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The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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December 01, 2024

Energy Service Update

Weekend 12/1/2024

Here are weekly charts for RIG and PTEN, So far so good

RIG

Screenshot 2024-12-01 at 11.40.21 AM

PTEN

Screenshot 2024-12-01 at 11.40.35 AM

Trump is given to wild claims and observations. One is that he will cut the price of oil in half. That would be a disaster for oil companies everywhere. Cost of production is in the low 60s.

Achieving more production from Big Oil will be difficult as they are not making that much money now.

Apache has been more than cut in half, trading a t 1.6X book value

Screenshot 2024-12-01 at 12.18.24 PM

If 20 does not hold next support is 15

Bonds are in a  counter trend rally to the upside.

Gold looks to have completed an A down and B up of and ABC Correction.

Silver always lagging gold has completed an A down.

We are n a full blown mania for stocks, the HYG junk bond shows no signs of slowing, so that is the trend for the time being.

 

 

Posted at 01:23 PM in Bonds, Elliott Wave, Energy, Gold Silver |

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