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Why Did This Man Approach A Florida Inspection Station With One Ton Of Cannabis Neatly Packed In A U-Haul?

Authorities in Florida watched as a Michigan man failed to stop and enter Agricultural Interdiction Station 6A and submit for inspection of his moving truck. The man apparently thought it best to keep his cargo concealed. But that was not going to happen. read more.....»»

Category: blogSource: BENZINGA20 min. ago Related News

Bitcoin, Ethereum, Dogecoin Spike As Equities, Dollar Weaken: Is It Time For A Crypto Relief Rally?

Bitcoin, Ethereum, and other major coins rose Thursday evening as fears of a bear market in equities and a weaker dollar increased the appeal of the apex coin. The global cryptocurrency market cap rose 4.8% to $1.3 trillion. read more.....»»

Category: blogSource: BENZINGA1 hr. 48 min. ago Related News

Elon Musk Engaged In Sexual Misconduct With SpaceX Flight Attendant, Company Paid $250,000 In Settlement: Report

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk's SpaceX paid a flight attendant $250,000 to settle a sexual misconduct claim against the billionaire entrepreneur in 2018,  Business Insider read more.....»»

Category: blogSource: BENZINGA1 hr. 48 min. ago Related News

Veritas Farms Launches New Full Spectrum CBD Functional Product Line

Veritas Farms, Inc. (OTCQB: VFRM) launched new purpose-built product line designed to target a wide variety of common health conditions, supported with additional dietary supplements. read more.....»»

Category: blogSource: BENZINGA1 hr. 48 min. ago Related News

Firebird Delivery Launches Across Ontario, Including Rush Delivery

Fire & Flower Holdings Corp. (OTCQX: FFLWF) (TSX:FAF) launched Firebird Delivery in Toronto, Kingston, London, Ottawa, Oshawa, Guelph, and North Bay, Ontario. read more.....»»

Category: blogSource: BENZINGA1 hr. 48 min. ago Related News

Panaxia Recieves Production License Of Medical Cannabis Products In Malta

Panaxia Global, the controlling owner of Panaxia Malta (operations) Ltd., a global pharma company that develops, manufactures and markets advanced medical cannabis products of pharmaceutical quality, has received an official license from the health authorities in Malta to manufacture finished medical cannabis products. read more.....»»

Category: blogSource: BENZINGA1 hr. 48 min. ago Related News

Verano Opens MÜV Ocala, The Company"s 47th Cannabis Dispensary In Florida

Verano Holdings Corp. (CSE:VRNO) (OTCQX: VRNOF) is opening MÜV Ocala on May 20, the company’s 47th Florida dispensary and 98th nationwide. read more.....»»

Category: blogSource: BENZINGA4 hr. 47 min. ago Related News

Medical Marijuana, Inc. Reports Revenue Of $7.8M For Q1 2022

Medical Marijuana, Inc. (OTCPK:MJNA) released its financial results for the quarter ending March 31, 2022, revealing $7.8 million in net revenue, a 24% increase when compared to the previous quarter. Q1 2022 Financial and Operational Highlights read more.....»»

Category: blogSource: BENZINGA4 hr. 47 min. ago Related News

GBP/USD: Don"t Get Too Comfy With Recent Gains

GBP/USD look headed for its first weekly gain in four weeks moving into late Thursday trading. At the time of writing, the pair was trading up by 2.03% at 1.25089, supported by a broadly weaker US dollar. But a stronger pound this week didn’t relate to any major positive news about the UK economy. On the contrary, economic data from the UK has been a relative disappointment. read more.....»»

Category: blogSource: BENZINGA4 hr. 47 min. ago Related News

Here Are 7 Signs Your Business Needs Custom Software Development

By Amrit Singh read more.....»»

Category: blogSource: BENZINGA4 hr. 47 min. ago Related News

Is Fine Art A Good Investment?

By Eness Global read more.....»»

Category: blogSource: BENZINGA4 hr. 47 min. ago Related News

Why True Capitalism Is the Only Thing That Can Save America — Both Economically and Socially

Americans today are facing one of the worst economic environments we’ve seen in decades, with skyrocketing inflation, supply chain shortages, and the Great Resignation, to name just a few of our current challenges. read more.....»»

