Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Davy Crockett who wrote (17814)	3/3/2016 12:36:04 PM
From: John Pitera	2 Recommendations Recommended By Davy Crockett roguedolphin Respond to of 33421

Oil and Gas Drillers in the U.S. Ready to Party Like It's 1859 by Dan Murtaugh March 2, 2016 — 11:00 AM CSt The energy business in the U.S. is about to travel 150 years back in time. Oil and gas companies have cut so much spending amid the biggest price crash in a generation that there are only 502 drilling rigs still active in the country, according to Baker Hughes Inc. In the next few weeks, that could fall below 488, the lowest level in records dating back to 1948, according to Paul Hornsell, head of commodities research for Standard Chartered Bank. “While there is no consistent series for drilling activity before 1948, we think it likely that to find a lower level of activity would require going back to the 1860s, the early part of the Pennsylvania oil boom,” Hornsell said in a research note today. Melanie Kania, a Baker Hughes spokeswoman, said she was unable to find information pertaining to rig counts prior to 1949. The Pennsylvania oil rush began in 1859, when Colonel Edwin Drake struck rock oil near the town of Titusville in the western part of the state. Industrialist Andrew Carnegie visited the area in the early 1860s and was inspired by the frantic activity he found there. “Everybody was in high glee; fortunes were supposedly within reach; everything was booming,” Carnegie wrote in his autobiography. “On the tops of the derricks floated flags on which strange mottoes were displayed. I remember looking down toward the river and seeing two men working their treadles boring for oil upon the banks of the stream, and inscribed upon their flag was ‘Hell or China.’” The industry has obviously come a long way since then, and modern rigs are far more productive than rigs from even a generation ago. There is at least one similarity between derricks of yore and today that still holds true, though, Hornsell said. “Each active rig is the result of a decision to employ capital in the industry, and the current lack of drilling indicates a strong drive to conserve cash,” he said. http://www.bloomberg.com/news/articles/2016-03-02/oil-and-gas-drillers-in-the-u-s-ready-to-party-like-it-s-1859 ---------------------------------- with so much production off line.... it is helping to bring supply and demand back into equilibrium..... Natural Gas.... you have to go back to 1998 and 1999 lows to find lows that we find NG.... it will definitely rebound as we go into the summer A/C cooling season, especially if we see the type of continued warming that made 2015 the hottest year on record.

To: Davy Crockett who wrote (17814)	3/4/2016 1:49:04 AM
From: John Pitera	1 Recommendation Recommended By Davy Crockett Respond to of 33421

DC, I was getting pretty hyper positive on crude and equities at the very start of the day on Feb 16th... the first day back after the 3 day President's day holiday. I was for me pretty euphorically bullish from a trading basis at 3 AM on Tuesday Morning. We had a daily momentum buy in Crude.... and in a number of other US indicates. Message 30459526 we pulled some of the positions down that morning even without the stop loss getting hit.. Luckily we use stops that we don't readjust..... they either get hit or the position stays on with a rising Stop on the mechanical /Algorithmic systems Feb 16th was a good example of me posting to much short term info...... from a psychology point of view it makes sense that I said what I said in the follow up posts as the psychology of the market has to have the vast majority on the wrong side of it at turns. just as an aside the big 3 currencies are acting much more statistically normal the past 8 days the GBP has different circumstances JJP