Tuesday, 27 October 2015

1pm update - energy stocks under pressure

Whilst the broader equity market remains a little weak, there are more significant declines across most energy stocks.... Transocean (RIG) -3.4%, Consol (CNX) -17.6%, Chesapeake (CHK) -8.0%. Oil remains -2.2% in the $42s, and the mid term outlook is now bearish.


CNX, daily

CHK, daily


.. a truly dire trio of charts for the energy sector.. and with energy prices themselves continuing to fall.. the outlook is ugly for the rest of the year.

However.. a sector does not make the entire market.. and even though the outlook for energy related stocks ain't so great... the broader market looks set to climb.

back at 2pm