is... watching & waiting
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Nordstrom cutting hundreds of jobs
The cuts confirm a terrifying new reality for high-end retailers: Wealthy shoppers are reining in spending and — along with the rest of American consumers — refusing to pay full price for anything.
https://www.yahoo.com/style/nordstrom-cutting-hundreds-jobs-confirming-214646565.html
Nice pickup on the dip, secured some profit at $16.04 but riding the rest to $20, should be an interesting close/week
A red candle .. quick call PPT
Rolling over into open despite USD wacked, Genscape -860k?
USD getting whacked
Kuwait’s crude output edged higher to 1.5 million barrels a day as the state oil company brought more production facilities back on line after halting some operations at the start of a labor strike now in its third day.
Production in northern Kuwait returned to a normal level and Kuwait Petroleum Corp. restarted units in the country’s southeast, helping boost overall output, the oil industry’s spokesman, Sheikh Talal Al-Khaled Al-Sabah, said in a post on Instagram.
http://www.bloomberg.com/news/articles/2016-04-19/kuwait-oil-workers-strike-over-pay-dispute-enters-third-day
Picked up some more at $14.87
The market is looking for another 2 million barrels added to stockpiles.
http://www.nasdaq.com/article/oil-rebounds-from-trend-support-whats-next-cm607899#ixzz46Gh10n6C
Assuming we chop sideways into next week, this will be the first time the market's traded at highs for the year, and just 40 handles away from all time highs, as they've met. Rest assured it won't be 9-1 in opposition again.
The indicators, stats, etc. bull$hit is just noise ... if the S&P can handle it, they'll do it. That being said, election year, they're in no hurry to mess up the roses and rainbows, I look to take small pos in Nug prior to on a pullback as well.
Anticlimactic opening for the Shanghai exchange, but another attempt to base 1250 this am, Dust $1 handle on the way.
GL today
Hung up on $0.25 handle again ... strange
NFLX getting hammered, close $111 bidding $97s... IBM off three bucks.
Please tell me you didn't see Lion King over the weekend?
Nothing says 'buy stocks' quite like collapsing earnings, over-levered consumers, and over supply of commodities.
Plunge protection team working overtime this morning ... I'd be shocked if the Fed wasn't gobbling up these long oil contracts
Kuwait to boost oil production despite strike: Arabiya
What a circus... I'm out GL fellas
One concern is that the retreat we’re seeing this morning — though it has abated somewhat — could very well accelerate from here. Michael O’Rourke of Jones Trading points out in this chart that “80% of the speculator positions in crude are long, thus making the commodity ripe for a pullback."
http://www.marketwatch.com/story/a-big-move-this-way-comes-and-not-just-in-the-price-of-crude-oil-2016-04-18
Kuwait end's tomorrow and the bullish outlook would be bleek... the plunge protection team will put up a fight but the tide's turning
Bleek outlook with $0.36 overhead now
$40 fell again - $39.9 (-4.22%) DWTI $140 ... Monday morning QB's a plenty
Nobody loving these $21's? Making second/third buys?
Kuwait headline is a band-aid to a gunshot wound... holding
$39.20's opened -6.0% gap down
In a later statement on Twitter, al-Khaled said production rates were gradually improving and that normal levels were "not far off".
Last weeks' news conveniently regurgitated, moot given Iran Russia SA
Crude at $39.85 Brent at $41.57 DWTI at $133.50 in Futures and ETF Sentiments fwiw
Kuwait strike will compete for headlines but Iran will fill the void, regardless we'll know if it holds water Wednesday should it gain traction.
Contract rolled over, $41.71, should go to $40.40 immediately, $39.5, $38.7? $37.5?
Few hours til trading ... could be fun - GL gentlemen
Check mate - rug pulled
Bloomberg Oil-Freeze Talks End in Failure Amid Saudi Demands Over Iran
April 17, 2016 — 2:06 PM EDT
Negotiations between 16 oil producers in Doha ended without any agreement on limiting supplies, a diplomatic failure that threatens to renew the rout in prices.
