Bull Market officially over!! Year heading negative.

[Breccia]

Wal-Mart stock is having the time of its life. Makes sense, and it's a good thing it's in the DOW, offsetting losses like Boeing.

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Back above 20,000

Stock market is now in Jan 2017 territory. Trump has three months left to lose.

[Zan15]

damn if all those tesla shorts could have just held out for one or two more months they would not have lost billions.....

https://www.marketwatch.com/story/be...?mod=home-page

[Rasulis]

Looks like the initial selloff wasn't as bad as it's been recently. Only a few hundred down, no circuit breakers tripped.

The market is being propped up by the tech sector. There are several good news for long term investors.

Microsoft (+5.36%) Azure Cloud and LinkedIn revenues are up. Team's UDB gained several millions new members up to 32M users. Microsoft is working on new features for Team.

Apple (+0.61%) is selling iPad and MacBook like crazy.

Slack (+19.88%) gained 7,000 new corporate customers.

Google (+3.74%) YouTube revenue up over 30% and Google Cloud 53% since Covid19.

Amazon (+5%) JP Morgan showed higher revenue for both the on-line retail and AWS for 1st quarter and the entire year 2020.

Salesforce (+6%) revenue is up.

Facebook (+7.5%) revenue is up.

Not a public company. But still interesting. Bloomberg subscribers have almost doubled since the virus. Revenue is projected to go up from 10B in 2019 to 16B in 2020.

On the bad side, or good side, oil has rebounded to $25 per barrel. However, global oil storage is approaching full capacity while everybody are increasing production. What do you do with excess oil when you don’t have any more storage capacity? Nobody has the answer. We have never been in this situation before.

[Breccia]

What do you do with excess oil when you don’t have any more storage capacity?

Make plastics?

[Rasulis]

Make plastics?

That's a question better answered by a Petrochemical Engineer. Not it.

[Zan15]

On the bad side, or good side, oil has rebounded to $25 per barrel. However, global oil storage is approaching full capacity while everybody are increasing production. What do you do with excess oil when you don’t have any more storage capacity? Nobody has the answer. We have never been in this situation before.

an even bigger price war pushing oil below 20 bucks if the three majors don't stop being dicks to each other.

[Breccia]

Trump explains why he's staying out of the Russia-Saudi oil war:

We are trying to find some kind of a medium ground. It’s very devastating to Russia because when you look at it, their whole economy is based on that and we have the lowest oil prices in decades so it’s very devastating to Russia. I would say it is very bad for Saudi Arabia but they’re in a fight, they’re in a fight on price, they’re in a fight on output. At the appropriate time I’ll get involved

Reuters then goes on to say that Trump is wrong. Russia's economy is actually more diverse than the Saudi kingdom's.

Now that said, Trump saying he's not getting involved suggests the price is probably going to drop again. The US could raise the price easily by cutting off supply, but, then the US doesn't sell any. It's a tough place to be. The US makes more oil (shale) than Russia or the Saudies, but not more than both combined.

[Rasulis]

an even bigger price war pushing oil below 20 bucks if the three majors don't stop being dicks to each other.

Part of the problem is that every time SA and Russia cut production to try to increase price, they ended up giving away market share to US shale companies. Even Exxon is annoyed. Almost 100% of SA refineries were constructed and operated in joint venture with Exxon. Exxon has a lot invested in SA.

[Zan15]

Trump explains why he's staying out of the Russia-Saudi oil war:



Reuters then goes on to say that Trump is wrong. Russia's economy is actually more diverse than the Saudi kingdom's.

Now that said, Trump saying he's not getting involved suggests the price is probably going to drop again. The US could raise the price easily by cutting off supply, but, then the US doesn't sell any. It's a tough place to be. The US makes more oil (shale) than Russia or the Saudies, but not more than both combined.

LOL cute he thinks he has a choice.

They don't want him involved, they don't need him and they know he is useless and its embarrassing the way these countries don't respect him.

[Breccia]

They don't want him involved, they don't need him and they know he is useless and its embarrassing the way these countries don't respect him.

I won't dispute any of those individually or collectively.

Trump ordered a massive oil buy to restock the supply he sold off earlier. Honestly, that went well -- he bought at a really good time. But that barely made a dent on the price. I would have guessed a customer as large as the US oil reserves waddling up to the trough would add a few bucks per barrel to the sale price.

Does anyone know if the WH corona relief bill specifically hands US oil companies socialist bailout money? The only industry I keep seeing specifically called out is the airline industry.

[Zan15]

LOL, its def becoming more like 2000 in the market now..day traders dreams and nightmares all rolled up into one

https://www.marketwatch.com/investing/Stock/APRN

blue apron delivery....up 77%...down 12%...up...down..halted...up...down

Day Range
10.25 - 28.84

5 Day 520.71%
1 Month3 62.53%
3 Month 85.97%
YTD 117.91%
1 Year -6.28%

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I won't dispute any of those individually or collectively.

Trump ordered a massive oil buy to restock the supply he sold off earlier. Honestly, that went well -- he bought at a really good time. But that barely made a dent on the price. I would have guessed a customer as large as the US oil reserves waddling up to the trough would add a few bucks per barrel to the sale price.

Does anyone know if the WH corona relief bill specifically hands US oil companies socialist bailout money? The only industry I keep seeing specifically called out is the airline industry.

Problem is storage right now and the availability…

https://finance.yahoo.com/news/trump...154155278.html


The U.S. shale oil industry may not benefit as much as President Donald Trump hopes from his plan to top up the country’s Strategic Petroleum Reserve as oil prices plunge to historically low levels. He vowed to fill it “right to the top” with home-pumped crude in order to support domestic producers and boost American stockpiles at cheap prices.But there’s a hitch in his plan. The problem is sulfur — which smells like rotten eggs — or rather the lack of it in the crude pumped from wells drilled into the shale rocks of Texas and elsewhere.

