Elon Musk Make's Starlink Available For Free -- Immediately -- For All Affected By Hurrican Helene -- October 3, 2024

Locator: 48483TECH.

Tag: Starlink Nvidia NVDA

I think this is amazing on so many levels, but mostly because it's being done by a private citizen and not by the US government. This is truly amazing. 

Link here.

Meanwhile, Nvidia, link here:

 Ticker, one month, one year, max:

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Futures

With port strike on temporary "hold," what do futures look like?

Futures, NVDA:

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Absolutely Fascinating

Jobs report, September, forecast:

 

Right now, the Fed is only looking at the jobs numbers. 

So, if jobs come in significantly worse, Fed on course to continue cutting rates.

If jobs come in significantly better, suggesting economy much better than expected, Fed could delay the next small cut already baked in. Unlikely.  The numbers would have to be incredibly “good” for the Fed to even think about any delay in a small cut.

**********************************
Disclaimer
Brief 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. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
  

  ********************
  No Mention Of EVs 

  Link here. 

  For the archives ... bigger, gas-guzzling SUVs. No mention of EVs.

  For the archives. I don't have a dog in this fight. But it certainly suggests the Big Three are confident EV mandates will be delayed. Or the pivot to even larger gas-guzzling EVs is an existential issue. 

  

What A Doofus! October 3, 2024

Locator: 48482BANKERS.

Link here.

Jamie Dimon telegraphed the same message at that time and continues to warn investors about the risks of investing in the US market. We've talked about this before. The CNBC folks have finally spoken to this.

Jamie Dimon and folks like Hartnett: it gets tedious.

Hartnett is still ambivalent at best; bearish at worst. Link here.

***********************
The Book Page

Henry V: The Astonishing Triumph of England's Greatest Warrior King, Dan Jones, c. 2024.

Wow, wow, wow! I doubt I will read this book -- I don't know -- I'm tempted -- I've read so many books on British history, particularly the period surrounding the Wars of Roses. But, as noted, I'm really tempted. 

We'll see.

From the linked article:

It is surely an exhausting, perhaps bewildering, time for Henry (the future Henry V) and his brothers. Henry is still only thirteen. Thomas is twelve, John ten, and Humphrey has just turned nine. It has been only one year since their father was exiled, their lives upended, and their futures thrown into uncertainty. Now their father (Henry IV) is the king, and they are knights and princes: the nucleus of a new Lancastrian royal family. Nothing like this has happened in England since the Norman Conquest of 1066.

Ford's Former CEO Says Ford Needs To Compete With China On Price -- October 3, 2024

Locator: 48481EVS.

I can't make this stuff up.

Link here. 

Here in the states, we're going the wrong direction.

From the linked article:

Tesla is no longer selling the sub-$40,000 rear-wheel drive Standard Range version of the Model 3 that has been in the company’s lineup since 2023.

The most affordable trim is now the Model 3 RWD Long Range that starts at $42,490.

The change was first pointed out by Electrek and comes as Tesla announces a year-over-year increase of vehicle deliveries in its third quarter of 2024.

Tesla has slashed — and raised — prices numerous times over the past few years as it struggles to retain its pole position in the market. But an increasing number of customers have strayed to other vehicle brands, leaving Elon Musk’s company grappling with year-over-year sales decreases.

Tesla also occasionally discontinues certain trims, often without notice or fanfare. Earlier this year, the company stopped offering the $60,990 RWD Cybertruck, the cheapest version of its angular EV truck.

Holy mackerel! The least expensive pickup truck offered by Tesla was $61K! 

Seven New Permits; One Permit Renewed; Three DUCS Reported As Completed -- October 3, 2024

Locator: 48480B.

Well, that didn't last long: port strike over (for now). Sounds like they may "meet" again in January to dot the i's and cross the t's. 

Spirit Airlines: may declare bankruptcy. No comment. 

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Back to the Bakken

WTI: $73.71.

