The inevitable agreement between OPEC and non-OPEC oil producing countries has been reached. The Oil & Gas stocks are moving higher, which validates the investment position I took a few months ago. Moreover, the Dow 30 continues to lift as I had forecast a year ago and again about five months ago after a major pull-back that had the fear-mongers out in droves. I had forecasted a 24,000 Dow before the Bull run is over, and still believe that is possible.
While in Cuba, we attended the Fidel Castro funeral procession and watched hours of TV coverage of the events. At some point I will add more commentary. For now I can report that the authorities have basically blocked much of the usual personal access to internet and telephone. While not great at the best of times, this past week has been near impossible. “Just another Cuban problem” the locals say.
My work on the trading and publishing database system continues, albeit slower than I had hoped. In any case, the final system will be a major success and it will also continually evolve to meet future needs.
Today, Dr. Owen Williams gave his November report on the WMA Cara Roads, Bridges & Water Index. Here is the summary:
November RB&W Index Update The Roads, Bridges & Water Index had a phenomenal month on the back of Trump’s election, jumping +19.6% versus a +3.4% gain for the S&P 500. Between the two candidates, Trump had made a much stronger pledge to rebuild the U.S. crumbling infrastructure. Infrastructure rebuilding is a non-partisan theme that most Washington politicians will back over the next four years. Despite the strong monthly gains, many companies in the index have been neglected over the recent equity bull, suggesting that the “catch-up trade” still has a long way to go. Among index industry groups, the engineering services companies led the charge higher, up +38.1% in November, followed by the steel producers (+37.3%) and our infrastructure construction names (+25.6%).
Here is the link to the fact sheet.
Soon, I hope, I’ll be posting daily.