Anything that has energy attached to it

Submitted By Joseph Cioffi
Anything that has energy attached to it is in free fall right now. Oil has finally broken that uptrend line at 110 on the USO (136 ISH on Crude) and has imploded after the weekly inventory numbers. The 262 retest is underway with the MLP index down nearly 3 points.

What a mess. Day low is 262.67. Dow up 104. With the sell off in energy stocks even the refiners which were up nicely have come off their highs. Exxon traded under 80 briefly. At some point MLPS should separate from the others. The Double Short oil and gas (DUG) is up 2 and near 35. At least that hedge has helped considerably.

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