Category: blogSource: BENZINGA4 hr. 47 min. ago Related News

How Are The FAANG Stocks Doing? Checking In

One of the major indices, the S&P 500, is down more than 2% for the week. read more.....»»

Category: blogSource: BENZINGA4 hr. 47 min. ago Related News

Equity Markets Update

What a month it has been thus far across all major markets post the Fed decision of hiking 50 basis points. When the Federal Reserve Chairman caught the whole World off guard about not considering increasing interest rates by 75 basis points it came as no surprise that investors and traders alike knew how behind the curve the Federal Reserve has been and continues to be about taming inflation. read more.....»»

Category: blogSource: BENZINGA4 hr. 47 min. ago Related News

Wait, How Many Kids Does Elon Musk Have?

After the Tesla (NASDAQ: TSLA) CEO Elon Musk and Amber Heard (who is currently standing trial in a defamation lawsuit with her ex-husband Johnny Depp) broke up in 2017, he began to date Canadian musician Grimes. read more.....»»

Category: blogSource: BENZINGA4 hr. 47 min. ago Related News

Can Nvidia Bounce Back

Shares of Nvidia Corp (NASDAQ:NVDA) slipped more than 6.8% on Wednesday, to a value of $169.38, during what turned out to be a rather inexorable day on the trading floor. Indeed, every index suffered overall losses with the NASDAQ closing down more than 5%; the Dow Jones Industrial Average and the Standard & Poor’s 500 […] Shares of Nvidia Corp (NASDAQ:NVDA) slipped more than 6.8% on Wednesday, to a value of $169.38, during what turned out to be a rather inexorable day on the trading floor. Indeed, every index suffered overall losses with the NASDAQ closing down more than 5%; the Dow Jones Industrial Average and the Standard & Poor’s 500 each fell 4.04% and 3.57%, respectively. The Dow finished the day at 3,923.68 while the S&P finished at 31,490.07. Trading volume on the day held at 54.1M, which is still 2.4 million below the 56.5 million 50-day average volume. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more NVIDIA Underperforms Even Against Competitors The decline of NVDA stock was among the worst performer in the NASDAQ index. Competitors like Microsoft (MSFT), Intel Corp (INTC), and Texas Instruments (TXN) were all down at the end of the day. Texas Instruments had the smallest drop, of nearly 2.7% to $170.30 while Microsoft saw a 4.55% drop to $254.08. Finally, Intel Corp fell more than 4.6% to $42.35. For Nvidia Corp, though, the day was not a satisfying one. As such, on Wednesday NVDA closed $177.09 below its 52-week high of $346.47 (reached on November 22, 2021). Accordingly, Nvidia shares have slipped as much as 50% from its record high share price of $346, from last year. Currently, the Nvidia share price has a value of $177. Why Nvidia is Struggling Nvidia is probably most commonly known as a manufacturer of graphics processing units (GPUs) that make PC video gaming possible. Unfortunately, a decline in prices for these products could present a near-term risk to one of Nvidia's biggest revenue sources. As a matter of fact, gaming remains the largest segment for the company. Last year, alone, Nvidia's gaming revenue grew by 61% year-over-year, to $12.4 billion. But while the overall growth in this segment is excellent, declining sale prices could put a damper on things. During the pandemic, a microchip shortage shot selling prices for items like upgraded GPUs through the roof. Indeed, prices for both Nvidia's GeForce RTX 30 series and also the Radeon RX 6000 series from Advanced Micro Devices had been on an upward trend throughout all of last year. Since the start of 2022, however, GPU prices started to drop. In addition to this, two major global events have created major obstacles for various industries and including chip makers like Nvidia. For example, China's largest chipmaker, Semiconductor Manufacturing International Co (SMIC) has warned of a massive drop in both smartphones and personal computers. Primarily, SMIC CEO Zhao Haijun notes that COVID lockdowns across China and also the Russian invasion of Ukraine have destroyed demand for approximately 200 million smartphone units. While SMIC and Nvidia are two separate companies (operating in two different countries), SMIC's struggles could easily spell out an equally difficult fate for Nvidia. Indeed, there is a chance that SMIC could be just a microcosm in China for what could become a much larger complication in the global market. This Cloud Has a Silver Lining Finally, some analysts have noted that Nvidia stock is trading at a somewhat attractive price-to-earnings ratio of 31.5. More importantly, perhaps, some analysts also expect Nvidia to grow its earnings at a 30% compound annual rate across the next half a decade. On top of this, the market anticipates that Nvidia will deliver a YOY increase in earnings on notably higher revenues when it releases its Q1 2022 earnings report. With the first quarter ending in April, Nvidia is expected to release its new earnings report on May 25, 2022. If the key numbers in the report are better than analysts expected, the stock could see a bump in value. Of course, that also means the stock could slip even further if the numbers fail to meet expectations. That said, analysts do expect the gaming and artificial intelligence graphics chip maker will post quarterly earnings upwards of $1.30 per share in that coming report. This incline represents a positive YOY change of 41.3%. Similarly, revenue is expected to reach $8.12 billion, which would be a YOY increase of 43.4% on the quarter. All this in mind, analysts are a bit cautious about Nvidia stock for the time being. For those who may be interested in acquiring a few shares, it may be best to wait til the end of the month, after the release of their earnings report, to be certain it will move favorably towards the end of the year. NVIDIA is a part of the Entrepreneur Index, which tracks some of the largest publicly traded companies founded and run by entrepreneurs. Should you invest $1,000 in NVIDIA right now? Before you consider NVIDIA, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NVIDIA wasn't on the list. While NVIDIA currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. Article by Keala Miles, MarketBeat Updated on May 19, 2022, 5:18 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: VALUEWALK6 hr. 46 min. ago Related News

