amplefry

Expand and Contract

NYSE:DNR   DENBURY RES INC DEL
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The stock prices of DNR and NE move in shameless proportion to crude. At the moment, Denbury Resources ( NYSE:DNR ) is hypersensitive to crude due its $1.7 billion capital void after buying competitor Penn Virginia ( NASDAQ:PVAC ) for cash. AT&T ( NYSE:T ) is suffering the same undervaluation after merging with Time Warner. Noble ( NYSE:NE ) makes less erratic jumps than DNR , but is just as obedient to oil prices.

Comparing the charts of NE and DNR with light sweet crude, their lines expand apart at times to leave space; then they contract together again. Like they are breathing in and out. Inhale/expand, exhale/contract. Rhythmically. The US stock market has one last tailwind: crude. It will blow back up and briefly overvalue symbols like DNR , NE, or NYSE:SWN .
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