Posts Tagged ‘gushing oil’

BP Looming Disaster

BP Looming Disaster

Courtesy of Allan 

Let’s start with the Daily Trend Model, but it gets worse according to the article appearing after the chart.

I lifted the following piece off of a trader’s forum this weekend and although I don’t know enough to comment on the veracity of the content, its scary enough to pass along, just in case it’s true.

Lindsey Williams is out with a new interview, over at Alex Jones. He’s claiming the following info about the BP Deepwater Horizon oil leak. He claims the information came from an oil industry executive whom he knew in Alaska when he lived with these people, and worked with them.

http://www.infowars.com/lindsey-williams-talks-with-alex-jones-about-deadly-gases-leaking-from-bp-spill/

I don’t do a lot of Alex Jones. This information is unconfirmed, so we’ll have to see.

Here’s some of the information in summary form.

1) This is not a conspiracy, it’s an accident, and a disaster.

2) The oil is abiotic oil, from deep within the earth. It is not the fossilized remains of long dead life. This oil is produced within the earth, and the earth is full of it. The Russians discovered abiotic oil, and are now the number 1 exporters of oil in the world; but they had the good sense to drill for the stuff on land. Lindsey says the text books on how oil is formed will have to be rewritten. He stated there is no such thing as Peak Oil.

3) The oil is gushing from the well at pressures between 20,000 and 70,000 pounds per square inch. Lindsey indicates the wells in Prudhoe Bay, AK, came in at about 1,500 pounds of pressure. He says 50,000 pounds of pressure is beyond our technical ability to contain. I think this means that it would have blown the safety valve, even if it had not been defective. Lindsey indicated that the oil is gushing out at the rate of about 4 million gallons per day, but that the gent speaking knew he’d be quoted, and Lindsey suggested that you could put the actual figure much higher.

4) There is no hope of stopping the spill short of a nuclear weapon. It will take months to put this device (bomb) in place, as there will have to be an angle well drilled, and the bomb placed in it. I think this


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Simmons Says Obama Should Detonate Nukes to Seal Oil Leak; Obama Suspends Deep Water Drilling Programs; Scientists Locate Another Vast Oil Plume

Simmons Says Obama Should Detonate Nukes to Seal Oil Leak; Obama Suspends Deep Water Drilling Programs; Scientists Locate Another Vast Oil Plume

Courtesy of Mish

BP uses Top Kill method to try to stop oil leak in the Gulf of Mexico

News in the gulf regarding BP’s oil leak is grim. The "Top Kill" plan has reportedly failed although BP says it will continue efforts.

Worse yet, Matt Simmons says "Top Kill" is a sideshow, misses the big problem, and we might need nukes to seal the leak.

Let’s take a look at those stories starting with BP Engineers Making Little Headway on Leaking Well.

BP engineers struggled Friday to plug a gushing oil well a mile under the sea, but as of late in the day they had made little headway in stemming the flow.

Amid mixed messages about problems and progress, the effort — called a “top kill” — continued for a third day, with engineers describing a painstaking process of trying to plug the hole, using different weights of mud and sizes of debris like golf balls and tires, and then watching and waiting. They cannot use brute force because they risk making the leak worse if they damage the pipes leading down to the well.

Despite an apparent lack of progress, officials said they would continue with the process for another 48 hours, into Sunday, before giving up and considering other options, including another containment dome to try to capture the oil.

Deep Water Drilling Grinds to Halt

Bloomberg reports Oil Industry Faces Its ‘1,000-Year Flood’ as Drilling Is Halted

“The spill is like the 1,000-year flood: it’s the worst- case scenario,” said Brian Youngberg, an analyst with Edward Jones in St. Louis. “It’s hard to prepare for those extreme situations like that.”

Obama dropped plans to open waters off the coast of Virginia to drilling, canceled a lease sale in the Gulf, and suspended the permitting process for Royal Dutch Shell Plc’s planned wells off of Arctic Alaska. He said new safety rules will be imposed on offshore drilling.

U.S. oil output may be cut by 160,000 barrels a day next year as a result of the ban, according to Deutsche Bank AG. A one-year delay to deep-water projects would reduce global supplies by 500,000 barrels a day between 2013 and 2017, Sanford C. Bernstein said.

Shell has five wells affected by Obama’s call to halt drilling at 33 exploratory locations. Eni SpA, based in Rome, and


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Phil's Favorites

Why tech giants have little to lose (and lots to win) from new EU copyright law

 

Why tech giants have little to lose (and lots to win) from new EU copyright law

Copyright, and copyright laws, will not always match expectations. inkninja, CC BY

Courtesy of Maurizio Borghi, Bournemouth University

The new European Union Copyright Directive, passed recently by the European parliament after a ...



