Its Over, page-13524

The current volatility in energy markets is making crypto look absolutely pedestrian.
After rising 75% since the start of the year, shares of oil and gas producers tanked (pun intended) over the last month. As of right now, they’re up “just” 17% YTD.

My caution on Oil stocks was mid to third week of Apr 22 after this above benchmark recorded about 40% rise. Timing was a bit off as it ran up to 75% but see where it is today 17% ! I did caution that energy stocks can fall very sharply in swift fashion, which is why this is one sector I prefer not to participate in. Those who had bought early in 2022 would still be up, but not so for those who entered after April - which was what my caution was directed towards.

Did I get it eventually right if I say it long enough?  Well, it was just 2 months. My dire prediction on Oil and energy stocks materialised. Where we go from here is another story.

I don't necessarily think that the game is over for Oil and energy stocks. Oil could get to $88-93 but I doubt it could get much lower, at least not in the very short term. And that would be a continuing problem to keep inflation entrenched for a while longer. Oil stocks could be a tale of two cities- the majors would perform better than the explorers and juniors because the former would be announcing bonanza profit results while juniors face an uncertain future with oil prices likely to suffer when a deeper recession bites.