This week’s top 20 % losers
- Energy: KWK (0.3 -53.76%), FST (0.57 -46.73%), EXXI (4.01 -45.59%), GDP (6.05 -43.09%), PVA (5.13 -39%), LPI (10.45 -38.67%), BPZ (0.6 -38.56%), SN (11.29 -36.32%), AMZG (0.94 -35.18%), REN (1.88 -34.04%), SFY (4.5 -33.92%), TPLM (4.82 -33.33%), OAS (18.38 -33.14%), SSE (7.78 -32.99%), EPE (10.69 -32.89%), CWEI (57.94 -32.75%), SGY (15.8 -32.19%), WRES (2.05 -32.12%), GST (2.95 -31.4%), SDRL (14.66 -31.37%)
Most of the stocks above are oil names. Today the XLE got hammered again and it looks like it finally took a toll on the S&P. I would expect continued pressure on energy as institutions try to get oil of their books into year end. Hopefully the worst is over though.
On the plus side, the McClellan Oscillator, which is a great indicator of overbought and oversold conditions, is very close to the reading it put in on the lows of October. I am looking for a bullish snap back over the next couple of days.
Today XLRN, KITE, TSRO, NBIX and FPRX all acted well on a relative basis even though biotech (IBB) was down 2%.
See you in the morning.