Energy and Resources Investor

2011-10-20T07:54:00.000-07:00

It is being speculated that the draft below is what is being considered by the Europeans. I have not checked its veracity, but if it is true, watch out!

EUROSUMMIT STATEMENT

DRAFT

Overthe last three years, we have taken unprecedented steps to combat the effectsof the world-wide financial crisis, both in the European Union as such andwithin the euro area. The strategy we have put into place encompassesdetermined efforts to ensure fiscal consolidation as well as growth, support tocountries in difficulty, and a strengthening of euro area governance. At our 21July meeting we took a set of major decisions. The ratification by all 17Member States of the euro area of the measures related to the EFSFsignificantly strengthen our capacity to react to the crisis.

Theagreement on a strong legislative package within the EU structures on bettereconomic governance represents another major achievement. The euro continues torest on solid fundamentals. The crisis is, however, far from over, as shown bythe volatility of sovereign and corporate debt markets. Further action isneeded to restore confidence. That is why today we agree on additional measuresreflecting our strong determination to do whatever is required to overcome thepresent difficulties.

1. Sustainable public finances andstructural reforms for growth

The European Union must improve its growth and employment outlook. Wesupport the growth agenda agreed by today's European Council. We reiterate ourfull commitment to implement the country specific recommendations made underthe first European Semester and on focusing public spending on growth areas.

All Member States are determined to continue their policy offiscal consolidation and structural reforms. A particular effort will berequired of those Member states who are experiencing tensions in sovereign debtmarkets. [In this context, we welcome the specific commitments made by Italyand Spain]

Concerning the programme countries, we are pleased with theprogress made by Ireland in the implementation of its adjustment programmewhich is delivering positive results. Portugal is also making good progress withits programme. We invite both countries to keep up their efforts and to stickto the agreed targets.

We want to reiterate our determination to continue toprovide support to all countries under programmes until they have regainedmarket access, provided they fully implement those programmes.

[pm strengthening of the monitoring of the Greek program]

[We welcome the decision by the Eurogroup on thedisbursement of the 6th tranche of the EU-IMF support programme subject to theadoption of the prior actions agreed with the Greek government. We look forwardto the conclusion of a sustainable and credible new EU-IMF multiannualprogramme by the end of November]

[ pm: PSI to be prepared by the Eurogroup]

We reaffirm clearly our unequivocal commitment that privatesector involvement is and will continue to be an exceptional solution applyingonly to Greece, as its unique condition requires a unique solution.

All other euro area Member States solemnly reaffirm their inflexibledetermination to honour fully their own individual sovereign signature and alltheir commitments to sustainable fiscal conditions and structural reforms. Theeuro area Heads of State or Government fully support this determination as thecredibility of all their sovereign signatures is a decisive element forensuring financial stability in the euro area as a whole.

2. Stabilisation mechanisms

The ratification process of the revised EFSF has now beencompleted in all euro area Member States [and the Eurogroup has agreed on theimplementing guidelines]. The decisions we took concerning the EFSF on 21 Julyare thus fully operational. All tools available will be used in an effectiveway to ensure financial stability in the euro area.

[p.m. increasing the efficiency of the EFSF- to be discussedby the Eurogroup]

The ESM treaty will be amended to reflect all the decisionstaken in July, and submitted to national procedures with a view to be enactedas soon as possible and timely before June 2013. To this end, the revised ESMtreaty should be signed by Finance Ministers by the end of November.

[p.m.: full lending capacity of the ESM/ decision making procedures- to be discussed by the Eurogroup]

We fully support the ECB in its action to ensure pricestability in the euro area, including its non-standard measures in the currentexceptional financial market environment.

3. Banking system

[p.m. reinforcement of banking sector to be discussed by theEcofin]

4. Economic and fiscal coordination and surveillance

The recent agreement on the legislative package on economicgovernance (the so-called “six pack”) opens the way to strengthened economicand fiscal policy coordination and surveillance. It will lead to closermonitoring and possibilities of sanctions in the preventive arm, more rapidreactions in case of slippages, more attention given to the debt ratio; andhigher focus on macroeconomic imbalances. We commit ourselves to the strictimplementation of the new set of rules. We call on the Commission and theCouncil to exert rigorous surveillance and to make full use of the existing andnew instruments available. We also recall our commitments made in the frameworkof the Euro Plus Pact.

Being part of a monetary union has far reaching implicationsand implies a much closer coordination and surveillance to ensure stability andsustainability of the whole area. The current crisis shows the need to addressthis much more effectively. Therefore, while we strengthen our crisis toolswithin the euro area, we will make further progress in integrating economic andfiscal policies by reinforcing coordination, surveillance and discipline, whilepreserving the integrity of the European Union as a whole.

More specifically, building on the "six pack", theEuropean semester and the Euro Plus Pact, we as euro area Heads of States orGovernment commit to implement the following additional measures at thenational level:

- adoption by each euro area Member State of a balancedbudget rule translating the Stability and Growth Pact deficit and debt rulesinto national legislation, preferably at constitutional level, by the end of2012;

- reinforcement of national fiscal frameworks beyond theDirective (….). In particular, national budgets should be based on growthforecasts produced independently from the government; in case of consistentupward bias, governments will be required to use the Commission forecasts.

- invitation to national parliaments to commit to take intoaccount recommendations adopted at the EU level on the conduct of nationalpolicies.

- consultation of the Commission and euro area partnersbefore the adoption of any major fiscal or economic policy reform plans, so asto give the possibility for an assessment of possible impact for the euro areaas a whole.

We also agree that closer monitoring at the European levelis warranted along the following lines:

- for euro area Member States in excessive deficit procedureand programme countries, the Commission and the Council will be enabled toexamine national draft budgets before their submission to the nationalparliament, in order to adopt an opinion on these draft budgets, to monitorbudget execution and, if necessary, to suggest amendments in the course of theyear.

- the Eurogroup will be enabled to adopt a recommendationfor a euro area Member State to engage into an adjustment program supported bythe EFSF/ESM;

- in case of slippages of an adjustment program anddifficulties in implementation, structures for closer monitoring andcoordination of programme implementation will be put into place. In thisrespect, we look forward to the Commission's forthcoming proposal on closermonitoring to the Council and the European Parliament under Article 136 of theTFEU.

We will continue to implement the Euro Plus Pact tostrengthen the economic pillar of the EMU and better coordinate economicpolicies. Building on the Pact, we will achieve further convergence of policiesto promote growth and employment. Closer coordination in the euro area is alsowarranted in taxation matters which are essential for greater convergence andcoordination of euro area economies. We recall in this context that we are allconstructively engaged in the discussions on the Common Consolidated CorporateTax Base.

5. Governance structure of the euro area

To deal more effectively with the challenges at hand andensure closer integration, our governance structure for the euro area needs tobe strengthened, while preserving the integrity of the European Union as whole.

We will thus meet regularly at our level, in Euro Summits,to provide strategic orientations on the economic and fiscal policies in theeuro area. This will allow to better take into account the euro area dimensionin our domestic policies.

The Eurogroup will, together with the Commission and theECB, remain at the core of the daily management of the euro area. It will playa central role in the implementation by the euro area Member states of theEuropean Semester. It will rely on a stronger preparatory structure. Moredetailed arrangements are presented in the annex to this paper.

