Energy Bear

By Tim Knight of Slope Of Hope

Managing Partner at Tim Knight Organization • Nov 29, 2024 at 12:52 PM EST

With the /ES at the highest point in human history, it may seem odd to dare point out any sector that is potentially bearish.

Pump Jack, Oilfield, Oil, Fuel, Industry, Petroleum

Image Source: Pixabay

With the /ES at the highest point in human history at this very moment, it may seem odd to dare point out any sector that is potentially bearish, but – – – that’s what I’m here for. May I direct your attention to the oil and gas sector, by way of the XOI index.

(Click on image to enlarge)

I have just purchased June $150 puts on XOP, shown below. My stop loss is at 150.41, which is the level of that red dashed horizontal line I’ve drawn.

(Click on image to enlarge)

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I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit for the gains – – you may or may not make from reading this forum. Whether you lose your life savings or make a fortune is entirely up to you and your own skills/luck/fate.

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