Why did the Sweet 16 all go up on Jan 4?

[dan_s]

Oil down over $1/bbl and the S&P 500 Index was down 1.5% during the first day of 2021 trading. So, why did upstream companies do so well today?

My guesses
> Lots of money managers decided to rotate money into the grossly oversold oil & gas companies.
> Wall Street Gang thinks GOP will hold the Senate. Dividend government is good for the oil & gas sector.
> Outlook for natural gas and NGLs keeps improving.
> January weather in northern half of U.S. does not look like it will be a repeat of January, 2020 AND LNG exports are offsetting what mild weather we will see this month.

13 of the Sweet 16 moved higher today and 7 of 9 of the companies in our Small-Cap Growth Portfolio moved up.