03/15/2017 Live Update

[Cobra]

hopefully it's a rising wedge.

[Trades with cats]

Pasta Boss- The spouse is always the last to know Bloomberg looking at the overall number and finding someone to say the bottom could be in. Sorry, that doesn't explain lipstick on his collar even if it does give Da Boyz an excuse to squeeze the oily stocks a tad higher.

Cushing OK was UP 2 million barrels, i.e. a stuffed full VLCC tanker. Much bigger move than the last couple of weeks. Overall down a half million and it was all in the imports. Thats two to four tankers, depending on the size. So a couple of boats from the middle east less than the prior and the West African cargoes didn't fill the gap. The guy from Clipper Data told Becky Quick this morning that they see no real decrease in loadings by OPEC, so at this point one week does not a trend make.

If the Saudi threat to OPEC this week (we may give up on the freeze) isn't taken seriously then the US Shale companies are in serious trouble. All the claims that "some" can be "profitable" at $30 may be factually correct but an overall miss-statement. Costs are going up and as production increases they are going to run out of those low cost high production sweet spots. Then there is the amazing advances in technology. It appears they have succeeded in shortening the lifetime of the world's shortest lived wells and may be literally draining entire basins at a rate that will make them played out in a handful of years instead of a handful of decades.

So while OPEC may have underestimated how quickly the US Shale industry can turn it back on the investing public could be easily misled by Wall Street as to how long the current boom will last. At least with SNAP you actually knew what you were getting.

[Cobra]

forgot about rising wedge, this bull may have legs.

[Cobra]

might pullback here first though. the pullback will be bought.

[Al_Dente]

thanks cats
Also:
NY advancing stocks = 3.5 x declining stocks
NY advancing volume = 5.3 x declining volume

[Cobra]

members only update at 12:50 pm
http://www.cobrasmarketview.com/2017/03 ... ay-update/

[Al_Dente]

[Trades with cats]

25 minutes of warnings before the Tower of Terror elevator ride down. And it stopped well north of VWAP. Fun to see if the new top gets taken out by the Algos after they read the embargoed press release.

[Al_Dente]

Preparing for HAPPY HOUR
https://www.youtube.com/watch?v=__Vd1i10FqU

[Al_Dente]

does she have a press conference today ?

[te_fern]

does she have a press conference today ?

According to http://mam.econoday.com/, she does at 2:30...

[brokebybernacke2]

vix not break below that 50ma

[Cobra]

show time about to start.

[Al_Dente]

does she have a press conference today ?

According to http://mam.econoday.com/, she does at 2:30...

thanks boss
Fed hikes 0.25%

[Cobra]

wow, must be very good news to increase the rate.

[Al_Dente]

KASHKARI DISSENTS
FOMC Sees Longer-Run Median Fed Funds Rate at 3.0%
Median Fed Official Forecasts Two More Rate Hikes In 2017

[Trades with cats]

Ding Ding Ding winner winner chicken dinner. The 3% was the magic number.

[fehro]

RUT nears 50d SMA just 0.80 short at 1375.96… IWM >50d… mind the minor H&S on DXY USdollar 30m… could get a shocker down move on it.. near 20d/50d… oil and gold "could" pop up huge.

DXY D/30m

buckle up on the dollar.. near neckline.. not sure if the "drop" if it comes is a "pre" FOMC head fake.

ding ding target tagged plus some.. nice move on /GC

[Trades with cats]

For the presser
"A hawkish view from Yellen could be along the lines of 'shrinking the balance sheet may be deliberated later this year' — potentially causing the curve to steepen. A dovish tone would be 'will not be under consideration until next year' — likely meaning a flatter curve."

Written statement with 3% target and shorter term targets staying where they were is viewed as dovish. Need to hear confirmation from the presser.

[Al_Dente]

$SOX semis fresh ATH