RE:RE:RE:RE:RE:RE:RE:RE:RE:Stop Loss HuntingWould not surprise me if we have a good finish to the week on the O&G stocks. Based on the minor pullback in them, the larger pullback in other (growth) sectors gettting ready to redploy into value sectors. All interest rate related. NASDAQ now officially 10% below recent high, so in correction territory. Even if Oil drops 2 bucks or more, it has a new solid base above $80, time for it to consolidate.
O&G stocks sometimes follow oil up, and other times ignores when oil drops if the market is moving up. i.e, they followed stocks down while oil hit new multi year highs. should be a recovery day in stocks.
NVA closes a new 52 week high today! If not today, then tomorrow to close out the week.
masfortuna wrote: From what I can see, many are expecting oil to go red. This in turn has led to many exiting their positions although oil is green and has been all week. 3 days of green and we are actually down from Friday's close. What will happen is that oil may in fact go red and drop 3-5% but that would actually just take us back to Friday's WTI pricing ($81) if that with a lower sp for NVA. Crazy times.