Posts Tagged ‘oil gusher’

What If He’s Right?

What If He’s Right?

Courtesy of James Howard Kunstler 

       Just when America was celebrating the provisional end of BP’s Macondo oil blowout, and getting back to important issues like Kim Kardashian’s body-suit collection, along comes Matthew Simmons with a rather strange and alarming outcry on doings in the Gulf of Mexico that contradicts the mood of renewed festivity, as well as just about every shred of reportage from any media outlet, mainstream or otherwise.

     Matt Simmons Houston-based company has been the leading investment bank to the US oil industry for a long time, financing exploration and drilling in places like the Gulf of Mexico. Simmons, 68, recently retired from day-to-day management of the company. For much of the decade he has been what may be described as a peak oil activist. His 2005 book, Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, warned the public that Saudi Arabia’s oil production had reached its limits and, more generally, that an oil-dependent world was entering a zone of serious trouble over its primary resource. He took this aggressive stance despite risking the ire of the people he did business with. 

        Matt Simmons is a sober individual and a very nice man (I’ve met him twice over the years), a button-downed corporate executive who’s been around the oil business for forty years. His knowledge is deep and comprehensive.  From the beginning of the BP Macondo blowout incident in April, he’s taken the far out position that the well-bore is fatally compromised and that BP has been consistently lying about their operations to stop the flow of oil. Perhaps most radically, Simmons claims that an oil "gusher" is pouring into the Gulf some distance from the drilling site itself.

       Last week, Simmons came on Dylan Ratigan’s MSNBC financial show, but he did a longer interview over at the King World News website. (click here for ERIC KING’S INTERVIEW WITH SIMMONS). Simmons’s current warning about the situation focuses on the gigantic "lake" of crude oil that is pooling under great pressure 4000 to 5000 feet down in the "basement" of the Gulf’s waters.  More particularly, he is concerned that a tropical storm will bring this oil up – as tropical storms and hurricanes usually do with deeper cold water – and with it clouds of methane gas that…
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No, the Oil Gusher has NOT Been Stopped Yet … But There is Still Very Good News

Courtesy of George Washington writing at Zero Hedge

Washington’s Blog

Contrary to widespread reports that the oil gusher has been stopped, the live feed below from ROV 2′s BSkandi camera shows that it is still gushing out of the pipe which has been connected to the new containment cap:

     
     
BSkandi – ROV 2 (456854) bkup=45684

It is still very encouraging that the cap seems to be working so far, and – if the system of pipes, cap and well can handle the pressure – BP should be able to connect the pipe all the way up to the collection vessel at the surface.

Updates as they arise …

Note: BP just switched the camera around, so you can no longer see oil gushing out of the pipe.  I’m not sure when they’ll swivel back so we can see…


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BP’s Attempt At LMRP Installation In Process

Courtesy of Tyler Durden

BP has commenced its attempt at installing the LMRP. If past experience is any indication, this last chance to capture the flow will also be unsuccessful. One can be sure, however, that many in the White House are watching and praying , knowing full well that if oil continues gushing into the open ocean through August, the administration’s popularity rating may be the next thing used to plug the gusher at the ocean bottom. In addition to the embedded camera angle below, this link provides access to a second live cam that is focusing on the actual LMRP, and the direct BP camera feed can be seen here. A last fallback is the live CNN feed which seems to always work.

Watch live streaming video from wkrg_oil_spill at livestream.com

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Zero Hedge

Bob Shiller Fears "Substantial Decline" Sees Dow 'Fair Value' Around 11,000

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

"This is a dangerous time," warns Nobel laureate Bob Schiller as he warns of the false signal that typical P/E ratios are misleading and in fact his CAPE ratio (looking through the cycle) implies "fair value" for The Dow should trade around 11,000 and around 1300 for the S&P 500. "There is a risk of a substantial decline," he adds, warning that the recent rebound "maybe someone's good will effort to stabilize the market," and in fact the market's valuation is high now and people are over-exposed.

Schiller unleashes some inconvenient truths on CNBC...

...

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Kimble Charting Solutions

Change investment allocations due to .2% of a move?

Courtesy of Chris Kimble.

Can you believe that its a really big deal to some if an index is down 9.9% from it highs (non correction territory) or if its down 10.1% (correction territory).  Does .2% constitute that we make a different allocation decision? Are you kidding me?

