US equities remain choppy, if broadly lower. Meanwhile, WTIC is currently +1.7% in the $76s. The energy sector ETF of XLE is currently net lower for the week by -4.2% at $83.55.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $74.77, if recovering to the $76s, helped by the weaker dollar. Set for a net weekly decline of around -4.0%.
XLE: energy stocks fairing better than the main market, helped with the upside reversal in oil. The sector is m/t bullish unless <$82s, and we’re not far from that.
notable stock: OXY
Lower with the main market. No doubt, Berkshire will be looking to buy more. They currently hold around 22%, and are allowed to buy up to 50% or so.
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notable stock: MRO
Struggling with the main market.
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Equities: sp’60min
Chop chop… if holding the early low. Cyclically low.
I’d like to see the 3950/60s before considering even a partial re-short, and I’m always inclined to NOT take any new positions ahead of the weekend.