Fear Of Heights -- Time For This Market To Slow Down -- Notes From All Over, Part 2 -- November 5, 2019

Re-posting:

Oil: OPEC's world oil outlook -- OPEC's market share will shrink for years amid a flood of US shale supplies; link at Bloomberg; says decline for OPEC oil will slide about 7% over the next four years (through 2024).

The most interesting "thing" about that article: the word "flood." In other news reports, such as The [London] Financial Times, it was "swamps." And then folks wonder why the globalists are supporting Pocahontas who will ban fracking. 

Disclaimer: this is not an investment site.  Do not make any investment, financial, career, travel, job, or relationship decisions based on what you read here or think you may have read here.

Market: early morning trading -- all major indices hit new all-time intra-day records.

Move east, young man: Californians moving to Texas. From Zerohedge:

Former Californians Richard and Judy Stark had no regrets as they left their Modesto home, towing a U-Haul trailer with their Volkswagen SUV 1,300 miles to Amarillo, Texas. After finding the website Conservative Move, the Starks put their home up for sale around six months ago and bought a newly constructed three-bedroom home in the suburb of McKinney for around $300,000. According to Stark, a similar home in California would cost around twice as much.

Texas: I would not have posted the story above -- the story is well known -- no new news -- but what caught my attention -- the specific location in Texas. McKinney. Fastest growing city in the US? If not, among the top three. The other two would be in Texas, also. Plano and Frisco. They all line-up like a stand-up drilling unit in the Bakken -- all north of Dallas -- walking distance to DFW airport. Truly amazing.

Tea leaves: the tea leaves suggest 2020 will be the do-or-die year for almost all oil companies --
they are all coming off a terrible 2019

• they started cutting costs in 2019; results will be seen in 2020
• huge spending in Permian acquisitions some years ago, need to start paying off by 2020 -- that's plenty of time
• bellwether? OXY
• US company with most at risk: XOM (see disclaimer above)

OXY: did it hold overnight? Let's check -- mixed -- it was up about $4.50 yesterday on a $44 stock; today it's down 1.42%; down about 63 cents. Overall I would say that's good news for the CEO.

BRK: for the past couple of weeks or so, Warren Buffett has been getting a lot of grief for poor investing. I suppose a lot of folks sold. Today, who wudda thought, on a relatively mixed day, BRK-B is up 1.56%, up $3.41, now trading over $221/share. 

On my radar scope: OXY, ABBV, IMUX. See disclaimer above.

Politics:

• ten reasons why a former Democrat likes Trump

Politics:

• Beto dropped out after, "Hell, yes, we're gonna take your guns." 
• Did Pocahontas make the same mistake with, "Hell, yes, we're going to take away your private health insurance"?
• politics tracked here, FWIW, but it sure is fascinating 

Predictable as the day is long:

• Fox News interviewer: "Did you really say you would take away private health insurance?"
• Pocahontas: "Well, here's the deal ...."
• won't play in Peoria 

Trump, health care promises to:

• protect those with pre-existing conditions
• protect those with pre-existing physicians