Wednesday, October 22, 2014

"WTI Crude Slides Below $81"

Following up on yesterday's "Oil Sell-off, the Goldman View (XLE; ERY)" wherein we said:
We are seeing a lot of recommendations to buy hydrocarbon companies and want to note:

It's Too Early
More to come.
Even after oil bottoms there is going to be damage done to the equities.
And it's probable oil has not bottomed.

From ZeroHedge:
It appears some of the 'fundamental' legs of the face-ripping ramp in stocks are fading. Broken Markets - nope; Fed Speakers - nope (blackout period); Crude rising - nope (WTI back under $81)

Why it matters...