6. Further integration

The euro is at the core of our European project. We willstrengthen the economic union to make it commensurate with the monetary union.

We ask President Van Rompuy, in close collaboration withPresident Barroso and President Juncker, and with the help of high-leveltechnical expertise, to identify possible steps to reach this end. The focusshould be on how to further strengthen economic convergence within the euroarea, to improve the effectiveness of enforcement mechanisms, and to deepenfiscal integration.

An interim report will be presented in December 2011 so asto agree on first orientations. A full report, including a roadmap on how toimplement those measures will be finalised by [March/June] 2012, in fullrespect of the prerogatives of the institutions. This report will indicate anyissues that require treaty change pursuant to Article 48 of the TEU.

Annex

DRAFT 20-10-11

Ten measures to improve the governance of the Euro area

There is a need to strengthen economic policy coordinationand surveillance within the euro area, to improve the effectiveness of decisionmaking and to ensure more consistent communication. To this end, the followingten measures will be taken, while fully respecting the integrity of the EU as awhole:

1. There will be regular Euro Summit meetings bringingtogether the Heads of State or government (HoSG) of the euro area and thePresident of the Commission. These meetings will take place at least twice a year,at key moments of the annual economic governance circle; they will normallytake place after European Council meetings. Additional meetings can be calle bythe President of the Euro Summit if necessary. Euro Summits will definestrategic orientations for the conduct of economic policies and for increasedconvergence in the euro area. The President of the European Council will ensurethe preparation of the Euro Summit, in close cooperation with the President ofthe Commission, on the basis of the work of the Eurogroup.

2. The President of the Euro Summit will be designated bythe HoSG of the euro area at the same time the European Council elects itsPresident and for the same term of office. Pending the next such election, thepresent President of the European Council will chair the Euro Summit meetings.

3. The President of the Euro summit will keep the non euroarea Member States closely informed of the preparation and outcome of theSummits. The President will also inform the European Parliament of the outcomeof the Euro Summits.

4. As is presently the case, the Eurogroup will ensure evercloser coordination of the economic policies and promoting financial stability.Whilst respecting the powers of the EU institutions in that respect, itpromotes strengthened surveillance of Member States' economic and fiscalpolicies as far as the euro area is concerned. It will also prepare the Eurosummit meetings and ensure their follow up.

5. The President of the Eurogroup is elected in line withProtocol n°14 annexed to the Treaties. A decision on whether he/she should beelected among Members of the Eurogroup or be a full-time President based inBrussels will be taken at the time of the expiry of the mandate of the currentincumbent.

6. The President of the Euro Summit will be consulted on theEurogroup work plan and may invite the President of the Eurogroup to convene ameeting of the Eurogroup, notably to prepare Euro Summits or to follow up onits orientations. The President of the Euro summit will meet regularly, atleast once a month, with the President of the Commission, the President of theEurogroup and the President of the ECB. The Presidents of the supervisoryagencies and the EFSF/ESM chair may be invited on an ad hoc basis. Thesemeetings will be used to establish clear lines of responsibility and reportingbetween the Euro Summit, the Eurogroup and the preparatory bodies.

7. Work at the preparatory level will continue to be carriedout by the Eurogroup Working Group(EWG), drawing on input mainly provided bythe Commission. The EWG also prepares Eurogroup meetings. It should benefitfrom a more permanent sub-group consisting of alternates/officialsrepresentative of the Finance Ministers, meeting more frequently, working underthe authority of the President of the EWG.

8. The EWG will be chaired by a full-time Brussels-basedPresident. He/she should preferably also chair the Economic and FinancialCommittee.

9. The existing administrative structures (i.e. the CouncilGeneral Secretariat and the EFC Secretariat) will be strengthened andco-operate in a well coordinated way to provide adequate support to the Eurosummit President and the President of the Eurogroup, under the guidance of thePresident of the EFC/EWG. External expertise will be drawn upon as appropriate,on an ad hoc basis.

10. Clear rules and mechanisms will be set up to improvecommunication and ensure more consistent messages. The President of the EuroSummit and the President of the Eurogroup have a special responsibility in thisrespect.

2011-10-20T07:23:00.000-07:00

TECHNICAL TRADING ALERTS - 10/20/2011

Bullish Alerts
10-Day/21-day MA Cross:E
Price Up > 5% & Volume > 200%: GLNG
Bullish Up/Down Volume Ratio Slope Reversal: APC CXO EGN TSO

Bearish Alerts
Stochastic Cross: BRY GDP IOC RIG SM SQM

2011-10-19T04:55:00.000-07:00

TECHNICAL TRADING ALERTS - 10/19/2011

Bullish Alerts
10-Day/21-Day MA Cross: D DJ-15 ETR SO XLU
MACD Cross: PEG SO XEL
Up/Down Volume Ratio Reversal: ENB OIL PXD STR USO XEC

Bearish Alerts
None

2011-10-18T03:22:00.000-07:00

TECHNICAL TRADING ALERTS - October 18, 2011

Bullish Signals
10-Day/21-Day MA Cross: AMJ AMLP BEXP CLR CMS EIX EQT HOS RRC
21-Day/50-Day MA Cross: EP
MACD: ED NI
Price Up > 5% & Volume > 200%: BEXP EP KMP
Up/Down Volume Ratio Slope Reversal: EPD GLNG

Bearish Signals
Stochastic Cross: AGU APC CHK CLB CRZO CXO DBA DBC EEP
ESV EXC HLX LINE MOO OIS POT ROSE SFY XOP

Technical Trade Alerts-02.19.2011

2011-02-19T03:30:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: DO RIG
MACD Cross: APC EPD HES NXY REP RIG
Stochastic Cross: ECA

BEARISH ALERTS

10-Day/21-Day Moving Avg. Cross: FCX NFX
MACD Cross: ACI AMSC FCX
Stochastic Cross: CPX RES

Technical Trading Alerts - 02.01.2011

2011-02-02T06:02:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: CCJ CNQ CVE FST MEE RDC

MACD Cross: AA ACI CHK CLD CLR CVX DBC DBO GDP KBR MDR MOS PCX PXD RDC SGY STO TSO VLO WFT

BEARISH ALERTS

Stochastic Cross: OIL USO

FT.com / Comment / Opinion - Stagflationary risks rise from the Arab street

2011-02-01T11:22:00.000-08:00

FT.com / Comment / Opinion - Stagflationary risks rise from the Arab street

Technical Trading Alerts - 01.31.2011

2011-01-31T17:06:00.000-08:00

BULLISH ALERTS

MACD Cross: BEXP CCJ CNQ CVE CXO HES HK LINE MEE NUE NXY POT PXP ROSE RRC SM SWN X XLE XOP

Price Up>5% & Volume >200%: CHK DIG FTO MEE ROSE
Stochastic Cross: FLR
Up/Down Volume Ratio Slope Reversal: HOC

BEARISH ALERTS: None

Heard on the Street: Exxon's Bullish Call on Gas - WSJ.com

2011-01-31T08:21:00.000-08:00

Heard on the Street: Exxon's Bullish Call on Gas - WSJ.com

Technical Trading Alerts - 01.27.2011

2011-01-27T16:56:00.000-08:00

BULLISH ALERTS

MACD Cross: ESV EP HOC X
Price Up >5% & Volume >200%: EP HP

BEARISH ALERTS

Price Down>5% & Volume >200%: MUR

Technical Trading Alerts - 01.26.2011

2011-01-26T17:42:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: BBG HAL
21-Day/50-Day Moving Avg. Cross: IVN
MACD Cross: BBG CAM CRK DIG ERX FLR FTI HAL HP NOV NUE OIH SWN WTI XLE
Price Up >5% & Volume >200%: BHI CRK HAL HOC JEC
Up/Down Volume Ratio Slope Reversal: PWE

BEARISH ALERTS: None

Weekly DOE Crude & Products Inventory Analysis - 01.26.2011

2011-01-26T10:18:00.001-08:00

· Crude build exceeds expectations – Crude oil inventories increased 4.8 mmbbls last week, compared with market expectations for a 1.2 mmbbls build (per Bloomberg). Crude oil inventories are now sitting at 340.6 mmbbls, which is 3.0% above last year and 6.8% above the five-year average.

