cause of today's e&p sell off?

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setliff
Posts: 1823
Joined: Tue Apr 27, 2010 12:15 pm

cause of today's e&p sell off?

Post by setliff »

https://www.bloomberg.com/news/articles ... ?link=mktw

article talks of closure of an oil based hedge fund.
dan_s
Posts: 34736
Joined: Fri Apr 23, 2010 8:22 am

Re: cause of today's e&p sell off?

Post by dan_s »

Analysts focused on the increase in the gas/oil ratio on PXD and then it cascaded. In a bear market when a "surprise" like this happens, investors panic and "throw the babies out with the bathwater". Most the stocks are back to where they were a year ago and I think we can all agree that the fundamentals for oil, gas and NGLS is much better than it was a year ago.

FEAR and GREED drive investors.
Dan Steffens
Energy Prospectus Group
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