Sanchez Energy (SN) is up +12.5% on the day to $2.75 with about 2x the average volume.

https://finance.yahoo.com/news/edited-transcript-sn-earnings-conference-182155122.html

Not out of the woods yet — by a long shot — but I have held onto the shares.

How active is the Toronto economy? According to construction cost consultants RIDER LEVETT BUCKNALL, the “Crane Index” currently has Toronto almost the equal of New York, Los Angeles, Chicago and Boston COMBINED. Bigger numbers of cranes than the first three combined. In the World’s Most Liveable City Listing from the Economist Intelligence Unit, Toronto was ranked World’s #4 best from 2015 through 2017. For 2018 it dropped to #7. Too much construction. Too much traffic. For the US, the best are: 1. Honolulu, Hawaii (ranked No. 23) 2. Pittsburgh, Pennsylvania (ranked No. 32) 3. Washington D.C. (ranked No. 37) 4.… Read more »

My friends inform me that the State of Florida is presently undergoing a serious ecological crisis. The phenomenon of the red tide is growing. A state of emergency has been declared this week.

Tesla (TSLA) hit a low of $282.46 at the open, now $289 and under pressure.

A lot of people in tears now.

Financial Times has reported that PDVSA, Venezuela’s national oil company, has agreed to pay $2bn compensation to ConocoPhillips of the US, ending a dispute between them.

There are also reports that Venezuela has devalued its currency 95%. Chaotic economic and social conditions are expected to continue.

Based on trading in Australia and UK this morning, a lift to Industrial Metal Miners and Goldminers can be expected at the open in NY and Toronto. The US Dollar trading is volatile, neither positive nor negative on commodity prices at the moment.

The Canadian province of British Columbia is experiencing a forest fire emergency with a record 546 active fires burning of which 60 are deemed major. About 600,000 hectares of forest have burned so far. Visibility issues have forced the closing of airports at times. Every part of the province is affected. About 4,000 firefighters and contractors are engaged, many from Mexico, Australia and New Zealand. During this crisis, the US president referred to the issue of California’s own forest fire emergency actually with the temerity to blame Canada’s softwood exports as the cause. Moreover he blamed Canada and not his… Read more »

On Friday the president floated the notion of changing the U.S. Securities and Exchange Commission regulations to replace quarterly reporting requirements for public companies with a six-month system that he says would cut costs and spur growth.

If it’s not broke, why fix it? However, if the regulations are to be changed to a six-month earnings reporting system, which I would not be opposed to, why not also have a monthly report of revenues with a brief Management Discussion & Analysis to serve investor interests?

In our article this week (Trade War: To be or not to be) I think we should have drawn more attention to Trump’s attempts to destabilize Turkey as part of his trade war tactics because Istanbul is literally and figuratively the crossroads between East (China) and West (Europe including Russia) — the modern Silk Road or economic belt that China depends on. Next most important on the Silk Road is Iran, against which we believe Trump is trying to get Saudi Arabia and Israel to start a war. Ultimately, we believe Americans and the world will understand what’s happening here… Read more »

Baker Hughes Rig Count: The U.S. Rig Count is unchanged at 1,057 rigs, with oil rigs unchanged at 869, gas rigs unchanged at 186, and miscellaneous rigs unchanged at 2. The total Count is up +111 rigs from last year’s count of 946, with oil rigs up +106, gas rigs up +4, and miscellaneous rigs up +1. The U.S. Offshore Rig Count is up +1 rig to 21 and up +5 rigs year-over-year. The Canada Rig Count is up +3 rigs from last week to 212, with oil rigs up +1 to 141 and gas rigs up +2 to 71.… Read more »