The sky is falling....not Looks like the end of the world has been cancelled. Again.
So, let's review how this massive correction started.
We have a huge oil glut. Which GS now says we don't have.
We had a few months of oil inventory builds. Which is normal in the fall.
The world's economies were falling apart. Except US data just hit it out of the park.
The media discovered the US Shale oil boom.
This was a bad one folks. If you weren't investing in oil stocks in 2008, or 2011, than the correction of 2014 is the worst you've experienced.
Oil will grind and sawtooth up from now till March. NG will likely move up on normal to cold winter weather. By Feb we will be "running out of NG", and "short on oil"...