DHUnplugged #622: Box The Whites

Put away the white pants - box up the white shoes - summer is over. Deeply Oversold - Quick bounce potential is high (Happened last week and today already 3 times) New study on talking to plants PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - Back from NOLA - FSU/LSU game - unreal weekend - Putting away the White pants and shoes - post Labor Day - Europe is in trouble - Russia playing hardball with energy flows - Germany rethinking Nuclear energy - New study on talking to plants - Reminder of CTP that is closing for entries Friday Market Update - Deeply Oversold - Bounce Potential High (Happened last week and today already) --- Seems that 3.3% 10Yr is near-term cap? - QQQ bounce from low in June to high 23%, now eroded to 8% - Turmoil at BBBY - China lockdowns and OPEC production cuts - Apple Sept 7th launch event BIG ANNOUNCEMENT - TEASE REALLY - TriggerCharts Indicators - New Distribution, New platforms..! NOW TRADINGVIEW.. Launch 1st week of September - Tradestation, eSignal, TradingView! RSS Feed - FIXED Yields - 10yr Treasury at June Highs - 3.342% Market/Sectors Update Sectors - YTD When the going get tough - Throw out all Climate concerns - Germany keeping 2 nuclear power plans active (Uranium URA?) - Germany will keep two of its three remaining nuclear plants available for power production as part of a reserve scheme recommended by power transmission grid operators (TSOs) that stress-tested electricity supply - Economy minister Robert Habeck said the risks of nuclear technology mandated holding on to the exit plan but restrictions in Russian gas deliveries justified the reserve measure. Oil Production - OPEC cannot seem to make up its mind - a group of some of the world's most powerful oil producers on Monday agreed on a small output cut from next month, surprising energy markets at a time of considerable turmoil. - OPEC and non-OPEC partners, an influential energy alliance known as OPEC+, decided to cut production targets by about 100,000 barrels per day from October. - Oil spiked then dropped after the news (Economic realities and China lockdowns) Russia Playing Hardball - On Friday, Russian energy supplier Gazprom said it would not resume its supply of natural gas to Germany through the key Nord Stream 1 pipeline, blaming a malfunctioning turbine. - The euro fell below 99 cents for the first time in 20 years Monday, after Russia said it would shut off its main gas supply pipeline to Europe indefinitely. - The EU's common currency was trading around 0.9915 versus the dollar by 1:00 p.m. London time (8:00 a.m. ET), having climbed off lows of $0.9881 hit earlier in the day. - The dollar index, which measures the greenback against six major currencies, also breached a fresh two-decade high as the British pound slid on fears over energy supply and European economic growth. Last Item - Looking at European Gas prices - just to be clear - Lower gas flows from Russia ahead of and following its February invasion of Ukraine have already pushed up European prices by nearly 400% over the past year, sending electricity costs soaring. Crude Oil Futures California Rolling Blackouts? - Highest rates since 2020 - Potential for rotating outages to conserve --- How does this work for Electric cars? Supposed to be cheaper alternative China Lockdown - Some districts of China's southern tech hub Shenzhen extended curbs on public activities, dining out and entertainment venues on Friday, but city officials stopped short of a full lockdown - Most of Shenzhen's nearly 18 million residents are now under COVID controls amid the city's most serious outbreak since spring.