Chris Forte’s Thoughts to Start the Day – Energy

Posted on April 6, 2022 by Scott Shuda

Wednesday, April 6 – A few thoughts to start the day. . .Remember the Seinfeld storyline “Even Steven” where Jerry kept breaking even? Yesterday our Monday winners seemed to retreat about the same that they had gained the day before. That’s how it goes lately. Which reminds me, you know what I often wonder? How does it feel to be a Federal Reserve member and make a remark that sends the markets into a tizzy? You say a few sentences and folks make or lose billions and billions of dollars. Truly, how does that feel?

 

All I know is yesterday it didn’t FEEL good after Federal Reserve Governor Lael Brainard hinted policymakers were ready to aggressively rein in inflation. It led to 3 to 1 decliners vs advancers. Nope, that did not feel good to me or to Even Steven. Worse, my investor sense thinks today won’t feel good either. . . Speaking of weighty words, JPMorgan Jamie Dimon noted the strength of the economy and “plentiful jobs with wage increases and more than $2T in excess savings.” He said consumers are in “excellent financial shape, and leverage among the lowest on record.”

 

On the Breakout Investors Feed today we’re full of energy, well, featured articles about energy. Check out, “American PipeLines and Refineries,” “What Price King Coal’s Return to Europe?”, and “Buy the Dip in Commodities” which suggests getting long energy. Remember, technology and energy have been moving inversely so if you’re looking for a hedge read the Feed . . In CF Room, PERI, which knocked prelim numbers out of the park on Monday pulled back 2%. I’m very long PERI and eager to add more . . . Comeback special: Tiger Woods says he’s playing in the Masters. So much for me getting things done this weekend. . . Barack Obama visited the White House. “It was fun to see the former president at the White House. Obama felt like a guy who was visiting his old high school, and Biden was like the old gym teacher who never left.” — JIMMY FALLON . . .Good luck to all.

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