· Distillates drawn less than expectations – Inventories of distillates decreased 0.1 mmbbls last week, less than market expectations of a 0.5mmbbl decrease (per Bloomberg). Distillate inventories are now sitting at 165.7 mmbbls, which is 5.5% above last year and 16.8% above the five-year average.

· Gasoline inventories in-line expectations – Gasoline inventories increased 2.4 mmbbls last week, compared with market expectations for a 2.3 mmbbls build (per Bloomberg). Inventories of gasoline are now sitting at 230.1 mmbbls, which is 1.2% above last year and 4.3% above the five-year average.

· Refinery utilization falls – Refinery utilization fell to 81.8%, exceeding last year’s level of 78.4%, but below the five-year average of 84.3%.

FT.com / The Commodities note - Commodities daily: Digging into miners’ results

2011-01-26T09:42:00.000-08:00

FT.com / The Commodities note - Commodities daily: Digging into miners’ results

Technical Trading Alerts - 01.26.2011

2011-01-26T06:53:00.000-08:00

BULLISH ALERTS

MACD Cross: ASH BHI
Price Is Up > 5% and Volume Is > 200%: AKS ASH BHI X
Stochastic Cross: CBI DNR
Up/Down Volume Slope Ratio Reversal: ESV TOT

BEARISH ALERTS: None

Technical Trading Alerts - 01.24.2011

2011-01-24T21:30:00.000-08:00

BULLISH ALERTS

MACD Cross: CVX SWN
Price Is Up >5% and the Volume Is >200%: ATPG FSLR FTO HK KOL MOS TCK WOR XME
Up/Down Volume Ratio Slope reversal: NXY

BEARISH ALERTS: None

HEARD ON THE STREET: Optimism Dents Oil Bulls' Hopes - WSJ.com

2011-01-24T13:02:00.000-08:00

HEARD ON THE STREET: Optimism Dents Oil Bulls' Hopes - WSJ.com

Technical Trading Alerts - 01.21.2011

2011-01-23T21:55:00.000-08:00

BULLISH ALERTS

MACD Cross: COG
Stochastic Cross: ETP IPI MON
Up/Down Volume Ratio Slope reversal: FSLR REP

BEARISH ALERTS: None

Heard on the Street: The End of History for Russian Oil - WSJ.com

2011-01-23T17:31:00.000-08:00

Heard on the Street: The End of History for Russian Oil - WSJ.com

Technical Trading Alerts - 01.20.2011

2011-01-20T17:12:00.000-08:00

BULLISH ALERTS

10-Day/21-day Moving Avg. Cross: ATW NUE
Stochastic Cross: ANR CNX CVEKOLWLT
Up/Down Volume Ratio Slope Reversal: EPD

BEARISH ALERTS

10-Day/21-day Moving Avg. Cross: MMR SDRL

Weekly DOE Natural Gas Inventory Analysis - 01.20.2011

2011-01-20T09:10:00.001-08:00

Withdrawal exceeds expectations – The EIA reported a natural gas withdrawal of 243 bcf, exceeding expectations (as per Bloomberg) of 233 bcf. For the comparable week last year, the EIA reported a withdrawal of 245 bcf versus the five-year average withdrawal of 133 bcf. NYMEX natural gas traded up US$0.04 to US$4.60/mcf following the announcement.

Cool weather continues – Over the past week, heating degree days across the U.S. reached 255, exceeding the five-year average of 218 degree days as well as last year’s level of 221. Cooler weather is expected to continue across much of the key U.S. eastern consuming regions which will likely provide support for the commodity at current levels.

Weekly DOE Crude & Products Inventory Analysis - 01.20.2011

2011-01-20T09:02:00.001-08:00

· Crude build counters expectations – Crude oil inventories increased 2.6 mmbbls last week, compared with market expectations for a 0.5 mmbbls draw (per Bloomberg). Crude oil inventories are now sitting at 335.7 mmbbls, which is 1.4% above last year and 5.7% above the five-year average.

· Distillate inventories in line – Inventories of distillates increased 1.0 mmbbls last week, in line with market expectations (per Bloomberg). Distillate inventories are now sitting at 165.8 mmbbls, which is 3.4% above last year and 16.6% above the five-year average.

· Gasoline inventories exceed expectations – Gasoline inventories increased 4.5 mmbbls last week, compared with market expectations for a 2.5 mmbbls build (per Bloomberg). Inventories of gasoline are now sitting at 227.7 mmbbls, which is 1.9% above last year and 5.4% above the five-year average.

· Refinery utilization falls – Refinery utilization fell to 83.0% (was 86.4% the week prior), exceeding last year’s level of 81.3%, but below the five-year average of 85.6%.

FT.com / The Commodities note - Commodities daily: Putting a price on Glencore

2011-01-20T05:38:00.000-08:00

FT.com / The Commodities note - Commodities daily: Putting a price on Glencore

Technical Trading Alerts - 01.19.2011

2011-01-19T20:37:00.000-08:00

BULLISH ALERTS

10-Day/21-day Moving Avg. Cross: DRC SPN
MACD Cross: UPL
Up/Down Volume Ratio Reversal: CLD DNR OKE WMB

BEARISH ALERTS

MACD Cross: RIO
Stochastic Cross: HOS

Technical Trading Alerts 1.11.2011

2011-01-11T16:39:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: HK
MACD Cross: CLR DVN NXY TLM XEC
Price Is Up More Than 5% And Volume Is Greater Than 200%: PCX SHAW
Stochastic Cross: AKS SCCO X XCO
Up/Down Volume Ratio Slope Reversal: APC CNX FST WTI

BEARISH ALERTS: None

Technical Trading Alerts 1.11.2011

2011-01-11T06:33:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: CLR
MACD Cross: DOW RRC
Stochastic Cross: BHP CCJ CNQ NBL RIO
Up/Down Volume Ratio Slope Reversal: CRZO DIG USO

