que,
Based on the charts of the institutional favorites in both the OSX and the XNG, everyone of them has broken down and all are below their 10 DMA.
I would say the mad rush for the exits has already begun.
Take a look at WFT, ESV, BJS, CAM, SII, EOG, APA and APC.
This is where the hot money goes because they are the largest and the easiest for the big money to get in and out of.
The sell volume is very high in a few like EOG, but most of them are just a little above average.
stockcharts.com[h,a]daclyiay[pb200!b10!b50!d20,2!f][vc60][iut!Ub4!Ua12,26,9!Lh14,3!Lc5!Ld20!Lj[$spx]!Lf]&pref=G
Not a pretty picture for the longs.
Jim |
