oil down 0.2% and the Oil companies tumble by a factor of 10Interesting how a small drop in oil prices creats a cascade within the oil sector. Most Oils are off between 2 and 3 % with a miniscule drop in the price of WTI....me thinks the shorts are at it again causing a cascade of stop-loss orders to be triggered.
Sure would love to see the Canadian regulators put a stop to naked shorting - then we might see a return to some sort of reasonable valuation of companies based upon value rather than who has the deepest pockets.
It will be interesting to see what happens to oil over the next few days
GLTA (Longs)
Rusty