In this totally fake, propped-up, fraudulent equity market of the past decade, one part that is in such bad condition that even the bureaucrats in D.C. can’t prop it up is the oil and gas exploration sector. The ETF for it, XOP, is actually at the lows of the financial crisis. How many things can you say that about? I’d say it’s a whole integer that rhymes with the word “hero.” Prepare for a break to lifetime lows in the near future.
Crude oil’s march toward $43 (at least) will just make a bad situation worse.
