$XOP $GUSH $USO $UWT $XLE @jcampb22 Let me tell you why XOP isn't manipulated. You see lots of companies in XOP that are trading in the single digits like WLL, SWN, RRC, CPE, KOS, CNX, TELL, WTI, CRC, etc. They are trading there for a reason - lots and lots of debt. If you track the stocks in XOP (57 stocks), which I am, you will see lots of them are in deep red. Some are 7+% lower and majority of them are 1 - 3% lower. Oil is highly manipulated by funds (institutions, hedgies, etc.) and the belief is that oil will head lower and hence all these oil related companies, with tons of debt, will not be able to service it with low oil price. Hence, BK'es are in order and that's what the sellers are banking on... Not sure whether the BK'es will happen or not but the price action says it all. You, I, and others can only do one thing - sell and move on when the losses are mounting... For me, 10% is the ceiling and when it hits my target, I am outta here for the time being!
  • 4
  • 6