You have a lot of hot money that came into the sector that really didn't know what it was up against and now the hot is not and the playas are spooked. Back in November we posted "Energy Stocks Are Not Declining As Fast as Crude: So Which Is Wrong? (XLE)":
This has frustrated yours truly. When I go into the Monday meeting and say, "No, really, the equities should be trading lower." and I get "Or crude trades higher?"Well, come Monday it's probably going to be the reverse.
Brent $82.84 down 2.13%, WTI $76.77 down 2.55%; XLE $83.99 down 2.38%....
Here's where the ETFs stand at the moment:
XLE-The Energy Select Sector SPDR ETF, $74.03 down $1.13 and $2.33 above the Jan. 14, 2015 $71.70 multi-year low:
XOP- The SPDR S&P Oil & Gas Exploration & Production ETF, $45.13 down $1.53 and $3.50 above the January low.
A break below the prior lows opens the