BEARISH ALERTS

MACD Cross: SUN

Technical Trading Alerts 01.06.2011

2011-01-06T18:48:00.000-08:00

BULLISH ALERTS

MACD Cross: FTO TSO
Up/Down Volume Ratio Slope Reversal: ATPG COG CVE

BEARISH ALERTS: None

FT.com / Companies / Oil & Gas - Rising oil price threatens fragile recovery

2011-01-05T22:12:00.000-08:00

FT.com / Companies / Oil & Gas - Rising oil price threatens fragile recovery

Technical Trade Alerts 01.05.2011

2011-01-05T21:08:00.000-08:00

BULLISH ALERTS

MACD Cross: HES HK SE
Up/Down Volume Ratio Reversal: ANR

BEARISH ALERTS: None

Deal Journal: China's Quest for Oil Intensifies - WSJ.com

2011-01-04T12:34:00.000-08:00

Deal Journal: China's Quest for Oil Intensifies - WSJ.com

Israel Sets Steep Rise in Taxes on Oil, Gas - WSJ.com

2011-01-04T12:31:00.000-08:00

Israel Sets Steep Rise in Taxes on Oil, Gas - WSJ.com

$100 oil and $4 gasoline - A continual trend

2011-01-04T11:15:00.000-08:00

$100 oil and $4 gasoline - A continual trend

Technical Trade Alerts 01.03.2011

2011-01-03T20:24:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: NBR PVA SWN
MACD Cross: COG FLR GDP JOYG SWC USO WTI XME XOM

BEARISH ALERTS: None

Technical Trade Alerts

2011-01-02T22:03:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: APC NXY PCL
MACD Cross: NOV RIO
Stochastic Cross: CPX

BEARISH ALERTS

10-Day/21-Day Moving Avg. Cross: ASH
Stochastic Cross: EPD

Heard on the Street: OPEC's Passive-Aggressive Oil-Price Problem - WSJ.com

2011-01-02T21:49:00.000-08:00

Heard on the Street: OPEC's Passive-Aggressive Oil-Price Problem - WSJ.com

HEARD ON THE STREET: Mongolia's Biggest Tests Lie Ahead - WSJ.com

2011-01-02T21:47:00.000-08:00

HEARD ON THE STREET: Mongolia's Biggest Tests Lie Ahead - WSJ.com

HEARD ON THE STREET: China Rate Rise Signals Shift to Slower Growth - WSJ.com

2010-12-29T11:12:00.000-08:00

HEARD ON THE STREET: China Rate Rise Signals Shift to Slower Growth - WSJ.com

Wind’s 2010 Top Ten: Bust and Building, Coming and Going : Greentech Media

2010-12-29T09:54:00.000-08:00

Wind’s 2010 Top Ten: Bust and Building, Coming and Going : Greentech Media

A Lower-Carbon Route to Replacing Oil - NYTimes.com

2010-12-29T09:53:00.001-08:00

A Lower-Carbon Route to Replacing Oil - NYTimes.com

Oil Industry Increases Spending on Search for Energy - WSJ.com

2010-12-29T09:53:00.000-08:00

Oil Industry Increases Spending on Search for Energy - WSJ.com

Expert Says $5 Gas En Route - For What It's Worth - Comcast.net

2010-12-29T08:34:00.000-08:00

Expert Says $5 Gas En Route - For What It's Worth - Comcast.net

Technical Trading Alerts 12.28.2010

2010-12-28T16:40:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross; RRC
21-Day/50-Day Moving Avg. Cross JOE PWE
MACD Cross: SWN

BEARISH ALERTS: None.

FACTBOX-Five facts about rare earth elements | Energy & Oil | Reuters

2010-12-28T11:50:00.000-08:00

FACTBOX-Five facts about rare earth elements | Energy & Oil | Reuters

Technical Trading Alerts 12.22.2010

2010-12-22T17:44:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: CF
MACD Cross: ANR ATPG CNQ CNX DVN ERF FTO PCX PXD VALE XCO XOP

BEARISH ALERTS: None

DOE Crude Oil & Products Inventory Report Analysis 12.22.2010

2010-12-22T10:07:00.000-08:00

· Larger than expected crude inventory draw – Crude oil inventories decreased 5.3 mmbbls last week, compared with market expectations for a 3.4 mmbbls draw (per Bloomberg). Crude oil inventories are now sitting at 340.7 mmbbls, which is 4.0% above last year and 7.6% above the five-year average.

· Distillate draw exceed expectations – Inventories of distillates decreased 0.6 mmbbls last week, compared with flat market expectations (per Bloomberg). Distillate inventories are now sitting at 160.7 mmbbls, which is 0.4% below last year, but 17.6% above the five-year average.

· Gasoline inventory build higher than expected – Gasoline inventories rose 2.4 mmbbls last week, compared with market expectations for a 1.5 mmbbls build (per Bloomberg). Inventories of gasoline are now sitting at 217.2 mmbbls, which is 0.4% above last year and 4.8% above the five-year average.

· Refinery utilization largely unchanged – Refinery utilization remained largely unchanged last week at 87.7% (was 88.0% the week prior), but remains 7.7% above last year and 1.2% above the five-year average.

Technical Trading Alerts - 12.21.2010

2010-12-22T07:03:00.000-08:00

BULLISH ALERTS

21-Day/50-Day Moving Avg. Cross: MRO
MACD Cross: ACI BHP CRZO CVE DIG FST JRCC NBL SE SM TSO USO WLL
Stochastic Cross: WTI

BEARISH ALERTS: None

Technical Trading Alerts 12.21.2010

2010-12-21T06:32:00.000-08:00

BULLISH ALERTS

21-Day/50-Day Moving Avg. Cross: STO
MACD Cross: CF MOO VLO
Price Is Up > 5% and Volume Is > 200%: CHK
Stochastic Cross: NBR PVA RIG SGY
UP/Down Slope Ratio Reversal: FST NBL TLM

BEARISH ALERTS: None.

Top Picks in Coal - Barrons.com

2010-12-20T12:21:00.000-08:00

Top Picks in Coal - Barrons.com

Commodities Likely to earn Their Keep in the Coming Year

2010-12-20T07:13:00.001-08:00

From Financial Times http://www.ft.com/cms/s/0/aa92b884-087d-11e0-80d9-00144feabdc0.html

Technical Trading Alerts 12.17.2010

2010-12-17T07:09:00.000-08:00

BULLISH ALERTS

21-Day/50-Day Moving Avg. Cross: CHK
MACD Cross: CBI XEC
Stochastic Cross: CPX HK PTEN UPL WTI
Up/Down Volume Ratio Reversal: BHP COP CVX FWLT NBR SU

BEARISH ALERTS: None

Weekly DOE Natural Gas Inventory Analysis - 12.16.2010

2010-12-16T10:18:00.000-08:00

Withdrawal in line with expectations – The EIA reported a natural gas withdrawal of 164 bcf, right in line with expectations (as per Bloomberg) of 165 bcf. For the comparable week last year, the storage withdrawal was 185 bcf with the five-year average withdrawal at 153 bcf.

Storage levels tracking 2009 – The 164 bcf withdrawal this week puts us only 35 bcf below storage levels set in late December 2009. Total storage levels now sit at 3,561 bcf, still well above the five-year average of 3,240 bcf.

Warmer weather forecast – The National Weather Service is predicting milder temperatures for key consuming regions of the United States.