A Reversal In The S&P 500 Is Confirmed

Investors Run To Cash, S&P 500 Enters Reversal We recently saw a headline that made us ask “what?!?” because it said an uptrend in the S&P 500 (NYSEARCA:SPY) had been confirmed. Our take on the market is that not only has the near-term downtrend in the S&P 500 been confirmed but that a major reversal […] Investors Run To Cash, S&P 500 Enters Reversal We recently saw a headline that made us ask “what?!?” because it said an uptrend in the S&P 500 (NYSEARCA:SPY) had been confirmed. Our take on the market is that not only has the near-term downtrend in the S&P 500 been confirmed but that a major reversal in the market has been confirmed as well. You can blame it on what you want: Russia’s invasion of Ukraine, inflation, supply chain hurdles, rising rates, the FOMC, or the threat of recession and you would be basically right. The reason for the reversal is because of earnings and all of those other factors play into the S&P 500’s earnings power. We’ve already been tracking a downturn in the outlook for earnings growth, after this week’s reports from the retail sector we think that trend is going to accelerate and bring the entire market down with it. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more The Technical Picture Is Clear, The S&P 500 Is In A Downtrend The S&P 500 has been in a downtrend since hitting the all-time high at the turn of the year. That downtrend was confirmed over the past two weeks when the index broke through a major support level to set a new low and then bounce back to confirm resistance at that level. That level is the 4,100 level and the fall was confirmed by the indicators as well. Both the stochastic and the MACD are showing bearish crossovers that have ample room to run which suggests prices will wallow at current levels or move lower. The scary part of this assessment is that the near-term downtrend is part of a much larger and more powerful price pattern that has also been confirmed.   We’ve been tracking a reversal in the S&P 500 since early in the year. The index made a push to new highs that was met by selling and broke the uptrend that had been in place since the pandemic bottom in 2020. At that time, the question was, is this a trend change from up to sideways or a full reversal in prices and it looked, at least for a while, as if up to sideways was the answer. The problem now is that a Head & Shoulders Reversal pattern has formed and the break to new lows confirms it as such. Price action rebounded from the new low but, as mentioned before, the rebound met resistance at the 4,100 level which just happens to be the neckline of the pattern. Where Does The S&P 500 Go From Here? Where the S&P 500 goes from here is a tough call but the trend is definitely downward. The first targets we get are derived from the near-term downtrend. The most recent downtrend began at the 4,550 level and hit support at 4,100 which gives a magnitude of 450. Subtract 450 from 4,100 to get a target near 3,650. That target is coincident with the market consolidation in early 2021 and a viable target for a rebound or bottom to form. In the short to mid-term, the index could fall a little further based on the magnitude of the Head & Shoulders Pattern itself. That pattern is worth 700 points in movement and could take the index down to the 3,400 level. 3,400 is coincident with the 2020 top and consolidation so another good target for a rebound, relief rally, or bottom. If that doesn’t hold, the next target is near the 2,800 level and the long-term uptrend that we’ve been tracking for the last 13 years. It is our opinion that, unless something changes drastically very soon, the S&P 500 will move down to that level. Should you invest $1,000 in SPDR S&P 500 ETF Trust right now? Before you consider SPDR S&P 500 ETF Trust, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SPDR S&P 500 ETF Trust wasn't on the list. While SPDR S&P 500 ETF Trust currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. Article by Thomas Hughes, MarketBeat Updated on May 19, 2022, 5:28 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: VALUEWALK6 hr. 46 min. ago Related News

