March 19, 2019

Global Market Comments
March 19, 2019
Fiat Lux

Featured Trade:

(TURBULENCE AT BOEING), (BA),
(AN AFTERNOON WITH BOONE PICKENS)

An Afternoon with Boone Pickens

Reformed oil man, repenting sinner, and borne again environmentalist T. Boone Pickens says that “When we turn the US green, it will have the best economy ever.”

I met the spry, homespun billionaire at San Francisco’s Mark Hopkins on a leg of his self-financed national campaign to get America to kick its dangerous dependence on foreign oil imports.

For the past 30 years, the US has had no energy policy because “no one wanted to kick a sleeping dog” while oil was cheap. Production at Mexico’s main Cantrell field is collapsing and will force that country to become a net importer in five years. Venezuela is in free fall.

Unfortunately, unstable energy prices and the disappearance of credit have put alternative energy development on a back burner. If the US doesn’t make the right investments now, our energy dependence will simply shift from one self-interested foreign supplier (Saudi Arabia) to another (China).

Wind and solar alone won’t work on still nights and can’t power an 18-wheeler. Don’t count on the help of the big oil companies because they get 81% of their earnings from selling imported oil, and don’t want to kill the goose that laid the golden egg. The answer is a diverse blend of multiple alternative energy supplies from American-only sources.

Boone has donated $700 million to charity during his lifetime and says the 20,000 trees he has planted should offset the carbon footprint of his Gulfstream V private jet.

I worked with Boone to organize financing for a Mesa Petroleum Pac Man oil company takeover in the early eighties when it was cheaper to drill for oil on the floor of the New York Stock Exchange than in the field. Now soon to turn 91, he has not slowed down a nanosecond.

 

90 and Still Sharp as a Tack

Quote of the Day - March 19, 2019

“The VIX right here is unsustainably low. I think China has more of a downside surprise. Analyst expectations for earnings are overly aggressive. There are just a few too many things that can go wrong out there,” said Vadim Zlotnikov, chief market strategist at Alliance Bernstein.

March 18, 2019

Global Market Comments
March 18, 2019
Fiat Lux

Featured Trade:

(MARKET OUTLOOK FOR THE WEEK AHEAD, OR A STIFF DOSE OF HUMILITY),
(FCX), (AAPL), (IWM), (SPY), (BA), (FXI), (FXB)

Testimonial

Hi John,

I wanted to thank you for a trade idea you inspired me to take based on your BA commentary and your trading methodology.  I placed a 22 March $340-$350 Vertical Bull Call spread on BA yesterday.  Unless there is some catastrophic news in the next week, I should make $1570.  

Best regards,

Robert
Oregon

Quote of the Day - March 18, 2019

“The bubble is in the bond market, not the stock market”, said Leon Cooperman, CEO of Omega Advisors, an original investor in my 1990’s hedge fund.

March 15, 2019

Global Market Comments
March 15, 2019
Fiat Lux

Featured Trade:

(BUY JOHNSON & JOHNSON ON THE BAD NEWS),
(JNJ), ($INDU), (PFE), (NVS), (AZN)

Quote of the Day - March 15, 2019

“The bubble is in the bond market, not the stock market” said Leon Cooperman, CEO of Omega Advisors, an original investor in my 1990’s hedge fund.

 

Quote of the Day - March 15, 2019

“The bubble is in the bond market, not the stock market”, said Leon Cooperman, CEO of Omega Advisors, an original investor in my 1990’s hedge fund.

 

March 14, 2019

Global Market Comments
March 14, 2019
Fiat Lux

Featured Trade:

(LEARN MORE ABOUT ME THAN YOU PROBABLY WANT TO KNOW),
(GOOG), (AMZN), (AMGN)