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Kimble Charting Solutions

King Dollar Created Multi-Year Topping Pattern?

Courtesy of Chris Kimble.

The currency markets often play a role in asset management for investors. And one key asset that pays close attention to the US Dollar is Gold (and precious metals). Could a near-term trend change be in store for the US Dollar… and its counterpart, the Euro? Precious metals bulls would love to see the US Dollar topping and the Euro bottoming.

In the chart below, you can see that the two currencies are showing similar reversal patterns – a traditional head and shoulders top for the US Dollar Index and an inverted head and shoulders bottom for the Euro.

BUT, they need to confirm these pattern by breaking down / up.

It’s worth noting that NOTHING has been proved so far, but the potential of both creating longer-term reversal patterns is there and traders should stay tuned.

US D...



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Zero Hedge

Italy's 5 Star Threatens To Ditch Coalition Over Budget Talks, Italian Bonds Slide

Courtesy of ZeroHedge. View original post here.

While the market turmoil over Italy's budget has quieted down in recent weeks as a result of soothing words by the ruling coalition that it would comply with European demands, that snapped moments ago when DPA reported that the leader of Italy's Five Star Movement has threatened to pull the plug on the country's populist government if it cannot find money to implement election campaign promises.

"If we do not find the resources to do what we have said, then it is better for us to go home, there is no point in...



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ValueWalk

How Soon Will A.I. Replace All The Traders: Q&A With Gaurav Chakravorty, CIO Of Qplum

By Jacob Wolinsky. Originally published at ValueWalk.

VW: Tell our readers, what is Qplum?

Qplum is an AI-driven investment management firm. We manage money for individuals, families, and institutions. We actively manage investments using machine learning and deep learning technology.

Our three product lines are:

  1. Wealth, servicing the financial needs of individuals and families via separately managed accounts.
  2. Alpha, for institutional clients only, where we offer different products like GTAA (Global Tactical Asset Allocation), managed futures program, etc. and
  3. Solutions, where we work on customized tactical asset allocation solutions for pension funds and family offices to target a dual loss-aversion and return-seeking investment mandate.

[REITs]

...

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Insider Scoop

Morgan Stanley Bullish On Amazon's New Automated Stores

Courtesy of Benzinga.

Related AMZN Stitch Fix Falls After Piper Jaffray Downgrade; Analyst Says 'Smallest Hint Of Pressure' Could Threaten Valuation ...

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Digital Currencies

Mania to Mania

 

Mania to Mania

Courtesy of 

“Russell rarely played the stock market and had little investing experience when he put around $120,000 into bitcoin in November 2017.”

This comes from a CNN money article, Bitcoin crash: This man lost his savings when cryptocurrencies plunged. From January 2017 through the peak in early 2018, Ethereum gained 16,915%.

Any time you have something go vertical, you just know that some peopl...



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Chart School

Weekly Market Recap Sep 16, 2018

Courtesy of Blain.

Slow and steady drip up all this past week in a very quiet news environment.  A gap down top open the day Tuesday (which was recovered quickly) and a gap up Thursday (which held) were the highlights!

The latest on TRADE WARS!(tm):

Tuesday, news hit that China vowed to retaliate and plans to ask the World Trade Organization next week for permission to impose sanctions on the U.S. for Washington’s noncompliance with a ruling in a dispute over U.S. dumping duties, Reuters reported. That’s part of a dispute that goes back to 2013.

“Trade wars are certainly a concern, but I don’t know that they’re a one...



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Members' Corner

Nike, Colin Kaepernick and the pitfalls of 'woke' corporate branding

 

Adding this article to Members Corner, in case anyone wants to share their opinions on Nike and Kaep, or on divisiveness in general. Also see "A Warning From Europe: The Worst Is Yet to Come" and "What’s behind the current wave of ‘corporate activism’?" ~ Ilene

Nike, Colin Kaepernick and the pitfalls of 'woke' corporate branding

Courtesy of Simon Chadwick, University of Salford and ...



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Biotech

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

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

 

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

Breast cancer type 1 (BRCA1) is a human tumor suppressor gene, found in all humans. Its protein, also called by the synonym BRCA1, is responsible for repairing DNA. ibreakstock/Shutterstock.com

By Jay Shendure, University of Washington; Greg Findlay, ...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

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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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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All About Trends

Mid-Day Update

Reminder: Harlan 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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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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