exactly the way it happened after oil''s first move over $90a few weeks ago. XOP was weak for 3 days of great news and a flying oil price. It made no sense. Why was XOP weak. And it dumped almost 10 bucks to 82 in txte next 3 trading days. Be very scared.
I am long, but not over extended. Big money smacks this segment around and they control the narrative and can somehow move the price with hudge selling as of course the paper market is 50 times the physical.