Sunday Flares, Flares and No Flares

By Paul Sankey Published on March 31, 2024 at 3:39 PM

Greetings!  Happy Easter. Spring is here, early spring, in Brooklyn Heights. I have begun to spend long moments staring at the garden. I shift to another spot and stare at the beds again. No meaningful gardening action as of yet. One asparagus tip has emerged from last year’s “growing asparagus” debacle. Things are going well for us; where do we stand at end-Q1 2024?   As Q1 closes, the first slide is titled: “Energy dangerously close to …

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Gas Stations & the Weakening Low End Consumer

By Paul Sankey Published on March 25, 2024 at 2:11 PM

Gas station stocks: low end consumer weakening. Gas station play Alimentation Couche Tard ($ATD) profit warning. Negative implication for refiners with gas stations, such as DINO. We are backing off our “long gas station stocks” stance but still prefer MUSA (Murphy USA), with its massive buyback and low volatility. But watch for a couple of tough quarters ahead. We like long gasoline (equity ETF is $UGA) as a trade into Memorial Day on supply tightness, …

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Sunday Coming in Hot… and Wet, and Cold

By Paul Sankey Published on March 24, 2024 at 7:13 PM

Delayed last night in Boston by severe storms and a ground stop at La Guardia, eventually we were the last flight to leave Logan Terminal A, and barreled into New York like a bucking bronco, especially for those of us at the back of the shuttle. We landed screaming hot, through the driving rain to what felt like a skidding stop. Welcome back to New York. Freezing! Three weeks on the road, with a final …

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