Investors Business Daily: "A growing number of energy and mining stocks are moving into buy zones, leading the S&P 500, amid growing confidence in the world economy. The Trump tax cuts should help global economic growth and boost corporate profits. A global synchronized boom would benefit commodity plays and other cyclical sectors and push those sectors into a sustained market leadership role. So investors should pay attention to this move."
Concho Resources (CXO) and Diamondback Energy (FANG) are mentioned in this article.
https://www.investors.com/research/inve ... yptr=yahoo
In second half of 2010 the energy sector broke out like this and the Sweet 16 moved up almost 50% in a few months, but this time the Sweet 16 is even more oversold.
The Wall Street Herd is changing direction and the herd has a lot of money. The Sweet 16 are going to report solid Q4 results.
IBD says now is the time to rotate into energy
IBD says now is the time to rotate into energy
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group