TTG Market Observations & Charts 9-14-22
Quick observations (attached audio message for TTG Members, note TTG members receive this email Mon, Wed, Thurs and Midday Live Session Tues & all trades are sent to members real time / position sheet sent end of day)
From Midday today:
- Breadth has turned positive for the day , but more chop than anything else
- Bonds are flat today / US Dollar is down UUP -0.4%
- VIX -4% 23.2
- Crude +2.6% Nat Gas +6%
Bottom Line: A bit of chop today Energy leading the way.. other bright spots are alternative energy (Solar, Clean Energy), Semis, Bios & Cons Discretionary. Keep in mind the indices (S&P , NDX) are inside their Value Areas for the week and the 80% rule is still in play , meaning we could see some more volatility this week. I continue to focus on Relative Strength areas and setups below
% change from open
Charts
ES_F 1hr chart Daily Chart
Inside Value Area for week and 80% rule still active which means that would could see a move down to 3896 if volatility returns, note we also have quadwitching on Friday...
EQT EQT Corporation Daily Chart
Possible cup & handle in the making here, needs to close > $51.16
OXY Occidental Petroleum Daily Chart
Held the short term MAs and now turning back higher, can target $71.7
TAN Solar ETF Daily Chart
watch for a break of Sep Value Area $88.74 and downtrend line
AEHR . Daily Chart
Broke back into Sep Value Area yday can target 1hr VPOC $18 for 1st tgt
SWAV Shockwave Medical, Inc. Daily Chart
watching for a break of down trend line
PLUG Daily Chart
Watch for a break out of Sep Value Area, alert set to $30.41
EE Excelerate Energy, Inc. Daily Chart
Another Nat Gas name trying to break higher , see story below re supplying Gas to Europe
STEM Stem Inc Daily Chart
Energy storage names is breaking above recent range, can target $19 if price can stay above $16.1
WOLF Wolfspeed, Inc. Daily Chart
Watch for a break above 115.48 end of day
Excelerate Energy to Replace a 10th of Russian Gas in Europe
Texas company to anchor LNG import ships in three nations
Ships have capacity to import 15 billion cubic meters of gas
By Sergio Chapa
(Bloomberg) --
The liquefied natural gas import ships owned by Texas-based Excelerate Energy Inc. that are headed to Europe are expected to replace as much as 10% of the energy-starved continent’s imports from Russia.
The three floating storage and regasification units, or FSRU ships, have the throughput capacity to import a combined 15 billion cubic meters of natural gas per year, nearly a tenth of the 155 billion cubic meters of pipeline and LNG imports from Russia in 2021, according to the company.
“Flexible LNG infrastructure is critical for energy security,” said Chief Executive Officer Steven Kobos from the sidelines of the Barclays CEO Energy-Power Conference in New York on Wednesday. “We’ve said for years that Excelerate Energy is essential for both energy security and the energy transition.”
The ships -- to be anchored in Finland, Germany and Albania -- will be deployed one-by-one over the next 16 months and each have the import capacity of 5 billion cubic meters of natural gas per year.
In the case of Finland, that’s enough to replace all Russian natural gas imports for both the Nordic country and neighboring Estonia. For Germany, the import capacity is equivalent to roughly 5% of the nation’s annual consumption.
“We’re pleased that we are helping Europe with their energy security needs,” Kobos said. “It’s the right thing to do for Europe and it’s the right thing to do for Excelerate shareholders.”
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