Disagreement in the Oil patch…Oil stocks are NOT following the rally in Crude oil!

Posted by Chris Kimble on 11/17/2011 at 10:39 am; This entry is filed under Crude Oil, Oil Stocks.

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Oil stocks have not followed the recent rally in Crude Oil!  If Crude turns south up here against resistance, Oil stocks could get fall very hard!!!

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3 Comments

  1. Steve November 17th, 2011 at 11:12 am

    Great calls lately, thanks for the insight into your technical views on the market. I was looking for something that tracks XOI but can’t seem to find it. Is there a way other than individually doing OXY, APC, CVX, etc.. that I am missing? Thanks again for your blog, it is great work.

  2. Chris Kimble November 17th, 2011 at 12:59 pm

    Steve….XLE is not an exact match, yet close. Any other ideas from the viewership.

  3. larry November 17th, 2011 at 3:29 pm

    CVX has a .75 correlation to CL perpetual over the last 4 quarters with the other top three weightings topping out at .65 or less in weighting order, so you could probably just watch CVX for now and call it a day. I used my NDR database for the matrix.