Posts Tagged ‘Bud Danenberger’

Oil Rig Expert Talks About Oil Spill In Gulf; Rain, Choppy Seas Halt Cleanup; Spill Images

Oil Rig Expert Talks About Oil Spill In Gulf; Rain, Choppy Seas Halt Cleanup; Spill Images

Courtesy of Mish 

CNN talks with oil rig expert Bud Danenberger on the rig failure in the gulf and the potential for the oil spill. Click on link to see video. Another video follows.

Oil slick spreads from sunken rig

Rain, Choppy Seas Halt Cleanup

Please consider Rain, choppy seas halt cleanup near sunken oil rig

Choppy seas, strong winds and rain halted Saturday’s cleanup of an oil spill around the massive oil drilling rig that exploded and toppled into the ocean off the Louisiana coast.

Eleven workers are still missing from the Deepwater Horizon rig that sank Thursday about 50 miles from Louisiana’s coast. They are presumed dead.

The bad weather rolled in Friday, bringing with it strong wind, clouds and rain that interrupted efforts to contain the oil spill. Petty Officer Erik Swanson of the Coast Guard said cleanup would resume once the weather cleared.

The cause of Tuesday’s massive blast off the Louisiana coast is unknown. On Friday, Coast Guard officials suspended the three-day search for the missing workers.

An undetermined amount of oil has spilled from the rig, though Swanson said Saturday morning that remotely operated vehicles had not yet detected any leaking oil from the well or rig. However, crews are closely monitoring the rig and well for any more crude that might spill out.

An oil sheen appeared to cover an area about two miles wide and eight miles long Friday afternoon.

BP, which is taking the lead in the cleanup, said it has activated an extensive oil spill response, including the remotely operated vehicles to assess the well and 32 vessels to mop up the spill. The Marine Spill Response Corp., an energy industry cleanup consortium, also brought equipment. …

BP PLC, which leased the Deepwater Horizon, opposes what it says are "extensive prescriptive regulations."

Rough Seas, Thunderstorms Threaten Oil Spill Area

From the Weather Channel: Rough Seas, Thunderstorms Threaten Oil Spill Area

While crews race to contain the Gulf of Mexico oil spill, severe weather and a period of rough seas this weekend will threaten the area as a line of thunderstorms is forecast to move through the region.

Thunderstorms will sweep west to east through the area, bringing thunder, lightning and up to several inches


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Phil's Favorites

Thoughts from the Frontline: Shoot the Dog and Sell the Farm

Thoughts from the Frontline: Shoot the Dog and Sell the Farm

By John Mauldin

“If this were a marriage, the lawyers would be circling.”

The Economist, My Big Fat Greek Divorce, 6/20/2015

Greece is again all the buzz in the media and on the commentary circuit. If you’re like me, you are suffering terminal Greece fatigue. You just want Greece and its creditors to “do something already” rather than continually coming to the end of every week with no resolution, amid finger-pointing and dire warnings from all sides about the End of All Things Europe – maybe even the world.

That frustration is a common human emotion. Perhaps the best and funniest illustration (trust me, it is worth a few minutes&r...



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Zero Hedge

The US Constitution (2015 Edition)

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Presented with no comment...

Source: Townhall.com

...

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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Gross Says Hold Cash, Prepare For "Nightmare Panic Selling" (Zero Hedge)

Ever since bond market liquidty became the topic du jour across Wall Street (just a few short years after it was first raised in these pages), analysts, pundits, and reporters alike have begun to question what might happen should investors who have piled into mutual funds and ETFs (especially fixed income products) suddenly decide to sell into illiquid secondary markets.

China stocks are giving investors a nasty case of whiplash (CNN) ...



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Kimble Charting Solutions

Junk bonds diverging, could send bearish message to stocks!

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

This charts takes a 25-year look at the Pimco High Yield mutual fund. In 1999 & 2007 the fund was diverging against the S&P 500 and once it broke support the fund and broad markets turned weak together.

At this time PHDAX is now testing 4-year support and it has been diverging against S&P for almost a year!

Below looks at the two most popular junk bond ETF’s against the S&P 500

CLICK ON CHART TO ENLARGE

This chart reflects that JNK & HYG are diverging against th...



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Chart School

Greece Strikes Back (or was it China?)

Courtesy of Declan.

A doubly whammy of weakness from Asian and European sessions left bulls with little room to stretch their legs. Not surprisingly, there were few willingly to make a commitment so bears had the market to themselves.  The good news is that today's decisive selling pushes markets out of their stiffing ranges. The S&P dropped below 2080, and is knocking on the door of 2040. Technicals are again net negative. The 200-day MA at 2053, just above the 2040 level, may play a role in tomorrow's action. While the Dow has already indicated a break from the March/July range. ...

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OpTrader

Swing trading portfolio - week of June 29th., 2015

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Digital Currencies

BitGold Now Available in US! Why BitGold?

Courtesy of Mish.

BitGold USA

Effective today, BitGold Announces Platform Launch in the United States.

BitGold, a platform for savings and payments in gold, is pleased to announce the launch of the BitGold platform for residents of the US and US territories. As of today, US residents can sign up on the BitGold platform and buy, sell, or redeem gold using BitGold’s Aurum payment and settlement technology. US residents will also have access to the BitGold mobile app and a prepaid card when these features launch over the coming weeks. Send and receive gold payment features are not initially available in the US.

About BitGold

...



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Sabrient

Sector Detector: Bulls under the gun to muster troops, while bears lie in wait

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of Sabrient Systems and Gradient Analytics

Two weeks ago, bulls seemed ready to push stocks higher as long-standing support reliably kicked in. But with just one full week to go before the Independence Day holiday week arrives, we will see if bulls can muster some reinforcements and make another run at the May highs. Small caps and NASDAQ are already there, but it is questionable whether those segments can drag along the broader market. To be sure, there is plenty of potential fuel floating around in the form of a friendly Fed and abundant global liquidity seeking the safety and strength of US stocks and bonds. While the technical picture has glimmers of strength, summer bears lie in wait.

In this weekly ...



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Pharmboy

Baxter's Spinoff

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).

The Baxalta Spinoff

By Ilene with Trevor of Lowenthal Capital Partners and Paul Price

In its recent filing with the SEC, Baxter provides:

“This information statement is being ...



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Mapping The Market

An update on oil proxies

Courtesy of Jean-Luc Saillard

Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself. 

Since...



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Promotions

Watch the Phil Davis Special on Money Talk on BNN TV!

Kim Parlee interviews Phil on Money Talk. Be sure to watch the replays if you missed the show live on Wednesday night (it was recorded on Monday). As usual, Phil provides an excellent program packed with macro analysis, important lessons and trading ideas. ~ Ilene

 

The replay is now available on BNN's website. For the three part series, click on the links below. 

Part 1 is here (discussing the macro outlook for the markets) Part 2 is here. (discussing our main trading strategies) Part 3 is here. (reviewing our pick of th...

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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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