Bottom of the barrel dating
September returns finally break a horrible losing streak for BOTB Club members.
The trading rally reverses but does not exceed August's sharp losses.
40%) were the leaders for September, while Exco (-25%) and Approach, Comstock, Mid-Con and Resolute (all negative or essentially unchanged) were the laggards.
The XOP ETF was 20%, right in line with the overall performance of the BOTB Club members ( 21%) and slightly ahead of the Sweet Crude Club ( 15%).
To be considered to be in an uptrend other than merely in the short term, those prior price levels will have to be taken out by companies going forward.
Those readers who came looking for a fight about the direction of oil and natural gas prices or stock predictions may be disappointed as you read through this article, but remember as you do that "Big" = "Important" and "Fall" = a season that comes at this time every year.
Individual stock charts would show roughly the same pattern and results for September.
Traders who use technical patterns should have been all over this movement, and from what I gather from comments on SA and elsewhere, they were.
Three companies, Abraxas, Approach and Resolute, are positive on an ITD basis.
Overall, the number of bankruptcies (16 so far) drove ITD returns to (-47%) compared to (-2%) for the Sweet Crude members, an enormous and significant variance. One particularly interesting comparative comparison is to oil and natural gas prices, which were up during that time frame by 25-35% The data back to June 30, 2014 is included primarily for reference purposes at this point. the Sweet Crude Club’s (-42%) is confirmation that the market continued to punish BOTB Club members more so on a percentage basis than its healthier counterparts.