Thursday, March 10, 2011

"Energy Stocks of All Stripes Get Crunched" (CHK; CHV; MEE; NBL;VLO; XOM)

Well that was ugly.
As I said in Monday's "Bank of America Dividend: One Analyst’s View and "BofA Investor Meetings Have a Dark Market History" (BAC)":
Regular visitors may have noticed a paucity of individual equity rec's. The reason? I'm clueless.
Despite a lifetime spent at the market I'm feeling slightly adrift....
I'm still clueless but it looks like the negative market action around BAC investor meetings has struck again.
So here's MarketBeat again:
After a few weeks in the sun, energy socks are getting clobbered today. The sector is the worst performer in the S&P 500, down 3.5%.

Oil prices are down, but the selling is widespread and indiscriminate. Have the word “energy” in your company name, you’re having a bad day....MORE