D-Day, H-Hour (local time):

• Saturday, October 5, 2024
• 2200 hours
• current time (local):
• CDT: 3:11 p.m. (lags GMT by five hours)
  
• IDT: 11:11 p.m. (overtakes GMT by three hours), October 3, 2024
  
• GMT: 8:11 p.m.
• at 2:00 p.m. CDT today, it was exactly 48 hours to H-Hour, D-Day.

Active rigs: 36.

Seven new permits, #41199 - 41205, inclusive:

• Operators: Silver Hill Energy (5); MRO (2);
• Fields: North Tioga (Burke); Bailey (Dunn)
• Comments:
• Silver Hill Energy has permits for two Rooster W Federal wells and three Ringneck W wells, SESW 2-159-94, 
• to be sited 415 FSL and between 1483 FWL and 1623 FWL;
• MRO has permits for two wells, Benjamin 44-31H, and Alverson 24032H, lot 2, section 5-145-93, 
• both to be sited 699 FNL with Benjamin 2469 FEL and Alverson 2389 FEL.

One permit renewed:

• 34060, Silver Hill, Keller W, Burke County;

Three producing wells (DUCs) were reported as completed:

• 40222, 1,274, CLR, Marshall 4-13H,
• 40253, 1,799, CLR, Benner 5-7H,
• 40432, 2,539, Enerplus, Fearless 150-94-06A-18H-LL, these wells and the "wells of interest" below are tracked here.
  

Wells of interest:

• 23541, 1545, Enerplus, Honor 150-94-06B-18H TF, Spotted Horn, t6/14; cum 788K 11/23; off line;
• 23542, 1,007, Enerplus, Grace 150-94-06B-07H, Spotted Horn, t2/13; cum 426K 11/23; off line;
• 26608, 1,601, Enerplus, Courage 150-94-06A-18H, Spotted Horn, t6/14; cum 716K 11/23; off line;

Inflation -- In This Economy? Kyla Scanlon -- October 3, 2024

Locator: 48479INFLATION.

 

Large Language Models -- Chatbots -- ChatGPD -- Llama -- Gemini -- Siri -- And All That Jazz -- October 3, 2024

Locator: 48478CHAT.

Llama, Gemini, and OpenAI (ChatGPT): how do they differ? Llama, Gemini. ChatGPT. Siri.

• ChatGPT (OpenAI):
• Llama (META): link here. LLM.
• Gemini (GOOG): link here. Chatbot. LLM. Former: Bard
• Silicon/Siri (Apple Intelligence): link here.

 

EVgo: Perhaps The Most Interesting EV - EV Charging Story Today -- October 3, 2024

Locator: 48477EVS.

Ticker:

EVgo (EVGO): not to be confused with Canoo (GOEV): EVgo  (EVGO) ticker spikes 64% today on news that company received $1-billion loan guarantee from Biden administration. Company's market cap prior to announcement: $2 billion. Wiki. Tentacles everywhere. This is a most interesting story. I think one can opine why this company was given this guaranteed loan from the Biden administration. From the blog:

June 12, 2023: one step closer to the "holy grail." Ford and GM partner wtih Tesla for access to Tesla's superchargers. If Stellantis follows suit, game over. 

Crashed and burned: Blink Charging, EVgo, and ChargePoint;

• Motley Fool notes Tesla partnership with F, GM; says Stellantis could be next;
• closer and closer to the "holy grail": a universal supercharger.
• see this post.

Thursday Afternoon -- October 3, 2024

Locator: 48476AI.

Llama, Gemini, and OpenAI (ChatGPT): how do they differ? Llama, Gemini.

• ChatGPT (OpenAI):
• Llama (META): link here. LLM.
• Gemini (GOOG): link here. Chatbot. LLM. Former: Bard
• Silicon (Apple Intelligence): link here.

Wow: link here.  

