XLE at 10% discount

nomadic_m
06-17

$Energy Select Sector SPDR Fund(XLE)$ is currently trading at a 10% discount to its April 2024 all-time high. Given the prevailing economic conditions, I believe the masses will not be transitioning to electric vehicles (EVs) en masse in the near term, making this a potentially attractive buying opportunity in the energy space.

Will Oil Prices Continue to Drop or Rebound?
Oil prices continue to fall to $73. OPEC+ has agreed to extend all production cuts until next year. This agreement may indicate that oil prices will remain high until after the U.S. presidential election. ----------------- Will oil prices continue to drop to $60? Or will oil rebound after the production cut?
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Comments

  • breAkdaWn
    06-17
    breAkdaWn
    true. h2 out. Lecky out! oil always in!?
    • nomadic_m: 
      only time will tell how the energy landscape evolves!
  • UrsulaFowler
    06-17
    UrsulaFowler
    Interesting take on XLE
  • TamSnow
    06-17
    TamSnow
    Interesting analysis
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