Investing

[CMRivdogs]

52 minutes ago, Screwball said:

I'm rooting for Miami and Akron, and mid-majors in general.

Roots in Ohio and the U of Toledo.

VCU upset UNC, I have ties to neither school. My wife’s a UVa grad and I grew up near VaTech. Richmond’s just up the road so anyone who can cutdown the Carolina Blues is considered a friend. An oh yea, Duke almost got there’s handed to them. That would have made it a very good day

[Tigeraholic1]

 

 

[gehringer_2]

19 minutes ago, Tigeraholic1 said:

 

 

that's fine. The S&P has also lost $3 Trillion dollars in equity since this escapade started. A good chunk of that has disappeared from American's pension and retirement accounts. Paying a higher price for methane would be the better deal if you could get it.

I'd also note that the only reason nat gas prices in the US are not up is because we don't have the export capacity to move more gas to where the price is better. You can bet that if we did, you would not be getting much discount from world prices out any patriotic bleeding heart of US producers. And you can bet producers are doing everything they can to get to where they have the infrastructure to export more.

Edited Friday at 07:21 PM by gehringer_2

[Tigeraholic1]

32 minutes ago, gehringer_2 said:

that's fine. The S&P has also lost $3 Trillion dollars in equity since this escapade started. A good chunk of that has disappeared from American's pension and retirement accounts. Paying a higher price for methane would be the better deal if you could get it.

I'd also note that the only reason nat gas prices in the US are not up is because we don't have the export capacity to move more gas to where the price is better. You can bet that if we did, you would not be getting much discount from world prices out any patriotic bleeding heart of US producers. And you can bet producers are doing everything they can to get to where they have the infrastructure to export more.

In other words, the U.S. is insulated from the global natty gas market due to home cooking.  

[gehringer_2]

7 minutes ago, Tigeraholic1 said:

In other words, the U.S. is insulated from the global natty gas market due to home cooking.  

and this war is costing us a lot more than what we may save in nat gas prices.

[CMRivdogs]

Petrol running $3.99 a gallon at local watering holes.

Thanks Maga

[Tigeraholic1]

Thanks Biden 

[CMRivdogs]

UH, this is 2026, not 2023. 

[Dan Gilmore]

$4.69 here. 🙁

[Screwball]

21 hours ago, CMRivdogs said:

VCU upset UNC, I have ties to neither school. My wife’s a UVa grad and I grew up near VaTech. Richmond’s just up the road so anyone who can cutdown the Carolina Blues is considered a friend. An oh yea, Duke almost got there’s handed to them. That would have made it a very good day

The MAC got smoked today and should tell us how bad they really are. It seems like it's all about money.

Of topic, but this is an investment thread. 🙂

[Screwball]

We need some chart porn. The weekend is upon us and the markets are closed. WTI closed around $98 and I will spare you the chart porn on that, but let's peek at the S&P. As documented above, the 6550 level was the main support going back to October of last year. The market has traded above that since.

Until today. The first chart is a 9 month by day showing how we just breached the support to the downside. Not a lot under that, and a gap to fill. The second chart is today's one minute action where it bounced around that level until around noon, an then took a poop. Now a close, on a Friday in a bad place if you believe in the technicals.

Today

 

 

[gehringer_2]

it dipped to ~6250 on 'Tariff Day' (Aug 1 last year). Hit that and it would just about be down 10% = "a correction"

Edited Saturday at 01:33 AM by gehringer_2

[Screwball]

46 minutes ago, gehringer_2 said:

it dipped to ~6250 on 'Tariff Day' (Aug 1 last year). Hit that and it would just about be down 10% = "a correction"

The low was 6212 that day. A soft level of support. There is some above that as well, around 6350ish. The charts say, and I'm guessing some are betting, the gap at 6028 gets closed as they all do. Giddy up!

[Screwball]

Chart porn. Today was fun to watch. It looked like it was going to be another ugly day given what went on over night, depending on what you hear, read, and believe. Also as shown above, if you are a chart guy, we didn't close in a good place Friday. Broke to the downside of a significant support level. One might think the market tanks on Monday.

I can't use the S&P as above because they were not open until 9:30 today, but the this is the e-mini S&P futures. First chart shows the trading range we have been in since the big **** it took back in October of last year (left yellow arrow). The arrow pointing to the right shows how the market turned around today after the news about the war hit the airwaves at 7:05 according to the candles. 

 First a 9 month chart by day.

Watching the daily minute print really shows how crazy it was. The big green spike higher was at 7:05. Has now gave some back. Wild ****. I'm sure some had a really bad day.

Edited 1 hour ago by Screwball

[Screwball]

Bonus porn. Crude looks like the reciprocal; WTI light sweet.

[gehringer_2]

48 minutes ago, Screwball said:

Bonus porn. Crude looks like the reciprocal; WTI light sweet.

The talks announcement came out, the inside traders already had their bets down. Now it will take day or two when nothing good happens for that bit of false optimism to evaporate (or for everyone to figure out the announcement was purely a market play) and the S&P will resume its down trend and WTI will float back up to $100.