$30,000 Millionaire said:

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a kid I work with that has figured out I trade stocks told me that he is trying to short AAPL. I asked him what the hell was wrong with him.

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Do you mind asking this kid what stock we should "short" next?

Supreme Court strikes down Biden's student loan forgiveness plan (cnbc.com)

Markets may not like this because it will decrease disposable income.

Been missing our daily XOM update. I feel like a fish out of water.

ProgN said:

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Supreme Court strikes down Biden's student loan forgiveness plan (cnbc.com)

Markets may not like this because it will decrease disposable income.

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Doing the right thing sometimes causes pain. Glad SCOTUS made the right decision.

So am I.

$30,000 Millionaire said:

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This poor guy is like 25 and he's a junior analyst. He's stationed near my office and he saw a chart on the screen, which is how he figured out that I did this.

I haven't had the heart to talk to him the last couple of days.

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If you really want to mess with him - pull up reddit's WallstreetBets where he can see it. Gonna blow his mind

South Platte said:

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Been missing our daily XOM update. I feel like a fish out of water.

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Convinced my pops to buy 150 shares with some cash he had sidelined.

He's not an Aggie but he has no idea. I almost had worlds collide when I had a business lunch and a guy asked me if I was aware of this forum,

"uh, no, I'll have to check it out".

"What's your user name"

"Uh, I just browse"

South Platte said:

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Been missing our daily XOM update. I feel like a fish out of water.

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Daily? You're getting me confused with Jerome Powell. (if you are referring to me about an XOM update)

XOM
- Should visit $109.20 to $109.50 zone soon, next week? If it punches through solidly, we go higher. Of course, in my book we are headed higher in 23H2.
- July 1st starts the Saudi volunteer cuts of 1.0mbpd
- The OPEC/Saudi announced cuts in April, starting in May, are now showing up in June data. Oil supply is tight and getting tighter.
- The cuts that start in July....I think we start hearing about supply problems in July before the data starts showing up in August.
- API and EIA reports this week reflecting 6/23 data showed draws. The EIA data showed a 9.6 million barrel draw. If you add in the Congressionally mandated 1.4 million barrel release from the SPR the draw is 11 million. Yeah, that's big.
- We are currently in the week before July 4th Holiday (otherwise known as Independence Day (LOL!)). The next EIA report should show a massive draw (over 11 million) but the Congressional Mandate SPR Release has about 3 to 4 million barrels remaining to be released and I think they'll show it all released to reduce the real draw number. Hope that made sense to you.
- The Congressionally Mandated SPR Releases should be over in June.
- Today, Baker Hughs reported an oil rig decline of one (1) rig. Lowest rig count since April 2022. Still declining.
- The S&D will be tight crude oil and that view will not change.
- OPEC announced yesterday, or the day before, that Bloomberg, Reuters and WSJ have lost their accreditation with OPEC and are not allowed to the OPEC Conference or any future OPEC meetings. You may recall, this same group of MSM reporting folk were not invited/allowed in the last OPEC Vienna meeting. LOL! The MSM reporting is a joke. They're whining about losing accreditation. For example, this morning on CNBC, Bloomberg was reporting the energy sector down +19% for YTD. That's not true. There's no wondering why OPEC would bar these scoundrels from their meeting as reporting is pro green energy and negative fossil fuels.
- Can you hear that rusty valve being turned off by the Saudi's? if you don't, just hang on. Saudi has to apportion the barrels being cut. The July 1mbpd cut has consequences. I'm guessing the U.S. gets the majority of the cut and EU gets the remainder. No need for OPEC to cut Asia. Yes, a pseudo embargo. Hopefully this cleans up the manipulation in Crude Oil Futures(an all time historic high for a Short position). Good luck to them Shorts...NY Fed especially..
- The Dallas Fed survey of 151 oil executives see crude at $77 average (WTI) by EOY. Remember, OPEC wants Brent at $80 to $85. WTI is a $4 to $5 discount to Brent. So, WTI at $77 puts Brent at $81 to $82. That's a sweet spot for OPEC. However, Joe and Blinken have P'ed OPEC off and I think OPEC shoots for +$90 Brent now (or $86 WTI). Goldman Sachs, Jeff Currie has not dropped his target of $95.
- Russia continues a strong push to get the Turk-stream pipeline completed to supply China with NatGas. Same pipe will give Erdogan/Turkey control over NatGas moving into the EU. Erdogan will have pricing control over EU. Why does Erdogan pricing control to EU matter? Well, it's like this,....Erdogan has been trying for 20 years to get into the EU and the EU votes him down....Erdogan will exact a pound of flesh from the EU..
- Energy is going higher. XOM will be going higher. The recession that has been talked about for 18 months now is not going to show up unless JP raises rates and drives the country into a forced recession. The economic numbers today and forecast do not show a recession. We will more than likely have stagflation of low/slow growth with some unemployment. Energy will move up along with essentials.

Farmer @ Johnsongrass, TX said:

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I added some PXD today. XOM:PXD spread signaled to add PXD. Added at $199.76

Just announced JB Administration entering in the arena for another 3 million barrel crude purchase for the SPR. Delivery in August. You think somebody is getting worried that crude inventories are going to see a drop. LOL! What a clown show. Doesn't matter. Patience pays. OPEC+ earlier announced cuts are showing up now and July 1st 1M bpd new cuts are about to start. Green Energy faction really really hates fossil fuels. GLTA!

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This was originally posted on 6/22.
I believe PXD might have fallen a dollar or 2 more after the post or the next day.
Regardless, PXD is $207 today.
Just watch for a $95 to a $96 spread between XOM:PXD and add a little PXD when that occurs.
It just pays.
It's not explosive moves up, but a slow winner.

Have a good weekend all. If I recall, I believe July 3rd is most bullish day of year. Wall St players doing hookers and blow in the Hampton's till July 5. Lol.

This recent push up in the market has been a real spectacle. Gives that November '21/Jan '22 feel all over again. How long will the music keep playing? I'm not sure….but shorting this market is not for the faint of heart. Extreme greed index is blaring now. A country mile from where we were just 6-8 wks ago.

BaylorSpineGuy said:

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Have a good weekend all. If I recall, I believe July 3rd is most bullish day of year. Wall St players doing hookers and blow in the Hampton's till July 5. Lol.

This recent push up in the market has been a real spectacle. Gives that November '21/Jan '22 feel all over again. How long will the music keep playing? I'm not sure….but shorting this market is not for the faint of heart. Extreme greed index is blaring now. A country mile from where we were just 6-8 wks ago.

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The student Loan pause has pushed roughly $7.8 billion per month into the economy. This has helped inflate the market imo. Just something to think about.