RE:RE:RE:CorrelationCobalt wrote: Renofund wrote: Tartar3 wrote: Big believer, But? positve correlation to falling oil prices, and zero correlation to rising oil prices lately, could signal a short turn top maybe? not only ATH but most CDN oil stocks, as usual, I hope to be proven wrongEnable GingerCannot connect to Ginger Check your internet connection
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Sometimes stocks overshoot, become overbought, etc. perfectly normal.
Last time the sector got overbought was Oct took 3 months to work off for the next leg up , stronger bull now so 1.5 months?
who knows? Earnings are approaching so may be quicker. Hard to say. That said, the folks complaining (not you) about ATH lagging recently - ATH has held up better than a lot of the other names that ran. Not all, but many. Ran more than most last year, others played some catch up begining of the year, got too hot, hit an air pocket, and have come back in. How this works, and how it has always worked. Let's see how it does once things have cooled off. For the folks complaining, rotate out if you arent happy, you ARE allowed to do that LOL. Next earnings will be interesting. Despite the cool off here, the set up IS still there. Oil names were getting a little ridiculous there for a couple weeks. When folks start complaing that some names are up 7% in a day and theirs is only up 3-4, you know it is running hot