Adagio Therapeutics Jumps 629 Ranks To 119th Most Owned Stock On The Platform

Adagio Therapeutics Inc (NASDAQ:ADGI) said it secured manufacturing capacity with third parties to produce its SARS CoV-2 antibody treatment for clinical trials in anticipation of US Food and Drug Administration and other regulations. The Waltham, MA-based clinical-stage biopharmaceutical company focuses on discovering, developing and commercializing antibody-based solutions for infectious diseases with pandemic potential. Adagio has […] Adagio Therapeutics Inc (NASDAQ:ADGI) said it secured manufacturing capacity with third parties to produce its SARS CoV-2 antibody treatment for clinical trials in anticipation of US Food and Drug Administration and other regulations. The Waltham, MA-based clinical-stage biopharmaceutical company focuses on discovering, developing and commercializing antibody-based solutions for infectious diseases with pandemic potential. Adagio has a portfolio of SARS-CoV-2 antibodies, including multiple, non-competing, broadly neutralizing antibodies with distinct binding epitopes, led by ADG20. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Adagio Therapeutics' IPO Adagio has traveled a rough road since its August 2021 $17 initial public offering. The shares debuted with a roughly 25% gain, climbing to $78.82 amid analyst optimism which drove demand. The bubble burst, though, and the shares began a long decline to their current roughly $3 a share. That's an 86% decline from the shares' high. The shares spiked briefly in November when Adagio said ADG20 showed effectiveness against Omicron. Retail investors greeted the news by opening their wallets to buy. Adagio shares climbed 629 positions on the Fintel Retail Ownership leaderboard and currently sit at the 119th spot. We included a chart from ADGI's Retail Ownership page below: Buyers also digested the company's earnings from Friday when the company reported a 93 cents a share loss first quarter loss, a blistering 30 cents below Wall Street analysts' average estimate. Research and Development expenses rose to $92 million, compared to $34 million for the prior year. The firm reported cash and cash equivalents of $532 million on the 31st of March and management expects total cash and equivalents will continue to fund the company into the 2024's second half. The company paused its clinical trials earlier after early results against the Covid 19 omicron variant. Adagio shares carry the risk of many early-stage biotech firms; running out of money. Investors often balk at funding untested product development. However, its current cash balance exceeds its market capitalization and provides an operating cushion and share price support. According to Fintel's Put/Call Ratio for ADGI, which indicates market sentiment for the underlying shares, the stock has a score of 0.42 The Put/Call Ratio shows the total number of disclosed open put option positions divided by the number of open call options. Since puts are generally a bearish bet and calls are a bullish bet, put/call ratios greater than 1 indicate a bearish sentiment, and ratios less than one indicate a bullish sentiment. We a chart of this ratio and how it has behaved over the last three months: Interestingly, the stock also sports a Fintel Short Squeeze Score of 86.61, which places it in the top 5% of our 5,500 screened companies. The Short Squeeze Score uses a sophisticated, multifactor quantitative model that identifies companies with the highest risk of experiencing a short squeeze. The scoring model uses a combination of short interest, float, short borrow fee rates, and other metrics. The number ranges from 0 to 100, with higher numbers indicating a higher risk of a short squeeze relative to its peers and 50 being the average. The consensus analyst rating for the shares is "underweight." Article by Ben Ward, Fintel Updated on May 19, 2022, 4:31 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: VALUEWALK7 hr. 20 min. ago Related News