One person hoping beyond hope that Trump wins the presidency. A most effective ad, I would think, would be to post the names of those folks likely to be released from prison if Donald Trump is elected president. The list would be quite long. Probably longer the list of illegal immigrants who have been convicted of some serious crime. Release would occur almost "immediately."

Stockpile these: port strike. Link here. Truly amazing. Rao spagetti sauce. LOL.

Paper products: toilet paper, Bounty paper towels. No shortage at warehouses. 

Shortages with be regional and more specifically individual stores due to local panic, stockpiling, runs on stores, but there will be no actual shortage. Unlike Covid which was a worldwide phenomenon, this is a US-specific problem, and having said that, a problem for the US east of the Mississippi, and even more specifically, a problem for New York city area. This will end November 6, 2024, at the very latest. 

Seasonal hiring: Amazon to hire 250,000 seasonal workers; same as last year.

EVgo (EVGO): not to be confused with Canoo (GOEV): EVgo  (EVGO) ticker spikes 64% today on news that company received $1-billion loan guarantee from Biden administration. Company's market cap prior to announcement: $2 billion. Wiki. Tentacles everywhere. This is a most interesting story. I think one can opine why this company was given this guaranteed loan from the Biden administration. This story will be followed here. From the blog:

June 12, 2023: one step closer to the "holy grail." Ford and GM partner wtih Tesla for access to Tesla's superchargers. If Stellantis follows suit, game over. 

Crashed and burned: Blink Charging, EVgo, and ChargePoint;

• Motley Fool notes Tesla partnership with F, GM; says Stellantis could be next;
• closer and closer to the "holy grail": a universal supercharger.
• see this post.

Student loans: Federal judge says Biden's plan can go forward. For the archives. I have no dog in this fight and no longer care.

Well, that didn't last long: one day later, another Federal judge ruled against Biden. I can't make this stuff up.

D-Day, H-Hour (local time):

• Saturday, October 5, 2024
• 2200 hours
• current time (local):
• CDT: 3:11 p.m. (lags GMT by five hours)
  
• IDT: 11:11 p.m. (overtakes GMT by three hours), October 3, 2024
  
• GMT: 8:11 p.m.
• at 2:00 p.m. CDT today, it was exactly 48 hours to H-Hour, D-Day.
  

WTI — The “October Surprise” — October 3, 2024

Locator: 48475WTI.

https://oilprice.com/Energy/Oil-Prices/Oil-Explodes-4-Amid-Talk-of-Israel-Attacking-Iranian-Oil-Gas.html.

$73.23. Up 4.5%. Up $3.13.

Don’t let anyone fool you. The only reason folks watch NASCAR is for the wrecks.

The only reason traders buy energy —

Investors buy energy for another reason. Think India. By the way, I have to come back to the India story some time.

My post, earlier this morning: https://themilliondollarway.blogspot.com/2024/10/the-mideast-waiting-game-october-3-2024.html.

If nuclear site access points are not taken out, it gives Iran time to re-think their strategy and it corroborates any serious thinking that Iran’s nuclear program is an existential issue.

The best thing one of my former USAF commanders taught me: wait to react and don’t over-react. Major General John L. Barry, Incirlik Air. Base, Turkey. Link here.

Saudi Arabia Foreign Exchange Reserves -- October 3, 2024

Locator: 48474SAUDI.

Link here.

Link here.

Cramer's First Hour, Part 2 -- October 3, 2024

Locator: 48473CRAMER.

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.  

Carl, Santelli, and the judge. Add Sara Eisen to this and one would have the best CNBC panel. Period. Dot. Andrew Ross Sorkin was always weak. I often think he wishes he had four names, like George Herbert Walker Bush. Kernan has become a joke. 

Today's meme: trends are higher; buy the dips.

Levi Straus; down 11% pre-market; Looking to sell Dockers. Dockers did not perform; sales off 13%. Its Dockers brand decreased 15% on a reported basis and 13% on a constant-currency basis with Levi announcing that it has started a "formal review of strategic alternatives for the Dockers brand," and the CEO clearly said Levi would sell Dockers. Not exactly selling into strength.