About two-thirds of the spare capacity in the Strategic Petroleum Reserve, or SPR, is for sour crude — with a sulfur content of more than 0.5% — but the crude pumped from the shale formations of West Texas and elsewhere in the U.S. has very low concentrations of sulfur, if any at all. This will make it unsuitable for blending into the sour crude stored in the SPR.

The reserve consists of 60 underground solution-mined salt caverns spread across four sites along the Gulf coast of Texas and Louisiana. Each site holds both sweet crude — with less than 0.5% sulfur — and sour crude in separate caverns. The total capacity of the SPR is currently 275 million barrels of sweet crude and 479 million barrels of sour, with 250 million barrels of sweet crude and 385 million barrels of sour already in the caverns.

[Rasulis]

Trump explains why he's staying out of the Russia-Saudi oil war:



Reuters then goes on to say that Trump is wrong. Russia's economy is actually more diverse than the Saudi kingdom's.

Now that said, Trump saying he's not getting involved suggests the price is probably going to drop again. The US could raise the price easily by cutting off supply, but, then the US doesn't sell any. It's a tough place to be. The US makes more oil (shale) than Russia or the Saudies, but not more than both combined.

SA and Russia can adjust their output on the fly. For all practical purposes, their oil companies are state-owned. Not so with the US. Can the President tell the shale oil companies to stop drilling? I am sure he does not want to test that hypothetical question. Especially during an election year.

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I won't dispute any of those individually or collectively.

Trump ordered a massive oil buy to restock the supply he sold off earlier. Honestly, that went well -- he bought at a really good time. But that barely made a dent on the price. I would have guessed a customer as large as the US oil reserves waddling up to the trough would add a few bucks per barrel to the sale price.

Does anyone know if the WH corona relief bill specifically hands US oil companies socialist bailout money? The only industry I keep seeing specifically called out is the airline industry.

Oil company bail out will a tough sell for the Democrat controlled Congress. On top of that both Exxon and Chevron are against bail out.

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The reserve consists of 60 underground solution-mined salt caverns spread across four sites along the Gulf coast of Texas and Louisiana. Each site holds both sweet crude — with less than 0.5% sulfur — and sour crude in separate caverns. The total capacity of the SPR is currently 275 million barrels of sweet crude and 479 million barrels of sour, with 250 million barrels of sweet crude and 385 million barrels of sour already in the caverns.

This is important. Prior to the shale oil boom in 2008, the majority of the oil produced in the US was sour crude. That's why a lot of US oil transportation, processing and storage infrastructures are still geared for sour crude. Light sweet crude is a relatively new product for the US oil industry.

[Low Hanging Fruit]

Oil company bail out will a tough sell for the Democrat controlled Congress. On top of that both Exxon and Chevron are against bail out.

I mean they also got the biggest bail out in history by pretty much not having to pay any taxes thanks to Trump already. Hell, they get paid by the government in most cases. Of course they decided to throw that money in to the mega wealthy and stock buy backs instead of you know.. doing something with it.. that allowed the company to survive if things slow down for a mere month of the remainder of its lifespan.

[Rasulis]

I thought this is interesting. Apple stock is pretty flat today. However, Apple suppliers jumped.

Universal Display (+11.5%)
Cirrus Logic (+16%)
NXP (+18%)
Broadcom (+16%)

[Thepersona]

I thought this is interesting. Apple stock is pretty flat today. However, Apple suppliers jumped.

Universal Display (+11.5%)
Cirrus Logic (+16%)
NXP (+18%)
Broadcom (+16%)

Probably because chinese factories are going back to 100% capacity, is my guess

[Kasierith]

The market is being propped up by the tech sector. There are several good news for long term investors.

Microsoft (+5.36%) Azure Cloud and LinkedIn revenues are up. Team's UDB gained several millions new members up to 32M users. Microsoft is working on new features for Team.

Apple (+0.61%) is selling iPad and MacBook like crazy.

Slack (+19.88%) gained 7,000 new corporate customers.

Google (+3.74%) YouTube revenue up over 30% and Google Cloud 53% since Covid19.

Amazon (+5%) JP Morgan showed higher revenue for both the on-line retail and AWS for 1st quarter and the entire year 2020.

Salesforce (+6%) revenue is up.

Facebook (+7.5%) revenue is up.

Not a public company. But still interesting. Bloomberg subscribers have almost doubled since the virus. Revenue is projected to go up from 10B in 2019 to 16B in 2020.

On the bad side, or good side, oil has rebounded to $25 per barrel. However, global oil storage is approaching full capacity while everybody are increasing production. What do you do with excess oil when you don’t have any more storage capacity? Nobody has the answer. We have never been in this situation before.

Tech sector has billions in cash laying around for them to use whenever they wish. At least.. the tech giants do. My concern is more about the small tech companies that don't have years of surplus to burn off having to sell off to those giants.

[Breccia]

Huh, we were actually pretty much flat today. That's a welcome change.

[kaid]

Huh, we were actually pretty much flat today. That's a welcome change.

The mostly dead cat bounced a tiny bit we shall see what friday brings.

[Zan15]

The mostly dead cat bounced a tiny bit we shall see what friday brings.

Well the fact that we had no wild swings means that we could finally see the cats body get a break for a while...till unemployment numbers come out...

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Probably because chinese factories are going back to 100% capacity, is my guess

My second biggest worry after unemployment to the market is a resurge in China...which will almost 95% happen...and they will attempt to cover it up

[Low Hanging Fruit]

Well the fact that we had no wild swings means that we could finally see the cats body get a break for a while...till unemployment numbers come out...

GOP is trying to block states "by asking" not to report next month.