Oil Futures Increase After Crude Inventories Drop the Most in Eight Years - Bloomberg

2010-12-15T11:13:00.000-08:00

Oil Futures Increase After Crude Inventories Drop the Most in Eight Years - Bloomberg

Fertilizer Inventory Analysis 12.15.10

2010-12-15T08:32:00.001-08:00

Both PotashCorp and Agrium provided monthly market report updates last evening outlining inventory and pricing data for fertilizer nutrients in North America. While potash and urea inventories increased from October levels, ending inventories for both crop nutrients remained well below historical levels. On the phosphates front, DAP and MAP inventories continued to decline falling significantly below historical levels. Highlights from the report include:

Potash:

§ North American ending inventory in November increased by 182,000t from October (an increase of around 13%) however, potash inventory was still down approximately 22% when compared to the five year average.

Urea:

§ North American urea inventories climbed 47,000t from the previous month, but were still approximately 13% below the 5 year average inventory level.

DAP/MAP:

§ DAP/MAP inventories tightened in November dropping 17% from already record lows in October. Inventories were 39% below levels in November 2009, and trail the 5 year average by approximately 50%.

§ DAP inventories made up the bulk of the drop and now sit 57% below the 5 year average, while MAP inventories are 39% below the 5 year average.

Argus Media :: News Story

2010-12-15T07:56:00.000-08:00

Gas Surpassing US Coal Power Generation Argus Media :: News Story

Does China Face a 'Peak Coal' Threat? - NYTimes.com

2010-12-15T07:49:00.000-08:00

Does China Face a 'Peak Coal' Threat? - NYTimes.com

Technical Trading Alerts 12.14.2010

2010-12-14T19:04:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: PWE
Stochastic Cross: ANR EOG IOC WTI
Up/Down Ratio Slope Reversal: ATPG DBA

BEARISH ALERTS: None

FT.com / Commodities - Global boom in commodities capex

2010-12-14T12:46:00.000-08:00

FT.com / Commodities - Global boom in commodities capex

FT.com / Companies / Mining - Boost for suppliers as miners dig deep

2010-12-14T12:40:00.000-08:00

FT.com / Companies / Mining - Boost for suppliers as miners dig deep

Technical Trading alerts 12.13.2010

2010-12-13T20:14:00.000-08:00

BULLISH ALERTS

MACD Cross: HP JOYG PWE
Price Is Up >5% & Volume Is >200%: FST GDP
Stochastic Cross: CRK ERF SWN
Up/Down Volume Ratio Reversal: BLL NXY

BEARISH ALERTS

Price Is Down >5% & Volume Is >200%: AMSC

Shale gas supply expected to keep US prices low in 2011 - Oil & Gas Journal

2010-12-13T07:59:00.000-08:00

Shale gas supply expected to keep US prices low in 2011 - Oil & Gas Journal

US shale and unconventional activity continues to push rig counts higher

2010-12-13T06:01:00.000-08:00

US shale and unconventional activity continues to push rig counts higher

OPEC set for no change despite $90 oil | Energy & Oil | Reuters

2010-12-10T09:35:00.000-08:00

OPEC set for no change despite $90 oil | Energy & Oil | Reuters

DOE Natural Gas Storage Analysis 12.09.10

2010-12-09T10:36:00.000-08:00

Withdrawal slightly greater than expectations – The EIA reported a natural gas withdrawal of 89 bcf, in line with expectations (as per Bloomberg) for a 85 bcf withdrawal and the five-year average withdrawal of 90 bcf. For the comparable week last year, the EIA reported a withdrawal of 64 bcf.

Storage levels still near record highs – Total storage now sits at 3,725 bcf, or 1.5% below last year’s levels for the comparable week of 3,781 bcf, and 9.8% above the five-year average of 3,393 bcf.

Estimate surprises – As expected, price movements have largely been related to estimate surprises but the negative correlation is not perfect given other external factors such as weather, which weigh-in.

Technical Trading Alerts 12/08/2010

2010-12-08T21:38:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: ATW NXY TS URS XOM

BEARISH ALERTS

10-Day/21-Day Moving Avg. Cross: PNY POT
Stochastic Cross: MMR

Oil demand back to pre-recession peaks - WoodMac | Energy & Oil | Reuters

2010-12-08T10:54:00.000-08:00

Oil demand back to pre-recession peaks - WoodMac | Energy & Oil | Reuters

Investors Pile Into Commodities - WSJ.com

2010-12-08T06:14:00.000-08:00

Investors Pile Into Commodities - WSJ.com

Oil Industry Urged to Transform Approach to Safety - WSJ.com

2010-12-08T06:08:00.000-08:00

Oil Industry Urged to Transform Approach to Safety - WSJ.com

FT.com / Companies / Oil & Gas - US independents to buy into shale oil boom

2010-12-07T21:15:00.000-08:00

FT.com / Companies / Oil & Gas - US independents to buy into shale oil boom

FT.com / Commodities - Crude oil tipped to bubble over $100 a barrel

2010-12-07T21:08:00.000-08:00

FT.com / Commodities - Crude oil tipped to bubble over $100 a barrel

Technical Trading alerts 12.7.2010

2010-12-07T19:38:00.000-08:00

BULLISH ALERTS

10-Day/21-day Moving avg. Cross: COP DNR SU VALE
MACD Cross: ATW BBL BP PDE SCCO UPL

