S&P 500 hits another record. Whoo-hoo!
Tesla: hits $1 trillion valuation. That 100,000-vehicle deal with Hertz is ... staggering. Eighteen years to hit $1 trillion. Simply incredible. That is a record for how fast a company hit $1 trillion market value. Amazon took 21 years; Apple took 42 years. Another winner? Cathy Wood and ARKK. It's amazing how many "pros" lost money on this stock (TSLA) due to emotion. Why is TSLA here, at this price?
- Elon Musk can raise prices and still sell every car coming off the assembly line;
- charging infrastructure keeps getting better and better; just wait until the infrastructure bill is passed;
- when you hit $1 trillion market, there's no looking back
Apple TV vs Amazon Fire Stick: link here. I might talk about this later. But Amazon Fire Stick is the winner. Period. Dot.
UNP: top shelf. Hits a new record. Wow.
WTI: not only did WTI drop below $85, it dropped below $84.
It's important to remember the new "US crude oil contract" introduced this past summer.
Right now there is a lot of press about the empty storage tanks at Cushing. What most of those articles fail to mention is the new Midland WTI American Gulf Coast contract (ICE: HOU) established by Magellan, Enterprise and ICE. Source/Hart Energy.
This is way beyond my headlights, but for the sake of discussion one wonders if Magellan and Enterprise are exporting as much oil as they possibly can every day, oil that would otherwise be going to Cushing to be stored.
I don't know. But something is going on and my hunch is that within the year, by mid-2022, we'll start to get a better analysis in the mainstream press of exactly where all the US crude oil is going and where it's stored. If Cushing is as empty as these reports suggest, WTI should be a lot higher than $85. Anyway, there seems we need an explanation why WTI is only $85 when "Cushing" is running on empty.
I could be way wrong on this. Just idle rambling.