Do you find yourself agreeing more with the person on the left or right? I am in the camp with Lou on the right. Should we make investment decisions based upon a term (correction)? Not me

CLICK ON CHART TO ENLARGE

This chart looks at the Dow since 2010 ...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

In Parched California, a Farmers Market Is Emerging for Power (Bloomberg)

Californias record drought may be a boon to power companies.

Millennial investors are buying in volatile market (CNN)

The wild stock market gyrations may have scared many investors. But not the twenty-something newbies.

If anything, the young investors are doubling down, opening new accounts and buying stocks.

...

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Phil's Favorites

Interest Rates and Bond Yields: Where are They Headed? September Hike Ideal? Is the Bond Bull Market Over?

Courtesy of Mish.

With all the chatter about whether the Fed will hike on September 17 or not, let's do an interest rate and bond yield recap of where various rates are, where they have been, and where they are likely headed.

Effective Federal Funds Rate



As of yesterday, the effective federal funds rate was a mere 8 basis points. Since April, it has been swinging from a low of 6-8 basis points to a high of 14-15 basis points.

I suspect the odds of a hike are close to 50-50.

The CME Fed Watch has the hike odds at 27% as of September 2. However, the CME does not consider a move to 0.25% a hike....



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Chart School

Gann Angle Apple Inc Review

Courtesy of Read the Ticker.

Time to review Apple Inc with the Gann Angle.

Gann Angles may work best on either daily trading days, daily calendar days, or weekly. All should be considered.

In the chart below Apple Inc works very well. Gann Angles with Fibonacci arc forecasts do work well together.

Any bounce of Apple Inc into previous resistance should be considered as a possible short. Watching and waiting.



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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

.."Tape reading was an...



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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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Insider Scoop

Look Beyond Q3 For This Digital Marketing Leader

Courtesy of Benzinga.

Related ADBE Benzinga's Top Upgrades Baird: Now's The Time To Buy Adobe The Vetr community has upgraded $ADBE to 4.5-Stars. (Vetr)
  • Shares of Adobe Systems Incorporated (NASDAQ: ADBE) have risen over 5 percent year-to-date.
  • Oppenheimer’s Brian Schwartz has initiated coverage of Adobe Systems with a Perform rating.
  • While expr...


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OpTrader

Swing trading portfolio - week of August 31st, 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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Sabrient

Sector Detector: Finally, market capitulation gives bulls a real test of conviction, plus perhaps a buying opportunity

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

Courtesy of Sabrient Systems and Gradient Analytics

The dark veil around China is creating a little too much uncertainty for investors, with the usual fear mongers piling on and sending the vast buy-the-dip crowd running for the sidelines until the smoke clears. Furthermore, Sabrient’s fundamentals-based SectorCast rankings have been flashing near-term defensive signals. The end result is a long overdue capitulation event that has left no market segment unscathed in its mass carnage. The historically long technical consolidation finally came to the point of having to break one way or the other, and it decided to break hard to the downside, actually testing the lows from last ...



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ValueWalk

Some Hedge Funds "Hedged" During Stock Market Sell Off, Others Not As Risk Focused

By Mark Melin. Originally published at ValueWalk.

With the VIX index jumping 120 percent on a weekly basis, the most in its history, and with the index measuring volatility or "fear" up near 47 percent on the day, one might think professional investors might be concerned. While the sell off did surprise some, certain hedge fund managers have started to dip their toes in the water to buy stocks they have on their accumulation list, while other algorithmic strategies are actually prospering in this volatile but generally consistently trending market.

Stock market sell off surprises some while others were prepared and are hedged prospering

While so...



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Digital Currencies

Bitcoin Battered After "Governance Coup"

Courtesy of ZeroHedge. View original post here.

Naysyers are warning that the recent plunge in Bitcoin prices - from almost $318 at its peak during the Greek crisis, to $221 yesterday - is due to growing power struggle over the future of the cryptocurrency that is dividing its lead developers. On Saturday, a rival version of the current software was released by two bitcoin big guns. As Reuters reports, Bitcoin XT would increase the block size to 8 megabytes enabling more transactions to be processed every second. Those who oppose Bitcoin XT say the bigger block size jeopardizes the vision of a decentralized payments system that bitcoin is built on with some believing ...



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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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About Phil:

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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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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