Whilst the broader equity market only moderately fell, there were again severe declines in all energy related stocks. Peabody Energy (BTU), Transocean (RIG), and Seadrill (SDRL) settled lower by -7.6%, -4.9%, and -5.0% respectively. Outlook into mid 2015 is bearish.
BTU,monthly
RIG, monthly
SDRL, monthly
Summary
*since it is the start of a new month, the bigger monthly charts are also useful to see the net daily gain :)
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The coal miners were all smashed lower today... BTU... ACI, ANR... the usual names
The oil/gas drillers saw further massive declines, with RIG and SDRL effectively now at primary downside targets. Considering that Oil now looks set to fall into the $50s (perhaps even 40s) at some point next year, the secondary downside targets for RIG and SDRL are both now very viable.
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I am long term bullish on BTU, RIG, and SDRL... but for now.. they are still on the slide. Certainly.. I have zero interest in getting involved in any of them for some months.