BTU, CHK, SDRL - carnage in the energy sector

With the broader market in a bad mood about a likely GREXIT, and Oil losing the $50 threshold, the energy stocks were smashed. Peabody Energy (BTU), Chesapeake (CHK), and Seadrill (SDRL), saw rather extreme declines of -9.6%, -6.4%, and -10.0% respectively. Outlook for the sector is bearish into late spring/early summer.


BTU, daily

CHK, daily

SDRL, daily

Summary

Oil looks set to slip to at least the $47/43 zone in the near term... with $35/30 in second half of 2015.
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On any fair outlook, a multi-year floor - even in the coal stocks... looks likely this summer. From there... it will be shopping time (at least in my view!).

For now... patiently waiting.