Falling Energy Stocks

I had this brillant plan for the Buy List this year. We were simply going to side-step energy stocks and everything would be fine. At least, that was the plan.
So on the first trading day of the year, energy stocks soared. They kept climbing for the rest of January. No problem. We stayed patient. Soon, energy stocks plunged in February and early March, and the Buy List looked much better compared with the S&P 500.
Then energy stocks started rallying again. Every day it seems that energy are either the best- or worst-performing group. Eventually,the sector surpassed its January peak. Now energy are falling again, and very sharply.
Here’s the Dow Jones Oil and Gas Index (^DJUSEN) since the beginning of the year.

Here’s the past five days.

Posted by Eddy Elfenbein on May 15th, 2006 at 2:04 pm

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