From MarketBeat:
The decline in energy-related commodities has been as swift as the latter stages of the historic run-up that occurred earlier in the year. But a look at companies in that sector suggests that the decline may be nearing its end, at least for now.Bianco Research analyst Howard Simons notes that an index of exploration and production companies has displayed a bit of strength in the last several days even as the prices of crude oil and natural gas continue to sink. Such a judgment is built on shaky ground — it has taken place, after all, over just two weeks — but the rebound in these stocks “may be a sign the violent slide in the two major energy commodities is drawing to a close.”>>>MORE
MarketBeat has a related post on T. Boone Pickens:
The Bloom Is Off of T. Boone
In the latest sign of how the financial crisis and steep drop in commodity prices since July have blindsided some of the most prominent investors, energy crusader T. Boone Pickens said he and his BP Capital investment firm have lost some $2 billion since oil and natural-gas prices started tumbling in July.
The information, released on “60 Minutes,” is sharply higher than the most recent estimates of Mr. Pickens’ losses. His funds were previously thought to be down over $1 billion in 2008, with his personal losses pegged at more than $300 million....MORE
