Why did the Sweet 16 all go up on Jan 4?
Posted: Mon Jan 04, 2021 4:16 pm
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.
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.