Oil Equipment & Services Have Never Been this Oversold in the Post WW2 Environment
Below I plot the 10-yr RoC in the FTSE Oil Equipment & Services Index along with the index itself. A decade is a logical period for look-back analysis and doubles as the anniversary of crude’s 2008 all-time high print of ~$145. I’ve…...
Oilfield Services Attractive on Numerous Relative Fronts
One could spend a few hours cycling through charts of various US equity industries, both on an absolute and relative basis vs. the SPX, and find very little to get excited about. They simply all look the same – nearly…...