Overall, kind of a blah day.  

E&P energy sector tracking for its best week since January, 2024. We'll know next Monday exactly where this is headed. 

Personal investing: good, bad, or indifferent -- my portfolio has boiled down to these three after 40 years of active investing:

• energy
• Apple
• tech

Personal investing:

• my portfolio is now in the hands of the grandchildren
• pivot to Schwab ETFs: SCHD, SCHG, SCHB
• re-set every six months
• review every month 

Personal investing:

• Sophia will add to one of her Schwab ETF positions today.

OpenAI: incredible investment numbers. May require stand-alone post. One can start here.

OpenAI wrapped up its $6.6 billion financing at a $157 billion valuation—a remarkable achievement that raises the stakes for CEO and founder Sam Altman to build on the lofty price tag for an eventual IPO. The San Francisco-based company is now worth far more than any VC-backed company at the time of their IPO—including Meta, Uber, Rivian and Coinbase, according to an analysis of PitchBook data

**********************************
Disclaimer
Brief 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. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. 
  

Cramer's First Hour, Part 1 -- October 3, 2024

Locator: 48471CRAMER.

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC. 

Cramer and Dave Faber off today. Jewish New Year.

Weekly jobless claims: 

•  220K expected
• today: 225K -- second highest of the month (September). 

Economy doing great. May be slowing a bit, but overall, an incredibly strong economy. It will be interesting to track economic numbers during the port strike. The port strike, at best, is a regional story, and having said that, maybe a specific state story: specifically: New York and New Jersey.

Energy: nothing more than a dividend play. So, let's compare, one year and "max." Note: "max" takes us only back to 2011. 

Professional management, diversification, lessons learned and all that jazz: a starter kit.

US national debt: if one wants to argue that the US national debt is driving inflation, one needs to look at the return of energy (XLE) since 2011. Zero percent.

On AI: Joe Kernan doesn't get it. Equates AI with the iPhone 16. LOL. 

Coal: one word -- India. Charles Kennedy: 

India's coal output increased 31% in 1Q24. Earlier this year, Bloomberg reported citing unnamed sources that India aimed to add as much as 15.4 gigawatts of new coal-fired power capacity this year, the most in nearly a decade. Coal is the biggest source of energy on the subcontinent, accounting for some 70% of the energy mix, even as the government works to expand wind and solar capacity.

Stellantic: looks like it will fall another 4% today.The port strike won't help. European automakers in huge trouble. China? Looking good. West Coast ports open.

Ovintiv Marketing Certain Non-Operated Working Interest Assets In The Midland Basin Of Texas -- October 3, 2024

Locator: 48472WTI.

Ovintiv: link here.

Ovintiv: wiki.

Seriously, Not On My Bingo Card Today -- October 3, 2024

Locator: 48470TECH.

NVID:

Nvidia overnight:

And before that:

Nvidia's Blackwell Demand Is Surging
Has Jensen Huang Nervous
Worried About Meeting Demand

At the end of the day, no other sector is doing this; no other company is doing this.

Despite the huge infusion of Biden-cash, Intel - INTC continues to fall: 

AMD, up 16% in the past month:

At one time, the P/E seemed to mean something. Apparently not any more. AMD, a legacy company, has a P/E of almost 200. NVDA? 56. AAPL: 35. DIS: 36.

What Next? October 3, 2024

Locator: 48469MIDEAST.

Earlier I posted this: 

Mideast waiting game is on, what will it be? 

• Kharg Island
• Natanz / Qom
  
• Hormuz
  

Then, the google search: israel what next kharg island nuclear sites the strait.

The return. Note how recent these stories all are:

Pre-market: the traders are edgy -- either the economic numbers to be released tomorrow, or the Mideast. My bet is on the Mideast. Friday's economic numbers are not driving oil higher.

