Notes From All Over, Part 3 -- December 16, 2019

Stock to watch today: Boeing. Not because it's "Boeing," but because the effect it will on the Dow. Boeing is down 3% today; down over $10. And yet the Dow is currently almost up 200 points, 9:50 a.m. CT, Deember 16, 2019. How much does Boeing affect the Dow?

To calculate the “industrial average,” Dow Jones takes the share price of these companies, adds them up, and then divides them by a number called the Dow Divisor. This number—which changes over time—is designed to be easily adjusted to factor any major structural changes to the 30 listed companies. At the moment, it’s 0.14748071991788.Boeing has an outsized influence on the Dow, with a percentage weighting of over 11%.

I can't do the math, but my hunch is that the Dow would be up nearly 300 points if Boeing were up like the rest.

By the way, the Boeing story may be the story of 2020. They say the flapping of a butterfly's wings in Africa sets off a hurricane in the Gulf of Mexico (chaos theory); if so, one can imagine the Boeing story resulting in a Biden win. Just saying. Start connecting the dots.

WTI: holds above $60.

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Featured Blogs At The Sidebar At The Right

Focus on fracking:

• November, 2019, oil shortage at 1.17 million bopd;
• January, 2020, natural gas hits another all-time low;
• best observation, captured by no one except this site -- 
• to account for that disparity between the apparent supply of oil and the apparent disposition of it, the EIA inserted a (+399,000) barrel per day figure onto line 13 of the weekly U.S. Petroleum Balance Sheet to make the reported data for the daily supply of oil and the consumption of it balance out, essentially a fudge factor that they label in their footnotes as "unaccounted for crude oil", thus suggesting an error or errors of that magnitude in the oil supply & demand figures we just transcribed

Intellectual froglegs: three years of fake news -- the official list.

Bjorn Lomborg: Paris climate accord promises will reduce global temperature by 0.05° in 2100;

St Greta of Thunburg: says the train was crowded; press catches her railing back in first class.

By the way, internal polling suggests that TheMillionDollarWay has the best list of "featured blogs" of any Bakken blog.