Off The Net For Awhile -- July 19, 2023

Locator: 45166B. 

There is so much more to report -- can't wait to get to "chips," for example -- but I'm going to the park with the grandsons.

We're going to learn some new terms -- stay tuned.

Oh, by the way, AI / chips -- not a bubble.

An Incredibly Important Headline -- Barron's -- July 19, 2023

Locator: 45165ECON.

Astute investors need to be asking themselves "why?" 

Does anyone really believe the Fed orchestrated this? 

This is all I need to know.

The oft-accepted reason for inflation: too many dollars chasing too few goods.

Bidenomics -- Market -- Economy Notes -- Part 2 -- July 18, 2023

Locator: 45164ECON. 

Netflix.

Netflix holds a special place in my heart -- a very special place.

Today: $474.

One year ago: $200.

And $180 back on July 1, 2022 -- a little over a year ago.

DISNEY: Walt rolling over in his grave .... DIS has turned into a great trading stock, but no longer a place for investors. Or start buying it on speculation that Apple would buy it -- but that makes no sense whatsoever. Maybe we'll talk about this sometime.

Bidenomics -- Market -- Economy Notes -- Part 1 -- July 18, 2023

Locator: 45163ECON. 

Wow! AAPL just went green!! I can buy a new pair of shoes for Sophia!

GDPNow: 4.2.

Market:

Weekly EIA petroleum report, link here.

• US crude oil in storage: one percent above the five-year average! What tightening?
• of course, the five-year average is affected by the plague years, 2020 - 2022
  
• US refinery operators working at max capacity
• distillate fuel increased slightly but still 14% below five-year average; 
• refiners don't have "right oil" or economics not pushing distillate fuel (probably the latter)
  
• gasoline product supplied over the past four weeks increased by almost 5% over same period last year
• refiners responding
  
• POV travel appears to be increasing;
• along the highway, north Texas to northwest US, diesel was priced about the same as gasoline;
• no shortaggees of fuel seen anywhere

CVX: up.

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These Are The Guys Giving Us Investment Advice

Goldman Sachs profit plunges 58%.

It was so bad, their friends over at CNBC didn't put "58%" in th headline!

Fire On Edge Of New Town -- Yesterday -- July 18, 2023

Locator: 45162FIRE.
Locator: 45162B. 

Four injured; one flown to Minot. Fire "quickly" extinguished.

Operated by Devon; would be identified as WPX wells on north edge of New Town along "23B."

 

 

The DVN / WPX wells:

• 39170, drl, WPX, Pennington 16-15HCL, Big Bend, t--; cum --
  
• 39169, drl, WPX, Pennington 16-15-14HZ, Big Bend, t--; cum --
• 39168, drl, WPX, Pennington 16-15HB, Big Bend, t--; cum --
• 39167, drl, WPX, Pennington 16-15-14HY, Big Bend, t--; cum --
• 39166, drl, WPX, Pennington 6-15HA, Big Bend, t--; cum --