Oil Meltdown Not Ruling Out Year-End Energy Bounce

From zerohedge.com

The slide in oil prices quickened its pace this month, driving crude below the key $70 level on Wednesday. But some strategists say equity investors shouldn’t throw in the towel yet, as a year-end bounce-back for energy stocks is still on the cards. The dip below the crucial psychological threshold came amid a 26% decline in crude prices from a late-September high. Energy stocks have followed suit, with the S&P 500 Energy Sector Index sinking 13% over the same period. Now strategists and technical analysts say the weakness has set up some corners of the sector for a rebound. The relative performance of ... (full story)