BEARISH ALERTS

Stochastic Cross: E REP

EIA Short-Term Energy Outlook Summary

2010-12-07T10:02:00.000-08:00

Lowers 2011 world oil demand growth by 10K bpd, to +1.43M bpd y/y; sees US 2011 natural gas production +2%.
Expects the price of West Texas Intermediate (WTI) crude oil to average about $84 per barrel this winter (October 1 to March 31), more than $6 higher than the average price last winter. Projected WTI prices rise to $89 per barrel by the end of 2011, a $2 per barrel increase from last month's Outlook, as U.S. and global economic conditions improve. EIA's forecast assumes U.S. real gross domestic product (GDP) grows 2.7 percent in 2010 and 2.1 percent in 2011, while world real GDP (weighted by oil consumption) grows by 4.0 percent and 3.2 percent, in 2010 and 2011, respectively.
Expects regular-grade motor gasoline retail prices to average $2.88 per gallon this winter, 22 cents per gallon higher than last winter. Projected retail diesel fuel prices average $3.14 per gallon this winter, an increase of 35 cents per gallon over last winter, while residential heating oil prices average $3.17 per gallon this winter. In 2011, higher crude oil prices combined with higher refiner margins push annual average prices for motor gasoline and diesel fuel to $3.00 and $3.23 per gallon, respectively.
Natural gas working inventories end November 2010 at 3.8 trillion cubic feet (Tcf), slightly less than last year's record-setting end-of-November level. The projected Henry Hub natural gas spot price averages $4.37 per million Btu (MMBtu) for 2010, a $0.42-per-MMBtu increase over the 2009 average. EIA expects the Henry Hub spot price to average $4.33 per MMBtu in 2011.
OPEC crude oil production will increase by 0.3 and 0.4 million bbl/d in 2010 and 2011, respectively, similar to last month's Outlook, to accommodate increasing world oil consumption. Projected non-crude liquids increase by 0.7 million bbl/d in both 2010 and 2011. OPEC surplus capacity should remain close to 5 million bbl/d, compared with 4.3 million in 2009 and 1.5 million in 2008.
Non-OPEC Supply will grow by just over 1.0 million bbl/d to an average 51.5 million bbl/d in 2010 - the largest year-over-year increase since 2002. The increase in total non-OPEC supply for the year is the result of higher production in the United States, Brazil, China, and Russia. However, non-OPEC supply falls by 280,000 bbl/d in 2011. The decline in non-OPEC supply in 2011 would be only the third time in the last 15 years that non-OPEC supplies fall year-over-year.
Projected total U.S. liquid fuels consumption increases by 320,000 bbl/d (1.7 percent) to 19.09 million bbl/d in 2010, which is about 60,000 bbl/d higher than forecast in last month's Outlook. A year-over-year decline in total liquid fuels consumption averaging 40,000 bbl/d in the first quarter of 2010 was followed by a year-over-year rise averaging 610,000 bbl/d in the second and third quarters, led by increases in motor gasoline and distillate fuel oil consumption.
Domestic crude oil production, which increased by 410,000 bbl/d in 2009, increases by 140,000 bbl/d in 2010 and then falls by 30,000 bbl/d to 5.47 million bbl/d in 2011. The 2011 forecast includes declines of 50,000 bbl/d and 180,000 bbl/d in Alaska and the Federal Gulf of Mexico (GOM), respectively, and a 190,000-bbl/d increase in lower-48 non-GOM production. Ethanol production, which averaged 710,000 bbl/d in 2009, increases to an average of 860,000 bbl/d in 2010 and 890,000 bbl/d in 2011.
This month's Outlook, for the first time, reflects recent changes in the Form EIA-857 monthly natural gas survey methodology in the forecasts for residential and commercial natural gas consumption. The new survey methodology should not significantly change reported total annual consumption volumes. However, EIA expects significant changes in the seasonality of reported residential and commercial sector natural gas consumption from historical reporting norms as the improved reporting on the EIA-857 leads to more accurate monthly reports. For example, first quarter 2011 forecast residential plus commercial consumption is 1.7 billion cubic feet per day (Bcf/d) lower in this forecast compared with last month's Outlook, while fourth quarter 2011 consumption is 3.8 Bcf/d higher.

Technical Trading alerts 12.6.2010

2010-12-07T05:24:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: CRK FCX GDP IVN OIL TLM USO
21-Day/50-Day Moving Avg. Cross: GDP
MACD Cross: BHP DVN ESV JEC RIO TLM

BEARISH ALERTS: None

Technical Trading alerts 12.3.2010

2010-12-03T19:55:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: CVE DD ERF PETD PTEN XLB
MACD Cross: ATPG CF CVX DBA DNR FST MON MOO NBL NBR NXY OKE
PETD PXP RRC TS URS XEC

BEARISH ALERTS: None

Technical Trading alerts 12.2.2010

2010-12-02T17:56:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: APC CF DOW MUR SHAW XOM
MACD Cross: ACI APA APC BTU CBI CCJ CNQ COP DBC DIG DOW
EQT FCX FWLT GDP HES HK HOS HP NFX OIH PVA RIG SE
SU TCK VALE VLO XLB XLE XOP

BEARISH ALERTS

21 Day/50-Day Moving Avg. Cross: TOT

Weekly DOE Natural Gas Inventory Analysis - 12.02.2010

2010-12-02T11:28:00.000-08:00

Withdrawal slightly greater than expectations – The EIA reported a natural gas withdrawal of 23 bcf, lower than expectations (as per Bloomberg) for a 29 bcf withdrawal but less than the five-year average of a 43 bcf withdrawal. For the comparable week last year, the EIA reported an injection of 2 bcf.

Storage levels still at record highs – Total storage now sits at 3,814 bcf, or 0.6% below last year’s levels for the comparable week of 3,837 bcf, and 10.0% above the five-year average of 3,467 bcf.

High coal prices shoring up gas prices – Appalachian coal prices surged dramatically yesterday to new 2010 highs, and this coal move is helping to shore up gas prices on the basis of a coal-gas switching in regards to power generation. Coal prices yesterday were up 3%, which is pretty impressive volatility in the normally sedate coal market, resulting in our implicit coal-gas switching price escalating to $4.52 as of last night’s close.

EIA 914 data for September Shows Solid Growth – Total Lower 48 volumes of 66.33bcfpd were up +480mmcfpd (+0.7%) MTM and +5bcfpd (+8.1%) YOY. Onshore Lower 48 volumes of 60.37bcfpd were up +680mmcfpd (+1.1%) MTM and +5.77bcfpd (+10.4%) YOY.

Technical Trading alerts 12.1.2010

2010-12-01T19:13:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving Avg. Cross: APD CNQ EMN HOS INT TDW
MACD Cross: APD BEXP COG CVE DD EMN ERF JOYG MRO MUR OIL OIS PX
PXD SFY SLB TDW USO WTI XME
Bullish Up/Down Volume Ratio Reversal: MOS MRO

BEARISH ALERTS

Bearish Up/Down Volume Reversal: FRO MT

Weekly DOE Crude & Products Inventory Analysis - 12/1/2010

2010-12-01T09:27:00.000-08:00

· Crude inventories build vs expectations of draw –Crude oil inventories increased 1.1 mmbbls last week, compared with market expectations for a 2.0 mmbbls draw (per Bloomberg). Crude oil inventories are now sitting at 359.7 mmbbls, which are 5.8% above last year and 10.6% above the five-year average. It seems like supply/demand fundamentals have taken a back seat as crude was buoyed by Chinese economic data this morning that showed a large increase in factory orders, while numbers out of the Euro zone point to the fact that its manufacturing sector expanded at its fastest pace in 4 months in November. European Central Bank chief Jean-Claude Trichet also signalled officials may be willing to step up their response to the Euro zone debt crisis. In addition, US private sector jobs surged in November with the largest monthly increase in three years.

· Gasoline inventories build vs expectations of draw –Gasoline inventories rose 0.6 mmbbls last week, compared with market expectations for a 1.3 mmbbls draw (per Bloomberg). Inventories of gasoline are now sitting at 210.2 mmbbls, which are 1.8% below last year and 3.4% above the five-year average.

· Distillates draw below expectations –Inventories of distillates decreased 0.2 mmbbls last week, compared with market expectations for a 1.5 mmbbls draw (per Bloomberg). Distillate inventories are now sitting at 158.1 mmbbls, which are 4.6% below last year and 15.2% above the five-year average.

· Refinery utilization decreases –Refinery utilization was down 2.9% last week to 82.6% and compares to utilization of 79.7% last year and the five-year average of 86.9%.

Technical Trade Alerts 11/30/2010

2010-11-30T21:04:00.000-08:00

BULLISH ALERTS

MACD Cross: BHI
Bullish Up/Down Slope Ratio Reversal: WLL

BEARISH ALERTS

21-Day/50-Day Moving Avg. Cross: ENI RDC
Stochastic Cross: POT

Technical Trade Alerts - 11/29/2010

2010-11-29T17:47:00.000-08:00

BULLISH ALERTS

MACD Cross: INT
Price Is Up > 5% and Volume Is > 200%: SPN
Stochastic Cross: FRO NE

BEARISH ALERTS: None

Technical Trading Alerts 11/24/2010

2010-11-25T12:16:00.000-08:00

BULLISH ALERTS

MACD Cross: HOC NOV TGA XME
Stochastic Cross: ATLS BUCY

BEARISH ALERTS:

Up/Down Volume Ratio Slope Reversal: PBR

Weekly DOE Crude & Product Inventory Analysis 11/23/2010

2010-11-24T11:29:00.001-08:00

· Crude inventories build vs expectations of draw– Crude oil inventories increased 1.0 mmbbls last week, compared with expectations for a 2.0 mmbbls draw (per Bloomberg). Crude oil inventories are now sitting at 358.6 mmbbls, which is 6.2% above last year and 10.0% above the five-year average.

