The only one faring well is XOM, and it appears to have sort of topped out, having recovered better than ALL the others, even the biggies like CVX & COP. COP chopped its excellent divvy and that was IMO one great reason to own it. No more.
The most remarkable recovery has been UNT. I trade that one a lot, but my common sits under 20-struck puts. It can put on massive moves, like a dollar for a $12-$13 stock very easily so be careful. Bot some today 12.38.
I don’t know what to say about “shoppers” in this space. We are IMO in a nifty fifty type of market, there is and will be utterly no mercy for the weak.
Retail has been utterly clocked this week, just brutal. There HAS TO BE a time and place where this is going to reflect as decr demand on oil products. Has to.
Honestly & respectfully, I think this is not a good space to go hunting in. I used to trade it a lot.
This is not happy market action here, now we see the PGs and PMs of the world taking on water, they again have to reflect the perception that the consumer is stressed. They were among the last soldiers standing. Bonds ramping like crazy. = fear. Yet VIX/VXX are nothing to write home about. Be careful.
Thanks. Good adv.
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