CHK, FCX, SDRL - smashed junk

Whilst the broader US marker closed broadly lower, there were severe declines in the 'usual junk suspects', with Chesapeake Energy (CHK), Freeport McMoran (FCX), and Seadrill (SDRL) settling lower by -12.1%, -11.4%, and -9.7% respectively. Mid term outlook is bearish for the trio.


CHK, daily

FCX, daily

SDRL, daily

Summary

Suffice to add... as it always the case.. any degree of market decline will see the 'junk' stocks get smashed lower.

CHK, FCX, and SDRL all remain on my disappear list, and considering the broader macro-economic picture, it would be extremely surprising to not see at least 1 or 2 of the trio implode completely before year end.