess that would make sense but I wonder if it's not worth the small amount.
BABA looks to be setting up here....charts of FUTU and TIGR were going around twitter last night as potential plays. These China names have been some of the best plays recently
VIX below $29 we should push up into the close..
Why does this feel like a slow bleed into red close.
Well, make that not slow.
Both interest rates and equities are retreating. One should reverse soon
Well, that day was a big nothing.
Common stock doesn't get $1.21. They get a fractional share of ProFrac which is now down 10% for the day. If you love ProFrac for the next 6 months, have at it.Lake08 said:Spoony Love said:
Ok, tell me where this is wrong, ProFrac has a greed to purchase USWS for an all stock deal for $1.21 per share. If it is sitting at .97 right now, why wouldn't purchasing shares be a good idea? Seems like an easy 30% gain?
The market doesn't have a lot of confidence in the purchase
Powell's Sentate hearing was interesting and Biden proved once again he has no idea what he's doing.Brian Earl Spilner said:
Well, that day was a big nothing.
Fed sounds like they're leaning towards a 50bps hike in July and 25bps hikes after that. I believe the market is pricing in more aggressive rate hikes, so we might get a nice rally through the summer. We will see. I went long last week but hedging my bets.
Why slow down on the rate hikes, because the fall elections?
Because demand is dropping fast and they don't want a deep recession. These rate hikes are temporary. Rates will go back to zero as soon as supply chain issues are resolved. I think rates will be zero before the 2024 elections.Premium said:
Why slow down on the rate hikes, because the fall elections?
Biden: "For all Republicans criticizing me for high gas prices in America, are you now saying we were wrong to support Ukraine and stand up to Putin? Are you saying that we'd rather have lower gas prices in America than Putin's iron fist in Europe?" pic.twitter.com/Z7U8YIFgnM
— Greg Price (@greg_price11) June 22, 2022
Good lord if we blame Biden for gas prices then we support Putin. GFY you POS.
Thanks for that info, I must have missed that.Dr. Alister MacKenzie said:Common stock doesn't get $1.21. They get a fractional share of ProFrac which is now down 10% for the day. If you love ProFrac for the next 6 months, have at it.Lake08 said:Spoony Love said:
Ok, tell me where this is wrong, ProFrac has a greed to purchase USWS for an all stock deal for $1.21 per share. If it is sitting at .97 right now, why wouldn't purchasing shares be a good idea? Seems like an easy 30% gain?
The market doesn't have a lot of confidence in the purchase
Farmer @ Johnsongrass, TX
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My infamous quote, "Fed ain't gonna raise no rates" was based on - the Fed would make a mistake in raising rates on Cost Push Inflation. Bernanke wrote much on this. Conversely, raising rates on Demand Pull Inflation curbs the excess demand. But, during energy/oil Cost Push Inflation, the price of oil curbs the demand and puts the brakes on the economy, it's self limiting...don't mess with it, right? With the Fed now raising rates on Cost Push Inflation, the Fed risks crushing the economy. Remember Powell stating, "I can't guarantee a soft landing"? What he really said was, "I might crush the economy." Never fear the outcome, as Congress will vote for a huge stimulus right after the crush.Triple_Bagger said:
Both interest rates and equities are retreating. One should reverse soon
You would/will not get a reversal you mention above with this Fed policy above.
Today, some Congressional politician asked Powell if raising rates would reduce energy prices. Powell replied "No".
Last reference on demand destruction from me. If your S&D (Supply / Demand) shows supply is meeting demand, there is no demand destruction. Refiners are behind in satisfying current demand. Have a tight supply? You get higher prices. Until demand shrinks below supply, there's no demand destruction because the price point limiter has not been reached. (See first paragraph). Overall demand in calendar year 2022 may not be as high as calendar year <insert your choice of year> but that's a demand comparison not a demand destruction data point. Refiner supply barely meeting demand is net neutral. Doesn't matter if FJB announces permits for drilling abound and crude is available because that is misleading. FJB doesn't fill his vehicle tank with crude, he fills it with refined product. Lack of refining capacity operating under current government regulations is the bottleneck, but FJB can't say that without Green People exploding. Temporarily loosen the regulations on refineries and I'm certain refined product supply will increase. Oil companies are making money on the crack spread...more barrels through the refinery, more profit, equals more earnings. Flood the system with supply and if demand doesn't keep up, price of gas goes down. Turning up refining capacity past Gov't regulations is not Green or Carbon friendly. ... So, under current policy, price of gas will go up and so will crude. Can't wait til the Joint Chiefs of Staff tell FJB that the U.S. has a national security risk with the SPR being drained...you need to refill it now.
XOM and CVX are going to have monster 2Q's, unless the those CFO's get creative and hide profits to stay out of the Lib's media gun sights.
This mess was caused by FJB/Libs declaring they would put fossil fuels out of business and the U.S. would go Green, not Putin invading Ukraine.
Yes, give me the lower gas prices, lol.ProgN said:Biden: "For all Republicans criticizing me for high gas prices in America, are you now saying we were wrong to support Ukraine and stand up to Putin? Are you saying that we'd rather have lower gas prices in America than Putin's iron fist in Europe?" pic.twitter.com/Z7U8YIFgnM
— Greg Price (@greg_price11) June 22, 2022
Good lord if we blame Biden for gas prices then we support Putin. GFY you POS.
I also say yes b/c I know what's really going on in Ukraine. It isn't about the people and it isn't bc "meh Putin bad". Ukraine is full of neo nazi scum that align themselves with the far left here. Ukraine is also the #1 spot for dems to launder their money.
Bob Knights Paper Hands
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We've distributed trillions of extra dollars and what 2% have gone towards Ukraine? I'd start with the decisions related to the other 98% as to find blame for our economy. That includes politicians on both sides of the isle, but trying to paint it anti-ukraine is obviously being dishonest.
Can y'all take this to politics?
Triple_Bagger said:Powell's Sentate hearing was interesting and Biden proved once again he has no idea what he's doing.Brian Earl Spilner said:
Well, that day was a big nothing.
Fed sounds like they're leaning towards a 50bps hike in July and 25bps hikes after that.
Not sure how you are getting to this.
Buffet bought around 10M more shares of OXY around $55. He's up to 16% ownership now.
WEBR may be short squeeze candidate tomorrow. Heavy short interest and up pretty good AH tonight. RGS also moved 36% up today.
These are some ticking time bombs my broker never let me put a stop loss on. Did I mention before that upset me?
These are some ticking time bombs my broker never let me put a stop loss on. Did I mention before that upset me?
Brian Earl Spilner said:
Can y'all take this to politics?
Sorry to say politics plays a big role in our business and economy.
Hope they squeeze for you doc. Looks like we are close to making a decent bull push, hopefully. Down open would be helpful for this.
Futures about to go green.
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