Good Morning Traders and Investors,
Let's take a look at a chart of USO, where it has corrected pretty severly over the past week.
Now let't take a look at some stocks in the "commodity" sector:
You can also look at X and FCX - these stocks are at or near highs, yet energy is getting killed! Even BP and COP are only down 6-7%, whereas USO is down over 14% from its recent high.
Is there a buying point at the "line of death" in USO around 35 or are the aforementioned stocks ready to fail and make lower highs/go sideways?
Heading to the St. Regis for some apres, even though I am not skiing??
Locals Have More Fun is also looking for "street reps" to sell our clothing during our summer event schedule. Please contact us from our site if you are interested!
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