Locator: 48011INV.
Updates
May 31, 2024: today was the best day of the year for the Dow. Holy Mackerel!
May 31, 2024: wow, what a day!
Original Post
Looks like sector rotation. If you sold (in May) yesterday and went away, you missed out on a huge market today -- assuming you sold and put everything in cash. What a crazy market. Dow closes up 600 points in afternoon trading.
BRK must have had an incredible day. Let's check: BRK -- yeah, up 1.42%.
The only thing that could explain things -- BIG OIL must have had a huge day. Wow.
Curious?
What did WTI do? Holy mackerel -- I just tuned into CNBC at the close -- Dow closes up nearly 600 points. What a great day to be fully invested.
Look at MRO: up 13%.
The laggards: none of which interest me.
DIS was not mentioned. What did DIS do? Up 2%.
Chevron up 3%.
This is simply amazing. Friday afternoon. We talked about his earlier ...
CAT down 3%.
Comcast up 4%. WBD up 8%.
Big Oil had a big day but not due to jump in oil price. WTI was actually down and trending toward $77.
I don't know what happened -- the talking heads certainly can't explain it.
Month of May was incredibly good for tech (think Nvidia) and AAPL up 12% in the month of May. Even today, AAPL went up another dollar.
Wow. Enough of this.
Mike Santoli: lots of talk but no aha! From one of the best analysts.
Fast Money: later today, in about 45 minutes. It will be interesting to hear what the "Debbie downers" have to say. I assume a lot of prudent-signaling. I quit watching them some time ago -- they were simply too negative. At best, always prudent-signaling. My hunch: they will blow off the 600-blow-out as simply a one-off.
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ETSC
Is anyone / everyone paying attention? Note: this is just one "tiny" sector of the US economy -- data centers.
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Back to the Bakken
WTI: $77.23.
Active rigs: 36.
Eight new permits, #40796 - #40803, inclusive:
- Operators: Grayson Mill (2), Slawson, Silver Hill Energy Operating (3), WPX (2).
- Fields: Haystack Butte (Dunn); Bully (McKenzie); Gros Ventre (Burke); Heart Butte (Dunn)
- Comments:
- Silver Hill has permits for three wells: two Holmen E wells and one Oliver E well; NWNE 20-159-93,
- to be sited 497 FNL and at 2037, 1967, and 2002 FEL;
- Grayson Mill has permits for two Bice wells, lot 4 and lot 3, section 18-148-97;
- one to be sited 903 FSL and 572 FWL; and,
- one to be sited 2140 FSL and 325 FWL;
- WPX has permits for a Two Shields Butte well and a High Hawk well, both in NWNW 10-149-92;
- the TSB to be sited 281 FNL and 841 FWL; and,
- the HH well to be sited 308 FNL and 827 FWL;
- Slawson has a permit for a Daredevil Federal well, lot 3, secton 2-148-100,
- to be sited 300 FNL and 2250 FWL.
One permit canceled.
- 38228, WPX, Two Shields Butte, Heart Butte.
- the Two Shields Butte wells are tracked here.
