Notes From All Over, Part 6 -- October 28, 2019

AYKM: Miami (0-6) vs Pittsburgh Steelers (2-4) tonight? MNF?  

Abu Bakr Baghdadi: this is simply another win for the president.

For a disorganized, chaotic White House, it is amazing all the things the president has accomplished, and all agree this is the most harassed president in modern times. LBJ and Jimmy Carter were driven from office, but I don't think anyone would say they were more harassed than Trump. I'm also impressed that there were no leaks. Other dots to connect make this whole Baghdadi operation even more interesting. So much could be written but we will leave it there. By the way: quick! Name the six general officers and four civilian bureaucrats taking credit for this operation. To be truthful, I can't even name the SecDef, much less the Chairman of the Joint Chiefs of Staff. And now that John Bolton is gone, I can't even name the national security advisor. Special Ops commander? Who was piloting the lead helicopter? What was the name of the injured dog? Why did the president mention the "dog" and not the "canine"?

Geico Rock Award: Regular readers know that I announce an annual Geico Rock Award. I do not have a similar award for those financial analysts or writers whose assessments are affected by Trump Derangement Syndrome (see Brian Sozzi below). I don't plan on adding a new award category but it sure is tempting. 

For newbies: I've just linked this August 3, 2019, post at the sidebar at the right as a highlight post. Right, wrong, or indifferent, it's a great post. Even if I say so myself. LOL.

Market: huge day. S&P 500 hit an intra-day all-time record; closes aat an all-time record.

For the first time ever, companies missing EPS are surging by the most on record -- zerohedge. It's called "easy money." I've talked about this often. Yahoo!Finance business writer, Brian Sozzi, still doesn't get it; also, suffers from TDS; Brian needs to read this CNBC note to get back up to speed; strong earnings, progress on trade deals; Fed meeting tomorrow; for the market, it's all timing, timing, timing; for the real estate market, it's all location, location, location.

After-hours, did they hold?

• AAPL; holds; up 9 cents
• EW: doesn't hold; up 4% at the close; down 1.4% after hours;
• T: up 4.3% at the close; flat after the close
• AMZN: up $16 today (about a percent); down less than $2 after hours;
• FB: up during the day; up after hours
• GOOG: up $25 during the day; down $15 after hours
• NFLIX: up $5 at the close; down 30 cents after hours

Boeing: increasing doubts that 737 MAX will ever fly. Right now, it seems, analysts only focused on cost to Boeing of delayed re-introduction. At some point, the lawsuits from airlines begin. Can Boeing declare a force majeure? 

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Must-read article: electricity, coal, natural gas, and the internet. A must-read. I would like to see the amount of "internet-electricity" compared with "bitcoin-electricity." Bitcoin mining uses huge amount of electricity.

Clearing out my in-box:

• JP Morgan prepares for next recession by shifting jobs from NYC to Texas; link here; comments later;
• Permian pipeline -- EPIC Crude Oil Pipeline -- launches another open season -- Rigzone -- dated October 28, 2019 -- I don't know if this is old news / previously reported / new news; things happening so fast; will come back to it later; 
• Another pipeline -- Enterprise -- EPD -- third Midland-to-ECHO oil expansion by 3Q20; again, can't keep up; old news / previously reported / new news? I don't know; I will come back to this later;
• Christmas stocking stuffer: $249 Apple AirPods Pro; can you imagine the margins on these? earlier I said I would not be getting a pair; re-thinking this;
• the Khashoggi overhang; The WSJ; 

EIA's driling productivity report: link here. Portions previously posted.

• DUCs:

• New well oil production:

• Bakken: 1,500 bopd
• Permian: 800 bopd