So, back to the question, where will Israel strike Iran next: Israel won't want to do anything to "hurt" Saudi Arabia. If any attacks on Iran's oil sector, those strikes will have to be very precise. The risks are too great. Rubble over Natanz entrance. exit sites make a lot more sense. Minimal collateral damage. Internationally little effect. Iran won't want to report what happened. If a tree falls in the woods and there's no one there to hear it ... did it happen?

*********************************
The Book Page

Link here.

I'm not sure why I checked out that site. Oh, yes, now I remember. Isherwood.

And, of course, this, from yesterday:

Link here. Or here, if that link does not work. May be behind paywall.

Six Wells Coming Off Confidential List To End The Week -- October 3, 2024

Locator: 48468B.

Why is it so quiet in the Mideast this morning?

Pre-market:

Fisher Investments is correct. It's easy when the market is going up but ... the giddiness one sees on twitter with regard to the market is very, very concerning ...

OpenAI, the company behind ChatGPT, has raised $6.6 billion from investors, which could value the company at $157 billion and cement its position as one of the most valuable private companies in the world.

Ovintiv: marketing certain non-operated working interest assets int eh Midland Basin of Texas. Link here.

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

WTI: $71.59. Up 2.13%.

Friday, October 4, 2024: 10 for the month; 10 for the quarter, 524 for the year
40578, conf, Oasis, Iceman Federal 5601 34-04 5B,
40322, conf, Oasis, Iceman Federal 5601 34-04 4B,
38261, conf, Hess, BB-Olson-150-95-0817-5,

Thursday, October 3, 2024: 7 for the month; 7 for the quarter, 521 for the year
40622, conf, Oasis, Iceman Federal 5601 34-05 2B,
40579, conf, Oasis, Iceman Federal 5601 34-05 3B,
37823, conf, Enerplus, Sly 149-93-10B-15H,

RBN Energy: new gulf coast storage coming online, with still more capacity being planned. 

As a group, Texas, Louisiana, Mississippi and Alabama have more than 1.1 trillion cubic feet of natural gas storage capacity, most of it along — or within easy reach of — the Gulf Coast, with its long-and-growing list of LNG export terminals as well as gas-consuming industries and gas-fired power plants. That’s a good thing, but still more gas storage will be needed to help ensure there is sufficient gas in hand to meet the region’s rising — and increasingly volatile — requirements. In today’s RBN blog, we’ll continue our review of Gulf Coast storage projects with a look at plans by Trinity Gas Storage and Caliche Storage.

All's Well That's Blackwell; Blackwell: America's First Nurse, An American Mathematician, And Now A Nvidia GPU -- October 2, 2024

Locator: 48467BLACKWELL.

Nvidia overnight:

Nvidia's Blackwell GPU.

Blackwell is a graphics processing unit (GPU) microarchitecture developed by Nvidia as the successor to the Hopper and Ada Lovelace microarchitectures. Named after statistician and mathematician David Blackwell, the name of the Blackwell architecture was leaked in 2022 with the B40 and B100 accelerators being confirmed in October 2023 with an official Nvidia roadmap shown during an investors presentation. It was officially announced at Nvidia's GTC 2024 keynote on March 18, 2024.

But another bit of trivia, completely unrelated but interesting none the same. There was another "famous" American with the Blackwell surname: 

Elizabeth Blackwell (1810 - 1921) was the first American woman to have become a physician; she visited Paris in 1840, to study medicine there, as many great physicians did at that time. Bio here.

While teaching in Cincinnati, Blackwell boarded with the families of two southern physicians who mentored her. In 1847, she returned to Philadelphia, hoping that Quaker friends could assist her entrance into medical school. 

Rejected everywhere she applied, she was ultimately admitted to Geneva College in rural New York, however, her acceptance letter was intended as a practical joke. 

She graduated in 1849, first in her class, and ultimately started a small clinic in NYC in 1851.