· Gasoline inventories build vs expectations of draw – Gasoline inventories rose 1.9 mmbbls last week, compared with expectations for a 1.3 mmbbls draw (per Bloomberg). Inventories of gasoline are now sitting at 209.6 mmbbls, which is 0.2% below last year and 4.0% above the five-year average.

· Distillates draw below expectations– Inventories of distillates decreased 0.5 mmbbls last week, compared with market expectations for a 1.5 mmbbls draw (per Bloomberg). Distillate inventories are now sitting at 158.3 mmbbls, which is 5.2% below last year and 15.5% above the five-year average.

· Refinery utilization increases – Refinery utilization was up 1.7% last week to 85.5% and compares to utilization of 80.3% last year and the five-year average of 86.6%.

Weekly DOE Natural Gas Storage Analysis 11/23/2010

2010-11-24T11:24:00.000-08:00

Withdrawal slightly greater than expectations – The EIA reported a natural gas withdrawal of 6 bcf, slightly greater than expectations (as per Bloomberg) for a 1 bcf withdrawal but less than the five-year average of a 13 bcf withdrawal. For the comparable week last year, the EIA reported an injection of 2 bcf.

Storage levels still at record highs – Total storage now sits at 3,837 bcf, or 0.1% above last year’s levels for the comparable week of 3,835 bcf, and 9.5% above the five-year average of 3,503 bcf.

Cooler outlook ahead – Over the past week, the U.S. reported gas-home heating degree days of 131, ~10% below the five-year average of 146, but ~16% above last year’s level of 113. Cooler weather is expected across much of the U.S. which should bode well for near-term natural gas demand.

Technical Trade Alerts - 11/23/2010

2010-11-23T20:09:00.000-08:00

BULLISH ALERTS

MACD Cross: KMP

BEARISH ALERTS

21-Day/50-Day Moving Avg. Cross: STO

Technical Trade Alerts - 11/22/2010

2010-11-22T18:58:00.000-08:00

BULLISH ALERTS

21-Day/50-Day Moving Avg. Cross: CHK DRC
MACD Cross: ESV HOC PCX
Price Is Up >5% and Volume Is > 200%: TSO
Bullish Up/Down Volume Ratio Slope Reversal: IVN

BEARISH ALERTS: None

Massey CEO Faces Showdown - WSJ.com

2010-11-21T19:38:00.000-08:00

Massey CEO Faces Showdown - WSJ.com

Technical Trade Alerts - 11/19/2010

2010-11-19T19:27:00.000-08:00

BULLISH ALERTS

10-Day/21-Day Moving avg. Cross: HOS
21-Day/50-Day Moving avg. Cross: MMR
MACD Cross: ANR ASH CAM CLR CXO EOG KBR MMR NOV OIH PXP WLL WLT
Price Is Up>5% and Volume Is >200%: WLT
Stochastic Cross: CRK

BEARISH ALERTS: None

Is Massey Energy Saleable?

2010-11-19T18:33:00.000-08:00

On October 20, 2010, The Wall street Journal broke the story that Massey (MEE) may be considering strategic options (read, "sale of the company") in the wake of the April mine explosion that killed 29 miners. In the ensuing days, the media was full of rumors as to who might be looking to buy MEE including the rival Alpha Natural Resources (ANR) and an Indian company. An analyst report claimed MEE may be worth $60 per share in a buyout; there was talk of ANR having already submitted a bid.

I went long in MEE stock and options after the news and I am sporting a nice profit, but I am beginning to wonder if the expectations of a sale is realistic. For one thing, recently, the company's CEO stated that MEE might be looking to acquire other coal companies and despite all the takeover smoke, I have not seen any fire yet. The basis for my lingering doubts about MEE's attractiveness are as follows:

1. The board of Massey is operating from a position of weakness, not strength because of uncertainty with the pending investigation of the Upper Big Branch mine disaster where 29 miners died. It does not appear that safety concerns are over at Massey. The company announced it would close its underground mines to conduct safety training.

2. Central Appalachia (CAPP) is a very challenging environment in which to operate with much stricter environmental regulations, safety oversight, rapidly worsening geology, and limited pricing power because of low natural gas prices. The major U.S. coal producers all fully recognize the challenges facing CAPP producers and have been strategically underweighting CAPP for a decade. Peabody Energy (BTU) spun off Patriot Coal several years ago for the above reasons. Arch Coal (ACI) gave away its high-cost CAPP mines in exchange for giving away the legacy liabilities of those mines. CONSOL Energy (CNX) has resisted the temptation to acquire CAPP reserves and, instead, made a major purchase of shale gas reserves earlier this year. Given all these considerations, are these companies now going to switch course simply because Massey's board is now reportedly a more willing seller?

3. Alpha Natural Resources (ANR) is the only company that is likley to bid for MEE since it has a preference for growth through acquisitions. However, ANR has diluted its exposure to Central Appalachia with the purchase of Foundation Coal. Since about 75% of MEE's shipments are thermal coal, ANR is unlikely to acquire MEE at much of a premium based on ANR's view that the CAPP thermal coal market is in a long-term structrual decline.

4. Major global mining companies, which also have been mentioned as potential buyers, may not be attracted to MEE. These companies are usually interested in world-class deposits producing global seaborne commodities. Massey has over 60 mines serving dozens of local customers. This would be difficult to manage from overseas and the operating synergies would be lacking to justify a takeover premium. And even further, these companies would need strong operating skills to take over MEE's mines. Since 2004, MEE has never hit its production and cost targets! These metrics are very important for a mining company since pricing is usually out of its control.

5. Finally, given the aforementioned risks and uncertainties facing CAPP producers, could long-term debt financing be obtained on acceptable terms to get potential private equity buyers interested in Massey?

Massey's CEO, Mr. Blankenship, may be onto something though: All this takeover talk has stoked the MEE shares to almost $50 from the mid-30s, giving him a more valuable currency in his stock. Then again, the price of all small cap producers have recently jumped in the wake of the Walter Energy's bid for Canada's Western Coal, eroding some of Mr. Blankenship's purchasing power. Watch your positions carefully.

Technical Trade Alerts - 11/18/2010

2010-11-18T18:12:00.000-08:00

BULLISH ALERTS

MACD Cross: CBI FRO FST FTI NFX
Stochastic Cross: DNR FCX IPI NXY OIL OKE SU USO
Up/Down Volume Ratio Slope Reversal: CRZO

BEARISH ALERTS: None

Weekly DOE Natural Gas Storage Analysis 11/18/2010

2010-11-18T08:41:00.000-08:00

Injection slightly below expectations – The EIA reported a natural gas injection of 3 bcf, slightly below market expectations (as per Bloomberg) of 8 bcf and the five-year average of 10 bcf. For the comparable week last year, the EIA reported an injection of 20 bcf.

