Whenever the market gets a bit too "funky" or "frustrating" for my tastes, I will quit following the market completely, quit watching CNBC completely, won't even check my Schwab account. I go completely "off the financial grid" as it were. I religiously keep investing every first and third week of each month but I don't pay attention to the price of the shares I'm buying. I just stick to the plan, but I don't follow the market.
For the past two weeks, perhaps slightly less, I forget, I haven't been paying attention to the market.
So, tonight, bored to death, as they say, with no news worth following -- except to think again about the individual who won the Grammy for "song of the year" but I digress.
So, bored to death, as they say, scrolling through my twitter feed for the umpteenth time, this popped up:
So, let's take a look:
Well, that got my attention. Let's go through the list, at the close today:
- XOM: up $3.20; up 2.86%
- CVX: up $4.47; up 2.64%
- COP: up $4.54; up 4.22%
- OXY: up $3.05; up 4.96%
- TTE: up $1.53; up 2.54%;
- EOG: up $3.86; up 3.20%
- HES: up $5.96; up 4.34%
- PXD: up $7.55; up 3.46%
- DVN: up $2.08; up 3.46%;
- CHRD: up $3.42; up 2.47%
- CRC: up $1.41; up 3.52%
- NOG: up $2.21; up 7.08%
- KMI: up 11 cents; up 0.63%
- OKE: up 88 cents; up 1.28%
- WMB: up 42 cents; up 1.31%
- MPC: up $5.76; up 4.95%
- VLO: up $6.48; up 5.06%
- PSX: up $4.19; p 4.27%;
- EPD: flat today;
- ENB: up 25 cents; up 0.62%
- SRE: down 55 cents; down 0.35%
- SLB: up 80 cents; up 1.51%
- RIG: up 42 cents up 6.12%
For the complete list, click here.
Several random, unrelated comments:
- first, I didn't look at today's API numbers; I seldom do; it's the EIA numbers that most analysts seem to take more seriously and they come out tomorrow;
- second, my first thought went back to this post -- I think analysts finally figured this out, and came to the same conclusion I came to (by the way, I never posted that conclusion -- I thought it so obvious, I didn't have to actually "say it");
- third, and this might be most important: this "breakout" all happened before the SOTU was given when it was said that President Biden went off-script and "admitted" / acknowledged that the world would still need oil for at least another ten years (translation: global oil demand will continue to increase over the foreseeable future, i.e., more than ten years, and the increase in demand may last even longer than that);
- fourth, how big a factor were the comments made by the CEO of BP actually responsible for this "breakout"?
- fifth: a reminder that ESG is dead; and, that renewable energy is not making their investors any money;
- sixth: for all intents and purposes, WTI was flat, up maybe 0.4% at most.
Miscellaneous:
- RIG: link here. This, in various forms, came up numerous times on my twitter feed. Either someone is "pumping" this stock, or there's something on. In a good way.
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