Energy: An Update.

We discussed back in Mid-March the significant underperformance of energy up to that point.  From the time of that post until Mid-April, energy stocks became I think the worst performing sector in the markets, declining on average about 10% during that time period.  We noted this decline on April 13 and posted an updated chart on April 16th.  In that last post we noted we'd be doing some work on the group.  Well we did our homework and the net result is that in the past week or so we have been buyers of energy related ETFs per our different investment strategies and per client risk/return parameters.  The group has become statistically cheap, oversold and the money flow patterns are starting to look positive.

*Long various energy related ETFs in client and personal accounts.

{Note that this is a different chart than the IEZ that we have previously shown.  I updated this for a client today and decided to print it with this post.}