Storage levels set record highs – Total storage now sits at 3,843 bcf, or 0.3% above last year’s record high for the comparable week of 3,831 bcf, and 9.3% above the five-year average of 3,516 bcf.

Cooler outlook ahead – Over the past week, the U.S. reported gas-home heating degree days of 108, ~4% below the five-year average of 112, but ~17% above last year’s level of 92. Cooler weather is expected across much of the U.S. which should be good for near-term natural gas demand.

Technical Trade Alerts - 11/17/2010

2010-11-17T16:42:00.000-08:00

BULLISH ALERTS

21-Day/50-Day Moving Avg. Cross: PVA
Stochastic Cross: BHI CCJ CF CHK DO E EQT HES MOS REP

BEARISH ALERTS

10-Day/21-Day Moving Avg. Cross: TSL
MACD Cross: SHAW
Price Is Down > 5% and Volume Is > 200%: FSLR

Weekly DOE Crude & Product Inventory Analysis 11/17/2010

2010-11-17T09:06:00.000-08:00

· Crude draw larger than expected – Crude oil inventories decreased 7.3 mmbbls last week, compared with market expectations for no change (per Bloomberg) in inventories. Crude oil inventories are now sitting at 357.6 mmbbls, which is 6.2% above last year and 9.9% above the five-year average.

· Gasoline inventories fall more than expected – Gasoline inventories fell 2.6 mmbbls last week, compared with market expectations for a 0.8 mmbbls (per Bloomberg) withdrawal. Inventories of gasoline are now sitting at 207.7 mmbbls, which is 0.7% below last year and 3.3% above the five-year average.

· Distillates draw less than expected – Inventories of distillates decreased 1.1 mmbbls last week, compared with market expectations for a 2.0 mmbbls withdrawal (per Bloomberg). Distillate inventories are now sitting at 158.8 mmbbls, which is 5.1% below last year but 16.2% above the five-year average.

· Refinery utilization increases – Refinery utilization was up 1.6% last week to 84.0% which is 4.6% above last year and 1.3% below the five-year average.

Technical Trade Alerts - 11/16/2010

2010-11-16T20:28:00.000-08:00

BULLISH ALERTS

Stochastic Cross: CAM CXO ESV SCCO TLM XEL

BEARISH ALERTS

21-Day/50-Day Moving Avg. Cross: NEE

Technical Trade Alerts - 11/15/2010

2010-11-15T16:26:00.000-08:00

BULLISH ALERTS

10-day/21-Day Bullish Moving Avg. Cross: HAL NXY
MACD Cross: MDU OKE
Price Is Up >5% and Volume Is > 200%: BUCY JOYG
Bullish Up/Down Volume Ratio Slope Reversal: BUCY HK PXP XME

BEARISH ALERTS: None

Technical Trade Alerts - 11/12/2010

2010-11-14T21:58:00.000-08:00

Bullish Alerts

10-Day/21-Day Moving Abg. Cross: CVX RIG
MACD Cross: NXY

Bearish Alerts

MACD Cross: TSL
Price Down > 10% and Volume Is > 200%: TSL
Stochastic Cross: CLB

Technical Trading Alerts 11/10/2010

2010-11-10T16:46:00.000-08:00

BULLISH ALERTS:

10-Day/21-Day Moving Avg. Cross: ANR CVE OXY SU
MACD Cross: HAL

BEARISH ALERTS: None

Weekly DOE Natural Gas Storage Analysis 11/10/2010

2010-11-10T13:57:00.000-08:00

Storage Levels Surpass Record

Injection slightly above expectations – The EIA reported a natural gas injection of 19 bcf, slightly below expectations (as per Bloomberg) of 24 bcf. For the comparable week, injections last year were 25 bcf with the five-year average injections at 30 bcf. Total storage now sits at 3,840 bcf, 0.8% above last year’s level of 3,809 bcf, and 9.8% above the five-year average of 3,498 bcf.

Storage levels surpass record levels set in 2009 – The 19 bcf injection this week puts us above the record storage levels set in late November 2009. Looking ahead, the start of the winter drawdown season is upon us and below average temperatures are forecasted for most of the United States over the next week.

Weekly DOE Crude & Product Inventory Analysis 11/10/2010

2010-11-10T09:56:00.001-08:00

· Crude draw higher than expected – Crude oil inventories decreased 3.3 mmbbls last week, much lower than market expectations for a 1.5 mmbbls build (per Bloomberg). Crude oil inventories are now sitting at 364.9 mmbbls, which is 8.1% above last year and 12.5% above the five-year average.

· Gasoline inventories fall more than expected – Gasoline inventories fell 2.0 mmbbls last week, compared with market expectations for a 1.0 mmbbls draw (per Bloomberg). Inventories of gasoline are now sitting at 210.3 mmbbls, which is 0.2% below last year and 4.7% above the five-year average.

· Distillates see larger than expected draw – Inventories of distillates decreased 5.0 mmbbls last week, compared with market expectations for a 2.0 mmbbls draw (per Bloomberg). The draw on distillates due to higher demand may be a welcome sign of an improving economy in the U.S. Distillate inventories are now sitting at 159.9 mmbbls, which is 4.7% lower than last year and 16.2% above the five-year average.

· Refinery utilization increases slightly – Refinery utilization was up 0.6% last week to 82.4% which is 2.5% above last year and 2.7% below the five-year average.

Exxon Stays Firm on Natural-Gas Bet - WSJ.com

2010-11-09T20:15:00.000-08:00

Exxon Stays Firm on Natural-Gas Bet - WSJ.com

Technical Trade Alerts - 11/9/2010

2010-11-09T19:58:00.000-08:00

BULLISH ALERTS:

10-Day/21-Day Moving Avg. Cross: ATLS COG CRK CRZO DNR FLR FST FWLT PVA PXD WFT WLL

MACD Cross ANR APL COP HK RIG

Price Is Up > 5% and Volume Is > 200%: APL ATLS CRZO EQT MDR NFG

Up/Down Volume Ratio Reversal: CVX ECA SU

BEARISH ALERTS

Stochastic Cross: CLB

Weekly Coal Review 11/10/2010

2010-11-09T19:34:00.000-08:00

Power generation totaled 70.3k GWh last week, up 1.5% YoY with Heating Degree Days registering 43 days, 7 less than last year while Cooling Degree Days came in at 13 days, 4 better than last year. Weekly coal shipments totaled 20.4 mln tons (+4.2% YoY). Citigroup estimates that coal stockpiles rose 1 mln tons WoW and now stand at 166-168 mln tons. According to Platts' survey, physical PRB declined $0.20/ton to $13.20/ton while other basins stayed steady.

Technical Trade Alerts - 11/8/2010

2010-11-08T16:14:00.000-08:00

Bullish Alerts:

10-Day/21-Day Moving Avg. Cross: ACI APA DVN EQT HP JEC JOYG NE PDE

MACD Cross: ASH ATLS ATPG CNX CRZO CSIQ DO

Price Is Up >5% And Volume Is > 200%: ANR ASH CCJ ROSE

Bearish Alerts: None