HESM
Moving with the market
- HESM +0.39% on the last session vs SPY +0.04%: +0.3 pts of stock-specific move.
- Market backdrop (Today): Core PPI m/m 1.3% vs 0.3% expected (hotter); Core Retail Sales m/m 0.9% vs 0.6% expected (stronger); S&P futures -0.08%, 10-year yield -3bp in the 30 minutes after.
Bargain & stretch prices
Prices HESM only reaches with set odds, from its own recent swings. Odds, not a forecast.
| Today | Next 5 sessions | |
|---|---|---|
| Stretch sell side |
31.81 +3.8% ↑ more often after a big drop
reached 3 in 10 days · 31% vs usual 28% |
33.30 +8.6% ↑ more often after a big drop
reached 3 in 10 weeks · 31% vs usual 30% |
| Now | 30.77 · prior close 30.65 | |
| Bargain buy side |
29.53 -3.6% reached 3 in 10 days |
28.21 -8.0% reached 3 in 10 weeks |
More patient or more eager
| Bargain | Reached | Stretch | Reached | |
|---|---|---|---|---|
| Today | ||||
| Patient | 29.18 | 2 in 10 days | 32.19 | 2 in 10 days↑ 20% vs 17% |
| Balanced | 29.53 | 3 in 10 days | 31.81 | 3 in 10 days↑ 31% vs 28% |
| Eager | 29.87 | 4 in 10 days | 31.45 | 5 in 10 days↑ 49% vs 45% |
| Next 5 sessions | ||||
| Patient | 27.46 | 2 in 10 weeks | 34.21 | 2 in 10 weeks |
| Balanced | 28.21 | 3 in 10 weeks | 33.30 | 3 in 10 weeks↑ 31% vs 30% |
| Eager | 28.93 | 4 in 10 weeks | 32.47 | 5 in 10 weeks↑ 49% vs 48% |
"3 in 10 days" means the price was reached on about 3 of every 10 days like this one. Patient prices are further away and come less often; eager ones are closer and come more often. From HESM's daily swings (about 3.8% a day lately), anchored on the Oct 14 close. The odds were measured on 10 years of S&P 500 prices (they move about 3 points from year to year with the market: bargain prices come more often in falling years, stretch prices in rising ones), and where a situation below changed them consistently (in at least 8 of 10 years), they are adjusted and marked. In those tests, waiting for the bargain price did no better on average than buying at the close: what you save when it comes, you pay when it doesn't.
Situations on the Oct 14 close
- Stretch price, next session: reached 31% of days instead of the usual 28% (held in 9 of 10 years)
- Stretch price, next 5 sessions: reached 31% of weeks instead of the usual 30% (held in 8 of 10 years)
| Date | That day | 1 week on | 1 month on | 3 months on |
|---|---|---|---|---|
| Oct 7, 2026 | -14.6% | -7.2% | — | — |
| Sep 29, 2026 | -2.2% | +2.8% | — | — |
| Aug 17, 2026 | -2.1% | -1.6% | -0.2% | — |
| Jul 27, 2026 | -2.0% | +2.4% | +0.1% | — |
| Jun 24, 2026 | -1.9% | +1.4% | +9.0% | +6.1% |
| Jun 15, 2026 | -2.7% | +1.4% | +7.0% | +8.5% |
| May 29, 2026 | -2.2% | +3.5% | +0.3% | +7.6% |
| May 20, 2026 | -1.7% | -4.3% | -7.1% | -0.4% |
Big drop and big gain: among HESM's own worst or best 10% of daily moves, as on the Aftermath tab. The past times are history: in our tests, how a stock did after its earlier times did not predict the next one, and across the S&P 500 none of these situations leaned up or down except, weakly, an all-time high followed by a big drop. Not advice.
Price ladder
| All-time and 52-week closing high Sep 8, 2026 |
40.97 +33.1% |
| 50-day average | 38.46 +25.0% |
| 200-day average | 37.16 +20.8% |
| Stretch, next 5 sessions | 33.30 +8.2% |
| Now | 30.77 |
| Previous close Oct 14, 2026 |
30.65 -0.4% |
| 52-week closing low Oct 14, 2025 |
29.56 -3.9% |
| Bargain, next 5 sessions | 28.21 -8.3% |
Closing prices (all-time = the 10 years Yahoo has). Percentages are the distance from now. These are levels people watch, not levels the price has to respect. Not advice.