Gold versus Oil Service stocks (OIH) since September of last year are nearly identical as money flows into and out of these sectors.
Read the chart comments above.
Cheers.
Tim
Comments
timwest
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Oil is likely forming a major bottom here, just my sense. 80/barrel seems like a good price to lock in for the next few years. Does anyone want to go in on a hedge for heating oil prices for this coming winter? At 40,000 gallons per contract, we'd need about 20 people, on average, to "LOCK IN" the price of heating oil at these prices (assuming you use 2000 gallons of heating oil per year). That's how I like to think. Cheers. Tim
charttrader
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Agreed.
timwest
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It is nice to see that FINALLY the "asset stocks" are moving in unison anymore. The lack of thinking that was going on was a sure sign that something was wrong. GLD up and OIH down sizably lately and has opened up a good spread now.