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Tropical Storm Cindy has formed in the Gulf of Mexico
ThePitBoss
June 22, 2017, 10:13:40 AM by ThePitBoss
Views: 578 | Comments: 10

Yesterday we saw oil prices continue to collapse, down over 20% in 18 days since the last OPEC fable.  By their admission OPEC misread the power of shale, and so have a multitude of fund managers with massive long positions. Its been painful to watch these types yelling their views and wishes for bear blood on social media.

We just got a 1-2 punch that saw WTI pop 40 cents, seems these are less and less given the overhead supply. That needs to go for anything meaningful.
Punch One: 'Saudis Boxed In by Low Oil Prices' Article in WSJ
Punch Two: SAUDI ARABIA SEARCHING FOR WAYS TO LIFT CRUDE OIL PRICES - GULF OIL OFFICIAL: WSJ
 
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CautiousInvestor
June 22, 2017, 09:00:10 AM by CautiousInvestor
Views: 428 | Comments: 10

JUNE 22 - Stocks slightly higher as OIL prices stabilize -- "Stocks edged marginally higher in early action Thursday as investors kept a wary eye on volatile oil prices. The S&P 500 SPX, +0.00% rose 0.1% to 2,437.52, while the Dow Jones Industrial Average DJIA, +0.01% rose 3 points. The Nasdaq Composite COMP, -0.06% was up 0.1%. Oil futures bounced higher after hitting a 10-month low on Wednesday" ... Oracle also had a good earnings report and is in rally mode for one item to further watch today

Oracle Soars 11% Up in the Cloud After Earnings

 

 
 
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ThePitBoss
June 22, 2017, 08:27:06 AM by ThePitBoss
Views: 641 | Comments: 9

Oracle Corporation $ORCL reported fiscal fourth-quarter earnings Wednesday after the market close showing annual earnings and revenue growth for the first time since the 2014 fiscal year. The strong beat saw $ORCL shares soar in the premarket up 11.50%. The enterprise software colossus is one of the last major reports of this earnings season.

Earnings: Net income  $3.23 billion, or 76 cents a share, on sales of $10.89 billion for the final quarter in its 2017 fiscal year. After adjusting for stock-based compensation and other effects, Oracle reported profit of 89 cents a share. Analysts expected 78 cents a share on revenue of $10.46 billion, according to FactSet.

Response: Oracle Corporation NYSE: ORCL Pre-market: 51.66 +5.33 +11.50%
 
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CautiousInvestor
June 21, 2017, 10:21:42 AM by CautiousInvestor
Views: 324 | Comments: 3

JUNE 21 - Stocks - Slightly down as OIL prices stabilize -- "Stocks moved mostly higher on Wednesday, June 21, as crude oil prices stabilized after a steep selloff. The S&P 500 increased 0.12%, and the Nasdaq rose 0.5%. The Dow Jones Industrial Average was slightly lower, falling 0.03%.  Crude oil prices crept higher after a steeper decline in domestic stockpiles than anticipated. Crude stockpiles dropped by 2.5 million barrels over the past week, according to the Energy Information Administration. Analysts anticipated a decline of 2.1 million barrels. Gasoline supplies fell, while distillates climbed.
" ...

 

 
 
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TradersCom
June 21, 2017, 10:13:10 AM by TradersCom
Views: 454 | Comments: 2

EIA's Weekly Gas Storage Report Report Date: 6/15/17
Release Time: Thursday June 22 25 2017 10:30 ET

Natural gas futures have tested multi month lows and seen little bounce as demand falters across the energy complex. Oil is also at 7 mth lows. Chatter has been on Tropical Storm Cindy, but not much there to create fear either way. Again the risk is South Central in forecasts. last week’s weather was 3 percent warmer than last year and 12 percent warmer than the five-year average.

Market Expectations
Actual + Bcf Prior Actual +78 Bcf
Consensus Forecast  +58 Bcf
Cons. Range: +51 to +64 Bcf
EIA swap: +59 to +60 @ CT 15.13

Last Week's Report +78 Bcf #TCNG
 
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Wednesday, June 21, 2017
  JPY      BoJ Governor Kuroda Speaks 
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  USD      Crude Oil Inventories
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  NZD      RBNZ Interest Rate Decision
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Thursday, June 22, 2017
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