11 Responses to “Tech Talk for Tuesday August 16th 2022”

1. Larry/ON Says:
   August 16th, 2022 at 8:16 am

   Nat Gas – We are in the seasonally weak period until Aug 20th and prices are pushing up against the year high which is a bit above $9. The Germans are buying every load of LNG they can get their hands on to fill their reserves. North Am inventories are 12% below the 5 yr average as of the Aug 11th report. This sets up for a tight market going into the fall and a push to new highs.
   I lucked out when I bought my apartment in Budapest. It uses “Passive House” technology. There is no gas in the eight unit building. It has the highest insulation possible, a large heat pump system combined with solar panels and a special ventilation system that captures heat from escaping in winter and cool air from escaping in summer. We need new construction regulation to push for carbon free heating and cooling solutions that are available.

2. DM/ON Says:
   August 16th, 2022 at 9:05 am

   Re:#1 little off Nat Gas financials.
   Larry,
   In Budapest, can such a heating system maintain 26 deg. C with ~ 45 relative humidity during solid Pannonian winter (I still expect that temperature outside may dip as low as – 15/20 C) ?

3. Larry/ON Says:
   August 16th, 2022 at 9:47 am

   Re 2 – Winters are mild in Bpest. I was not there during last winter but when I left in late Nov the heating system would not go on due to the heat from the apartments above and below me. The system can handle the climate there and the builder has been constructing with this technology for quite some time. I didn’t hear any complaints from neighbours. People there are looking at a 500% increase in their gas bills this winter. It will cause a lot of hardship for some families.

   Nat Gas is 0.09 from the June high.

4. DM/ON Says:
   August 16th, 2022 at 10:58 am

   Re 3 – Thank you Larry/ON
   My memories are from the times when only one room (kitchen) was heated during the day and you warmed the sheets with hot bricks before going to bed;

5. Ron/BC Says:
   August 16th, 2022 at 2:31 pm

   One has to wonder what the big boys are going to do with the $SPX price approaching the major downtrendline. We know what they did when price approached the 4177 resistance level by blowing all the short sellers out of the water. So they will be doing “something” at this downtrendline level and price is very,very overbought. (And there is always a “story” to be told at these price points.)

   https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p26607731314&a=1039537764

6. DM/ON Says:
   August 16th, 2022 at 2:46 pm

   Re: #5 …”(And there is always a “story” to be told at these price points.)”

   “story” may come from the next week meeting at Jackson Hole.
   Interesting comment on this site
   https://www.billionairesportfolio.com/archives/category/latest

7. Ron/BC Says:
   August 16th, 2022 at 3:00 pm

   DM/ON

   I rarely read comments by the big boys as they always have an angle and most of the time they say what they are either told to say or what serves them best. If you read a dozen of them in a row it wouldn’t tell you the best course of action to take. At least the charts don’t lie but they can exaggerate. But it’s good to know what major comments are going to be announced and when so one can protect themselves or set up a possible trade. I’d like to see higher rates myself……….

8. DM/ON Says:
   August 16th, 2022 at 3:51 pm

   Re: 7
   Ron/BC
   And you save lot of time primarily following the charts, and as we are aware you are very good at that, and consequently I’m very thankful for your posts. Interesting, CIBC’s Avery Shenfeld commented on “big boys” expectations in THE WEEK AHEAD
   https://economics.cibccm.com/cds?id=b67b9c8a-6725-41c3-9c36-264ac9be1077&flag=E
   giving a title “Are central banks ready to bend over backwards?” with an accent on “?” regarding the “Investors hoping…”
   Essentially that very well affirms your approach.

9. Ron/BC Says:
   August 16th, 2022 at 4:19 pm

   DM/ON

   Thanks for the link. Although those types of comments are enough to make one shake their head.

   Well looking at a lot of types of charts there are some that have turned very bullish on this last rally. So if I had a gun to my head I’d likely go long on a breakout expecting a rally above that downtrendline. BUTTTTTTTTTTTTTT I don’t have a gun to my head so I won’t likely buy the breakout.(unless there is something that is exceptional) Even on a breakout the market would likely go basically sideways and be choppy for some time. That would help that long term uptrendline to start catching up with price rather than price having to catch up with the uptrendline by falling.

10. Larry/ON Says:
    August 16th, 2022 at 7:27 pm

    HD – Amazing how a company like Home Depot can post record sales and profits in the middle of a “recession”.
    Ok. US home builders are somewhat negative right now due to rising interest rates. At the same time there is a backlog in home improvement that will keep the building trades going. I’m in that backlog biding my time for a project that I will only see next spring.

    Re 4: DM/ON – That sounds like life in some homes in the countryside quite a few decades ago. In my wife’s grandmother’s village there were only three telephones until probably some time in the 70s. She was afraid of phones and used one for the first time in the early 90s.

11. DM/ON Says:
    August 16th, 2022 at 11:48 pm

    Re: #10 Seems that maintenance and some renovations are ongoing activity and HD has so far well functioning supply lines. 10yr. chart is quite impressive.
    In reference to #4 I’m talking about post WW II 40s, S-S/W of Hungarian border, both cities and countryside. Recovery in those lands was slow, survival mode ruled for most of people.