101 Days Of Summer -- Day 7 -- June 2, 2023

Locator: 44829B.

Today, day 7:

• biking weather, scale 1 - 10: a twelve (12)
  
• a swimming day later this afternoon

Reading:

• The Naked and the Dead, Norman Mailer
• The New Yorker, "Words Fail," Rachel Aviv. 
• The victim's story sounds  --- well, as Monk would say, "something's not right here" --
• "here's the thing": no evidence of rape from what I've read so far

MAGA Republicans who were willing to force the US into default over benefits for the homeless and veterans need to read Rachel Aviv's article. 

Advice for high school students: never stop reading. Never stop growing. 

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Health

For the archives.

Covid-19: the immediate family member with Covid-19 is recovering nicely. I don't know if that individual was prescribed Paxlovid.

Needle biopsy: another immediate family member had a needle biopsy yesterday -- no sign of cancer!

Two, Four, Six, Eight -- Who Do We Appreciate? June 2, 2023

Locator: 44828INV.  

VIX: trending toward 15. Whoo-hoo! The market at the open:

The gambler, "don't count your money at the table ..."

I don't get this talk about only five or eight -- two, four, six, eight -- who do we appreciate -- stocks taking the market higher. Every one of my portfolios is green -- and really green -- and the portfolios cover the entire spectrum.

Back To The Bakken -- June 2, 2023

Locator: 44827B.  

The debt ceiling bill: some call it a kabuki dance. I call it a Charlie-Brown-Lucy-Van-Pelt-football joke -

• entirely predictable
• several frames leading up to the anticlimactic finish
• Charlie Brown: Lindsey Graham
• Lucy Van Pelt: Nancy Pelosi

The ending of this story was so anticlimactic it was not even the headline story in The WSJ today. The headline story: 

Debt bill is passed with incredibly little fanfare. Not even mentioned over at Drudge. 

Question:

• which party controls the White House? Which party controls the US House? Which party controls the US Senate?
• if any of your answers included "the GOP," you're not paying attention. LOL.

GOP caved; Lindsey Graham said he would kill it. I didn’t even see Lindsey’s name in any headline after the bill passed. Senate fast-track method was incredible — no fanfare, Schumer steamrolled this. The news media certainly didn’t see this coming. Or they hyped it to sell newspapers. As if anyone really cared.

VIX: trending toward 15. Whoo-hoo! The market at the open:

DVN: up almost 2% today and way, way, way off its highs. Let's go, Brandon.

Oil surges, as predicted, once the debt bill passed:

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Back to the Bakken

Active rigs: 36.

WTI: $72.03.

Natural gas: $2.199.

Peter Zeihan newsletter. E-mail campaign archive.

Sunday, June 4, 2023: 8 for the month; 118 for the quarter, 373 for the year
39243, conf, CLR, Meadowlark FIU 6-6HI,

Saturday, June 3, 2023: 7 for the month; 117 for the quarter, 372 for the year
39190, conf, Ovintiv, Rolfsrud 152-96-32-29-15H,
38967, conf, Hess, GO-Aslakson-156-97-2734H-6,
38629, conf, Whiting, Kannianen Federal 11-4TFHU,

Friday, June 2, 2023: 4 for the month; 114 for the quarter, 369 for the year
39294, conf, Petro-Hunt, Hot Rod 149-102-27B-26-3H,

RBN Energy: Hawaii -- the move away from fossil fuels is easier said than done.  

t has become abundantly clear over the past couple of years that energy transition isn’t going to be a straight line leading directly to abundant carbon-free power and a net-zero world. All sorts of obstacles have popped up, indicating that the energy industry’s trilemma of availability, reliability and affordability not only clash with each other, they can also conflict with environmental priorities. The challenge is being felt now in Hawaii, where a commitment to expanding energy production from renewable sources and tamping down the use of fossil fuels while also keeping prices under control and reducing pollution is turning out to be no easy feat. In today’s RBN blog, we look at Hawaii’s recent efforts to phase out coal- and oil-fired power generation, why that’s turned out to be easier said than done, and what it all means for environmental performance and energy prices. 

Temporary Post: Blogging Delayed For One Hour — June 2, 2023

Locator: 44826JOBS. 

Not ready for prime time:

Yesterday analysts missed the ADP number by 54%. Today, the jobs number was missed by 78%. 

Jobs:

• forecast:190,000
• actual: 339,000 

Someone at CNBC is completely missing how incredible this economy is. I’m sorry I missed Steve Liesman’s analysis. Not. 

Unemployment finally increased to 3.7% but still incredibly low. I still prefer U-1 vs U-3. I’ll post U-1 later. 

Liz Sonders addresses that. I’ll post graph when I start blogging. 

AAPL is up in pre-market trading. 

Debt bill is passed with incredibly little fanfare. Not even mentioned over at Drudge. 

GOP caved; Lindsey Graham said he would kill it. I didn’t even see Lindsey’s name in any headline after the bill passed. Senate fast-track method was incredible — no fanfare, Schumer steamrolled this. The news media certainly didn’t see this coming. Or they hyped it to sell newspapers. As if anyone really cared. 

NVDA up another $3.50 today. 

That Phoenix water story was so far off the mark, embarrassing. The WSJ explained it; it’s a non-story. TSM has huge problems in Phoenix but it’s not due to water. TSM up 3% in pre-market. As I was saying, TSM is having huge problems. 

Know who IS having huge problems? ChargePoint. IYKYK. 

Busy day for blogging. People who sold in May and went away …. wow …. what a mistake …. at least as of today. Maybe when the market crashes this month, we will hear “in June, the market to swoon.” 

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Updates. Still waiting for the spellchecker and editor to get up out of bed before I can start blogging. Just because school is out for the summer, she thinks she can sleep in. While waiting: Liz. What I like about Liz -- she posts so many graphs every day, one can pick and choose the graph that supports your narrative. 

Exhibit A, link here:

Pre-market:

Healthcare: 20 best. Link here.

Oil surges, as predicted, once the debt bill passed:

 

The Big Story Tomorrow — The WSJ’s Assessment Of Russia’s Economy — June 1, 2023

Locator: 44826RUSSIA.