As Harvey gets ready to make another landfall about 60 miles west of me, I’m over here continuing to do research in the oil & gas industry. I spent most of the day gathering up supplies & gasoline should Harvey flood us out, but the latest forecast appears to spare Lafayette.
Houston has a long road ahead, and will likely never be the same. In my opinion, New Orleans still has yet to fully recover from Katrina, and that was 12 years to this date. Things will never be the same.
Back to stocks for a minute. If oil does decide to creep higher, I have my eye on $SLCA, $RDC, $NE, & $ESV. I’m also watching to see if Natural Gas can trade through $3, if we do, you will be best served with a side of $UGAZ.
If the market does indeed continue to squeeze higher, you will want to trade names with high short percentages, as many bears appear to be on the wrong side of the tape. Here’s a look at the latest runner screen inside Exodus:
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I’m off to check on my Dad. He refused to leave Houston. He is one of the lucky ones however, no flooding, and still has power. It appears he will be alright.
Here comes Harvey, once again: