I bought gas instead, which is also having a nice day. I did take both your NVDA and BABA trades, figuring they would not disappoint both (as both reported earnings). NVDA came out yesterday after the close and it traded at some point 12% down during after hours! But it completely recovered this morning. BABA was good. Nice!
Gary May 26, 2022
After my spec trying to game TWTR and its big mouth would-be acquirer didn’t work I saw BABA sitting there saying ‘take me for a twirl!’. I just felt that it has had enough of a battering and is now a value. But bottom feeds are challenging because the trend is usually down.
Was prepared for NVDA to disappoint, so today is a pleasant surprise.
As for gas, you’re a braver man than I. :-)
Fredrik (subber) May 26, 2022
Keep it simple Gary. This is what happens to a commodity after 7 years of underinvestment.
Near term we have driving season, China reopening and Russian decline in output due to its henious war.
Shale saved the oil price ten years ago and that won’t happen again.
Look at inventories for oil, gas and coal. All bullish.
Gary May 26, 2022
Good points sir.
Fredrik (subber) May 26, 2022
We are in the early stages of a global energy crisis. HH gas at 9 bucks in May. Biden is desperately emptying the SPR to keep WTI below 150. Bringing new major production online is several years away and there are bottlenecks such as capital, people, equipment and strong ESG sentiment against the sector.
Anonymous May 26, 2022
I learned the painful lesson of contango in natural gas during the last commodity cycle as it turned. Dennis Gartman’s getting back in the game, which tells me the commodity super cycle is upon us.
Gary May 26, 2022
Are you saying that Gartman involved is a *good* thing??
I bought gas instead, which is also having a nice day. I did take both your NVDA and BABA trades, figuring they would not disappoint both (as both reported earnings). NVDA came out yesterday after the close and it traded at some point 12% down during after hours! But it completely recovered this morning. BABA was good. Nice!
After my spec trying to game TWTR and its big mouth would-be acquirer didn’t work I saw BABA sitting there saying ‘take me for a twirl!’. I just felt that it has had enough of a battering and is now a value. But bottom feeds are challenging because the trend is usually down.
Was prepared for NVDA to disappoint, so today is a pleasant surprise.
As for gas, you’re a braver man than I. :-)
Keep it simple Gary. This is what happens to a commodity after 7 years of underinvestment.
Near term we have driving season, China reopening and Russian decline in output due to its henious war.
Shale saved the oil price ten years ago and that won’t happen again.
Look at inventories for oil, gas and coal. All bullish.
Good points sir.
We are in the early stages of a global energy crisis. HH gas at 9 bucks in May. Biden is desperately emptying the SPR to keep WTI below 150. Bringing new major production online is several years away and there are bottlenecks such as capital, people, equipment and strong ESG sentiment against the sector.
I learned the painful lesson of contango in natural gas during the last commodity cycle as it turned. Dennis Gartman’s getting back in the game, which tells me the commodity super cycle is upon us.
Are you saying that Gartman involved is a *good* thing??