Don’t Bet On Cheaper Oil, Not Yet Anway

Oil Stockpiles Fall Despite Fear Of Slowing Growth The price for WTI (NYSE:USO) has been trending sideways over the past few months as traders, speculators, hedge funds, and users of oil wrestle with a rapidly changing environment. While the price action has been moving lower over the past few days, we don’t think a top […] Oil Stockpiles Fall Despite Fear Of Slowing Growth The price for WTI (NYSE:USO) has been trending sideways over the past few months as traders, speculators, hedge funds, and users of oil wrestle with a rapidly changing environment. While the price action has been moving lower over the past few days, we don’t think a top has been reached in this market. Rising oil prices are having an impact on demand but systemic demand for fuel and petrochemicals remains high. A recession, if it comes, may not produce lower energy prices simply because we expect labor markets to remain tight due to the massive shortfall of available employees. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more  The EIA is forecasting supply and demand to run very tight over the next 6 months and there are numerous risks to the outlook. To start, the EU is not only pushing to ban imports of Russian oil and gas but Russia's claims it would sell its oil to “other” parties is without merit. If the EU follows through on the latest proposal, there will be a total ban on Russian oil in 6 months' time. At the same time, COVID restrictions in China and, more importantly, the key manufacturing hub of Shanghai, are expected to ease beginning June 1st and that will boost demand in an already tight supply/demand environment. US Energy Stockpiles Decline In the US, energy stockpiles are already in decline and moving lower. The latest data shows that crude and gas inventories fell again versus expectations for increases and we don’t see the trend changing. Diesel fuel and distillate stockpiles rose but not enough to make up the shortfall in the WTI data and distillate stockpiles are at the lowest level since 2005. Not even counting the demand for fuel on the road today, refinery demand to rebuild those stockpiles will be a powerful tailwind for oil prices. Releasing the Strategic Petroleum Reserve is not helping the situation either. Total US stockpiles, including the SPR, are at 12-year lows due to the release of the SPR. The SPR itself is at the lowest level since the late 80s and will provide another tailwind to price action when it gets replenished. The takeaway is that energy reserves are well below average and in need of replenishment. Because demand is expected to match output for the foreseeable future the replenishment of stockpiles is an unlikely event. The Technical Outlook: WTI Is Waiting To Pop The price action in WTI has been sideways over the past few months but the bias is definitely upward. Not only has WTI confirmed support above the previous high but support is moving higher and new highs were recently set within the range. The indicators are also bullish showing a series of small but strengthening MACD peaks and higher lows in the stochastic. Price action may fall in the near term due to easing fears or fear of slacking demand but these pullbacks should be viewed as buying opportunities at this time. It is our opinion that energy markets are tight and traders are waiting for the next bad headline to cross the wire. The weekly chart is equally biased and to the upside. While price action pulled back from the March peak it found support above $97 and has since built a nice base. The indicators also pulled back which is evidence of a cooling market but that is consistent with consolidation within a bull market. The indicators at this level have already rolled over into bullish crossovers that, at the very least, confirm support at the previous high. At best, the bullish crossovers in WTI are trend following signals that will have price action back to the all-time high fairly soon. Article by Thomas Hughes, MarketBeat Updated on May 19, 2022, 4:54 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: VALUEWALK7 hr. 20 min. ago Related News

Read Why Pfizer Is Limiting Supply Of Paxlovid For Combination Studies: Bloomberg

read more.....»»

Category: blogSource: BENZINGA8 hr. 3 min. ago Related News