It has been a rough two weeks for E&P stocks. The market, though volatile, is basically
flat over the past two weeks. E&P
stocks have been surprisingly uncorrelated with each other, but it has
generally been bad. If it hadn’t
been for the big rally on last Friday, this price comparisons would look a lot worse. There are several reasons to be concerned in the near term about prices, and I'm going to do a post about that in a few minutes.
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