The summit in the Qatari capital, which dragged on for more than ten hours beyond its initially scheduled conclusion, finished with no final accord, Nigeria’s Petroleum Minister Emmanuel Kachikwu told reporters. Discussions stumbled over whether the agreement should extend to other producers such as Iran, which wasn’t present, according to a person familiar with the matter. The inability to reach consensus will lead to a “severe” drop in prices, Citigroup Inc. predicted before the meeting.
http://www.bloomberg.com/news/articles/2016-04-17/oil-freeze-talks-end-in-failure-amid-saudi-demands-over-iran
BREAKING: Doha oil talks end without agreement - Dow Jones & Reuters, citing sources
No deal announced but not confirmed, press conference about to begin
#Opec sec gen leaves. Only says "please let me go to my room." #DohaTalks
Said to be returning... they hope
Latest Doha draft contains none of the binding provisions of previous version
Talks are about saving face now.
Here is the short version of what happened in Doha.
Saudi Arabian leaders showed up and said they wouldn't support a deal without Iran. Talks broke down and the Qatar then tried to broker a new deal.
Those negotiations continue and are 8 hours past the schedule conclusion. The latest draft seen by Reuters was something vague, like a statement that said all producers inside and outside OPEC should freeze production at "agreeable levels."
To begin with, the production freeze talks were a bit of joke but now they're a complete farce.
Read more: http://www.nasdaq.com/article/latest-doha-draft-contains-none-of-the-binding-provisions-of-previous-version-cm607380#ixzz466abqtyR
Russia, Saudi debate oil deal draft at Doha talks
http://af.reuters.com/article/commoditiesNews/idAFL9N0VZ018
Saudi-Iran feud mars Doha oil talks, output deal unlikely
A senior oil industry source said: “The problem now is to come up with something that excludes Iran, makes the Saudis happy and doesn’t upset Russia.”
http://thenewsnigeria.com.ng/2016/04/saudi-iran-feud-mars-doha-oil-talks-output-deal-unlikely/2/
Talks between OPEC and non-OPEC oil producers in the Qatari capital of Doha have been running for over two hours with the main debate focusing on the wording of a proposed freeze on output, industry sources said on Sunday.
Some 18 countries, including Russia, had been due to meet on Sunday morning to rubber-stamp a deal - in the making since February - to freeze output at January levels until October 2016.
But the meeting was postponed after Saudi Arabia told participants it wanted all OPEC members to take part in the freeze.
As a result, a reworked draft communique seen by Reuters contained none of the binding points of the previous outline.
It also said producers in and outside the Organization of the Petroleum Exporting Countries should agree to freeze oil production at "an agreeable level" as long as all OPEC countries and major exporting nations participated.
http://www.thepeninsulaqatar.com/business/oil-market/378802/doha-oil-output-debate-runs-into-third-hour-report
"The agreement is gentlemen-like as the countries realize that the maintained norms of output will suit the joint interests. It does not envisage any control mechanisms and each country should observe its implementation," Aliyev said, adding that he had not received any proposals to create a special supervisory body for monitoring the fulfilment of obligations.
"There is no need in a supervisory body," he said. "No proposals have come since it will have no influence on the countries."
"We are ready to sign the agreement in a form that we have seen," Aliyev said. "We have a complete understanding with Russia, as well as mutual goals and interests."
"We believe that all the delegates who arrived in Doha are set to sign it, or why then they came here, otherwise," he said.
Gentleman's agreement suffice? No enforcement? #CounterPosture
“A no-show by the Iranians is actually positive for the Doha talks as all know that they wouldn’t agree at this stage,” said John Sfakianakis, director of economics research at the Gulf Research Center. “A deal can be reached even if Iran for now is absent. The sentiment is still positive as global supply is falling. The Iranian participation issue is not significant and will be reconsidered down the road. There is enough momentum with the rest of the members now.”
The meeting in Doha is only relevant if no deal is reached, prompting a sharp sell-off in the markets, according to Ed Morse, head of commodities research at Citigroup Inc.
...
"If prices went up to $60 or $70, that would be a strong factor to push forward the wheel of development,” Prince Mohammed said. “But this battle is not my battle. It’s the battle of others who are suffering from low oil prices.”
Prince Mohammed also said that Saudi Arabia isn’t concerned because “we have our own programs that don’t need high oil prices.”
http://www.bloomberg.com/news/articles/2016-04-16/saudi-prince-sticks-to-oil-freeze-ultimatum-as-iran-stays-home