Tuesday, July 30, 2024

WTI Drops Below $75 -- July 30, 2024

Locator: 48266B.

Market: unless you've been adding to your technology position in the past six months, today's market action is absolutely awesome. What a huge buying opportunity. Things are starting to shake out. Things are starting to make sense.  

Most surprising: BRK-B. 

Copper: one of the most interesting stories right now?

Lessons learned: "we're" in the process of providing a "personal financial planning" for the two older granddaughters. Big, big change: no longer do I call it "retirement planning." I call it "financial independence (by age 57)."

Lessons learned: everyday I "study/review" math, vocabulary, and a multitude of other subjects with Sophia, age 10, going into fifth grade. My lessons learned:

  • vocabulary: important, important, important -- we will move through the fifth grade workbook quickly and begin the sixth grade workbook within the next month or so;
  • math: word problems. Sophia has to set up the word problems on her own. The current word problems are multiplying 3-digit and 4-digit numbers. She knows how to multiply 3-digit and 4-digit numbers. Now, it's just busy work. In the future, she won't be multiplying large figures by hand. She will use her mobile device. More importantly, she needs to set up the problems and move on. If she needs a multiple-guess answer, rounding / estimations will generally work.
  • writing: she keeps a journal; no ChatGPT
  • conversions: time (seconds, minutes, hours, days, months, years); baking (teaspoons, cups); commodities (gallons, barrels); distance / time; etc.
  • 15-minute binder with dozens of subjects; more on this later.

AMD: one word. Wow! Folks might remember my thoughts on AMD about a year ago. Relative to Nvidia. After the earnings call, after-hours, AMD is up over $9 / share.


Intel:

Intel: this happened in the first month of the third quarter; damage will continue through the second month of the third quarter; we will see results 3Q24 and perhaps 4Q24 and perhaps full year 2024. This has the potential of being a bigger story than the CrowdStrike / Microsoft story. CrowdStrike after recovering a bit from the debacle, fell $25 today! Wow! Cathie Wood bought a huge position in CrowdStrike the day after the original sell off, immediately after the debacle. It looked like a great bet. It looks like she could have waited.

So, who makes chips that directly compete with Intel? AMD was one of the few tech companies that did well today after reporting earnings.

Nvidia: the "pain" has not quit. The stock price will continue to fall. -- Cramer. But Cramer has an interesting take on this. I agree.  NVDA is up 121% from one full year.

Texas oil, a nice problem to have. Link here. In fifty years of following the oil industry, I've never seen this headline in this context. Wow.

In our backyard: The Thirsty Lion is our favorite restaurant -- but we seldom go any more. Eating out has simply become way too expensive. 

****************************
Back to the Bakken

WTI: $74.73.

Active rigs: 39.

Five new permits, #40978 - #40982, inclusive:

  • Operator: Hess
  • Field: Sorkness (Mountrail)
  • Comments:
    • Hess has permits for five EN-Starla permits, SESW 9-157-93; 
      • to be sited between 594 FWL and 571 FSL and between 2028 FWL and 2192 FWL;
      • these four EN-Starla permits will be added to the existing EN-Starla well already on the pad
      • 40399, conf/loc, Hess, EN-Starla-157-93-0904H-4, Sorkness, t--; cum --;

Four permits canceled:

  • Whiting: two permits in McKenzie County; two in Mountrail County; remember: Whiting is now part of Chord (Oasis - Whiting -Enerplus): permits for Wold, Green, Jeffery, Gayne.

One producing well (a DUC) reported as completed:

  • 29708, 2,440, CLR, Cuskelly FIU 8-7HSL, Dunn County
****************
Disclaimer Briefly
Reminder
  • I am inappropriately exuberant about the US economy and the US market, 
  • I am also inappropriately exuberant about all things Apple. 
  • See disclaimer. This is not an investment site. 
  • Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
  • Reminder: I am inappropriately exuberant about the US economy and the US market, 
  • I am also inappropriately exuberant about all things Apple.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.