AI-Bubble -- Markets Crash -- It Appears JPow And The Fed Have The Pain They Were Waiting For -- Now Will The Fed Cut Rates? August 5, 2024

Locator: 48330MARKETCRASH.

JPow: the American idiom "two clever by half" comes to mind, but technically doesn't work. Wow, this blog was right on target -- some weeks ago. Over the weekend:

Blame it on the Bossa Nova: link here.

With regard to price of oil, US recession trumps war in Mideast. WTI down 2%; trading at just under $72.

Look back:

Equity markets crash. That is today's meme. Or, "buying opportunity."

Buffett: brilliant. The Sahm rule.

The Buffett indicator: if the indicator sounded an alarm five days ago, imagine how long and how loud the alarm is today! OMG! Link here. And if the Fed cuts rates, the indicator will only get worse. Buffett indicator here.

There is no recession. Link here.

What will I be following? Will INTC go below $20. It's already down 6.4% in pre-market trading and only eleven cents above the all-important $20-floor.  As a reminder: Intel is too important too fail.

CNBC, first hour, my favorite CNBC hour: I won't see it this morning -- or all week for that matter -- I'll be driving Sophia to her water park camp on Lake Grapevine each day. Whoo-hoo.

Absolutely awash in natural gas: link here. 

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Back to the Bakken

WTI: $71.92.

Monday, August 5, 2024: 16 for the month; 72 for the quarter, 398 for the year
40353, conf, Iron Oil Operating, Stocke 4-4-9H,

Sunday, August 4, 2024: 15 for the month; 71 for the quarter, 397 for the year
40451, conf, Neptune Operating, Frederick LE 3-10 11H,
39512, conf, Liberty Resources, Haley # 158-93-29-32-2MBH,

Saturday, August 3, 2024: 13 for the month; 69 for the quarter, 395 for the year
40450, conf, Neptune Operating Frederick 3-10 6H,
40336, conf, CLR, Dahle 4-35H,
39513, conf, Liberty Resources, Haley E 158-93-29-32-3MBH,

RBN Energy: Diversified Energy Co (yes, that's a thing) plots growth through culling, harvesting mature gas wells.

The term “exploration and production company” has been widely used for only four or five decades, but the activities it represents have a history that dates back to the first oil well drilled by Edwin Drake in Titusville, PA, in 1859. Ever since that world-changing event, discovering and developing new sources of oil and gas has remained the industry’s passion, exemplified by wildcatters and, more recently, by the technological wizards of the Shale Revolution. To this day, every major public upstream company still invests in finding and developing reserves — except one. In today’s RBN blog, we examine the unique approach taken by Diversified Energy Co., which has grown substantially by ignoring the “E” part of E&P.