CorrectionWas overdue however seems to me more emotion driven than anything else. A 1/2 %
raise in int rates is not the end of the world and if this is the response, the central
banks surely must be taking note. The implied threat of further rate increases is
already enough to take the markets down. Supply demand metrics has not changed
just taken the froth off the top for now. My take is its a gift for those who believe we
are not done in the energy sector despite the recent pullback in those names. I
don't mind seeing a little of the speculative fever cooling off as it provides a better
entry point for investors or an opportunity to average down. Just a short term correction
within a bull market in energy IMO.
MS